The straight line

The Governmental Accounting Standards Board has issued Statement No. 87 – Leases. This Standard was originally to be effective for reporting periods beginning after December 15, 2019, but was deferred to periods beginning after June 15, 2021 due to the COVID-19 pandemic. GASB Statement No. 87 requires the recognition of certain lease assets and liabilities...

We’ve all been affected by COVID-19, either personally or in our businesses, and it was a long year for us all to endure. COVID-19 has had a significant impact on many areas affecting our business, both what we do, and how we do it. Some of these impacts are merely deferrals, others are perhaps a...

Ransomware has been in the news quitea bit lately, with the latest victim that we have all heard about being JBS Foods, a Brazilian company that is the world’s largest processor of beef and pork. On May 7th Colonial Pipeline had a malware attack on its customer billing system, causing the company to halt its...

One of the cornerstones of the audit profession is “Professional Skepticism”. The Generally Accepted Auditing Standards define this as “an attitude that includes a questioning mind and a critical assessment of audit evidence.” It’s this mindset that ensures auditors gather and examine evidence that supports the ultimate audit opinion. That mindset drives the decision making...

Cybercrime is getting more serious by the month.  The bad guys are getting quite smart about tricking people into clicking on fraudulent links or opening up malicious attachments to emails.  They are getting more sophisticated and even making communications look like they are coming from within the organization itself.  We know of clients that have...

The Internal Revenue Service (IRS) issued final rules regarding the domestic production activities deduction 199A(g) (DPAD) Thursday. The IRS has made the decision to not allow the DPAD to apply to non-member-based business. The Office of Information and Regulatory Affairs (OIRA) completed its review of the final regulations under 199A(g) and plan to reveal guidance...