NSAC Happenings and Latest News - Page 89
8 Tips for Conducting a Great Virtual Meeting
Today, face-to-face gatherings are becoming more the exception than the norm, as organizations embrace "virtual meetings" — audio or video conferences — allowing employees or clients in remote locations to connect via the web and by phone. As organizations become more global, virtual meetings are an absolute necessity in today's workplace. Remote-access meetings offer other benefits: the ability to invite more people; happier ...
Read MoreLeases: A portfolio approach
Shifting application from an individual lease to a portfolio level offers practicality and cost minimization for companies adopting FASB’s new lease accounting standard. Here are tips for applying a portfolio approach: Assess the lease population. Materiality and volume are key characteristics of a lease population. Material individual leases are often specifically identifiable and have established data collection and ...
Read MoreIRS Issues HSA Contribution Limits for 2019
The IRS issued the calendar year 2019 inflation-adjusted figures for the annual contribution limits for health savings accounts (HSAs) and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible health plans (Rev. Proc. 2018-30). Under Sec. 223, individuals who participate in a high-deductible health plan (HDHP) are permitted a deduction for contributions to HSAs set up to help pay their medical ...
Read MoreIRS Offers Automatic Method to Change Accounting for New Revenue Recognition Standard
The Internal Revenue Service has released a new revenue procedure that provides a new automatic way that companies can use when changing their accounting method to conform to the Financial Accounting Standards Board’s new revenue recognition standard. In Revenue Procedure 2018-29, the IRS noted that under the new FASB standard, an entity must recognize revenue, for financial statement purposes, for goods and services promised ...
Read MoreCompanies Foresee Major Impact from Lease Accounting Standard
More than three-quarters of the top 100 U.S. companies with the biggest lease obligations expect to see a material impact on their balance sheet from the new lease accounting standard, according to a new report. The report, from the technology company LeaseAccelerator, analyzed a recent set of Securities and Exchange Commission filings related to the adoption of the leasing standard, also known as ASC 842, which takes effect for ...
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