NSAC Happenings and Latest News - Page 73
Final Guidance FASB Issues Amendments to the Three New Standards on Financial Instruments
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 ...
Read MoreStrategic Planning Is A Process?Not An Event
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 ...
Read MoreIRS Adjusts Maximum Value of Employer-provided Vehicles for Inflation
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 ...
Read MoreHow to Make a Winning Speech
For some CPAs, public speaking can be the stuff of nightmares. But those able to conquer their nerves can reap great rewards from making speeches, leading seminars, and sharing knowledge with peers. In 1985, Allan Koltin, CPA, CGMA, was 28 years old and terrified when he delivered his first speech at a national AICPA conference. "Everyone in the audience knew more than I did," he recalled. "My leg kept shaking and I couldn't stop it. I was ...
Read MoreBest Practices: The Importance of Conducting an Annual Fraud Checkup
The Centers for Disease Control and Prevention recommend annual checkups for individuals of all ages. Why? Because "regular health exams and tests can help find problems before they start." Not only is this true for our personal health, but also for the health of companies. When unchecked for too long, many companies unknowingly foster workplaces susceptible to fraud, which can cause devastating financial and reputational losses. Vulnerability ...
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