NSAC Happenings and Latest News - Page 18
Winter 2021 TCA Small Business Forum
Originally published in The Cooperative Accountant, Winter 2021 Issue Violations Enforced by Governmental Agencies Introduction To inhibit damaging practices and to encourage compliance, a plethora of government agencies enforce the compliance of regulations. Agencies like the Environmental Protection Agency (EPA) provide efficiencies to the market and peace of mind to consumers ...
Read MoreIs Goodwill Accounting’s Future in the Past?
Investors don't want to go back to an amortization model, but that's the way FASB is leaning. Portfolio managers and other investment professionals surveyed by the CFA Institute last week would prefer the Financial Accounting Standards Board (FASB) not travel back in time 20 years to attempt to improve the U.S. accounting standard for goodwill. FASB, however, seems intent on making the journey. Goodwill is the excess of the price paid for a ...
Read MoreNew FASB Standard Requires Businesses to Disclose Government Aid
A FASB standard issued recently will require businesses to disclose information in the notes to the financial statements about certain government assistance they receive. Previously, GAAP contained no specific, authoritative guidance for business entities on accounting for or disclosing government assistance they receive. The types of assistance the new standard requires to be disclosed include cash grants and grants of other assets. The ...
Read MoreUSDA Offers New Food Supply Chain Guaranteed Loan Program
The Food Supply Chain Guaranteed Loan Program is part of USDA’s Build Back America Better initiative to strengthen critical supply chains and our food system. This program guarantees loans of up to $40 million for qualified lenders to finance food systems projects, specifically for the start-up or expansion of activities in the middle of the food supply chain. The program will support new investments in infrastructure for food aggregation, ...
Read MoreSmall Business CFOs Must Build Ethical Awareness
Whether you work for a large public company or a smaller private one, the pressure to deliver results can be intense. Wall Street expects growth, the board of directors expects annual plans to be achieved, and owners expect a return on their investment, especially those who have put their life savings on the line. After nearly two years of COVID-19-driven economic turmoil, many companies, especially small- and medium-sized ...
Read More