Accounting Insights
- 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…
- September 13, 2021
- Accounting | Not-for-Profit
Do you know where your association stands in comparison to other associations in your arena? It’s important for association leaders to know how their…
- August 18, 2021
- Accounting | Audit and Tax | COVID-19 | Not-for-Profit | Tax
In the world of higher education during the pandemic, freshmen spent their first year in college joining Zoom classes, and seniors graduated in their…
- June 24, 2021
- Accounting | Tax | Wealth Management
How a cash balance plan saved a business over $550,000 Background A local family-owned company was undergoing a business succession plan with our team…
- June 21, 2021
- Accounting | Audit and Tax | COVID-19 | Tax
When the Administration passed the American Rescue Plan (ARP), it released new rules about Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) benefits, too….
- June 21, 2021
- Accounting | Audit and Tax
It is the responsibility of both the Department of Labor (DOL) and the Internal Revenue Service (IRS) to make sure a participant’s account balance…
- June 17, 2021
- Accounting | Audit and Tax | Lease Accounting Standards
Click here and check out the Sikich Lessee Ledger tool Major changes in lease accounting lie ahead for private companies that have not yet…
- June 17, 2021
- Accounting | Lease Accounting Standards | Technology
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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.
