May 2019 Article Archives

Microsoft Will Soon End Support for Windows 7. Now What?

Published on May 20, 2019

If you haven't already upgraded to Windows 10, add the task to your to-do list
Over the next few weeks, millions of PC users will receive pop-up messages from Microsoft informing them that the Windows 7 operating system will reach the end of its life in January 2020.

After that, consumers will no longer receive updates of any kind, including critical security patches, for the nearly 10-year-old platform—potentially putting their computers at increased risk for viruses and other forms of malware.

“By starting the reminders now, our hope is that you have time to plan and prepare for this transition,” wrote Matt Barlow, corporate vice president, Windows, in a recent blog post. Microsoft recommends that consumers move to Windows 10, which it claims is the most secure version of the operating system ever developed.

Read More >>

FBI Sees Big Rise in Internet Crime Complaints, Losses

Published on May 20, 2019

The FBI received nearly 17% more complaints in 2018 than in 2017, and nearly double the losses.

The Federal Bureau of Investigation’s Internet Crime and Complaint Center received 50,000 more complaints in 2018 (351,936) than in 2017 (301,580), with losses from those complaints amounting to $2.7 billion, a $1.3 billion jump from the $1.4 billion in losses reported in 2017, according to the agency’s recently released crime report.

The report, released Monday, found that California, Texas and Florida rank among the highest states for both the number of victims and the value of losses.

Read More >>

Final Guidance FASB Issues Amendments to the Three New Standards on Financial Instruments

Published on May 20, 2019

The FASB amended its standards on credit losses, hedging, and recognizing and measuring financial instruments to clarify them and address implementation issues.

The amendments clarify the scope of the credit losses standard and address issues related to accrued interest receivable balances, recoveries, variable interest rates and prepayments, among other things.

With respect to hedge accounting, the amendments address partial-term fair value hedges, fair value hedge basis adjustments, application by not-for-profit entities and private companies, and certain transition requirements, among other things.

On recognizing and measuring financial instruments, they address the scope of the guidance, the requirement for re-measurement under ASC 820 when using the measurement alternative, certain disclosure requirements and which equity securities have to be remeasured at historical exchange rates.

Read More >>

Strategic Planning Is A Process—Not An Event

Published on May 20, 2019

Most of the enterprises I’ve worked with have been strategically minded…focused on sustained growth and profitability. Some had written plans, others did not.  For those that did not, but ultimately opted to initiate a formal process, they found a bumpy road, often cluttered with false starts.  In the end though, most felt it was worth the ride. 

If you’re embarking on this journey or trying to energize the one you have started, here are a few things I’ve learned along the way. 

Read More >>

IRS Adjusts Maximum Value of Employer-provided Vehicles for Inflation

Published on May 20, 2019

The Internal Revenue Service has issued a notice setting the inflation-adjusted maximum value of a vehicle provided by an employer to an employee for personal use at a maximum of $50,400 for tax purposes. 

Notice 2019-34 provides the inflation-adjusted maximum value of a vehicle — such as a car, van or truck — for 2019 for use with the fleet-average and vehicle cents-per-mile valuation rules. The notice also includes information about where the maximum value will be published in the future, and provides some extra flexibility for 2018 and 2019 in the consistency requirements under the existing regulations relating to use of the fleet-average and vehicle cents-per-mile rules. 

Read More >>