Accounting Insights
- December 8, 2021
- Accounting | Government Contractors | Tax
As the end of the year quickly approaches, many government contractors turn their attention to year-end planning. Rather than focusing on the usual end…
- December 6, 2021
- Accounting | Lease Accounting Standards
While the new lease accounting requirements are effective for fiscal years beginning after December 15, 2021, businesses are not required to present financial statements…
- December 1, 2021
- Accounting | Human Resources
Applicable large employers (ALE), or employers with more than 50 full-time equivalent employees in the prior year, must file Forms 1095-C and 1094-C on…
- November 24, 2021
- Accounting | Construction | COVID-19 | Tax
On November 15, President Biden signed the $1.2 billion Infrastructure Investment and Jobs Act (IIJA), offering an economic boost in the construction industry. The…
- November 23, 2021
- Accounting | Construction | Lease Accounting Standards
The construction and real estate industry is heavily impacted by the new lease accounting standards under ASC 842, particularly those companies that lease a…
- November 11, 2021
- Accounting | COVID-19 | Lease Accounting Standards
The question of delaying the effective date of the new lease accounting standards was back on the table – should the effective date of…
- November 3, 2021
- Accounting | Human Resources | Tax
The Affordable Care Act (ACA) doesn’t appear to be going anywhere. Applicable large employers (ALE) with more than 50 full-time equivalent employees in the…
- October 22, 2021
- Accounting | Lease Accounting Standards
FASB Accounting Standards Codification Topic 842 (“ASC 842”) is possibly the most impactful accounting standards change for many organizations in recent memory. With all…
- October 20, 2021
- Accounting | Lease Accounting Standards
As the new lease accounting standards become a reality, there’s plenty of new language and lingos to familiarize yourself with. With that said, what…
- October 7, 2021
- Accounting | Lease Accounting Standards
Click here and check out the Sikich Lessee Ledger tool…
- October 6, 2021
- Accounting | Not-for-Profit
In August 2021, the forbearance of student loans was extended until January 31, 2022. While this relief is critical to the students impacted by…
- October 6, 2021
- Accounting | Audit and Tax | COVID-19
For-profit businesses that received Provider Relief Funds (PRF) may be required to have a specialized audit performed on the use of those funds –…
- October 4, 2021
- Accounting | Lease Accounting Standards | Tax
In part one of this article, we discussed the changes under the new lease accounting standards, Topic 842, Leases (ASC 842), and began to…
- September 30, 2021
- Accounting | Lease Accounting Standards | Not-for-Profit | Title IV
After many years (and also many delays), the implementation date for FASB ASU 2016-02, ASC 842, Leases, is upon us, specifically, for private companies…
- September 29, 2021
- Accounting | Not-for-Profit | Title IV
When it comes to clock-to-credit hour conversions, those who has been in the Title IV world for a while are probably having a bit…
- September 27, 2021
- Accounting | Tax
With both monetary policy and pandemic-related supply chain disruption driving current and future price increases, safeguarding inventory – often a company’s largest asset –…
- September 23, 2021
- Accounting | Lease Accounting Standards
Click here and check out the Sikich Lessee Ledger tool…
- September 22, 2021
- Accounting | Lease Accounting Standards
Under the new guidance in ASC 842, Leases, lease liabilities reported on the balance sheet represent a lessee’s obligation to make lease payments, measured…
- September 22, 2021
- Accounting | Distribution | Manufacturing | Tax
INFLATION INFLATION INFLATION Are you a manufacturer or distributor facing higher prices this year? Whether due to supply chain issues, product shortages, tariffs or…
- September 14, 2021
- Accounting | Lease Accounting Standards
A practical expedient is an accounting policy election allowed by the Financial Accounting Standards Board (FASB) that provides relief from the burden on financial…
This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.
