General Article Archives

Upskilling for Accountants

Published January 24, 2022

Originally published in The Cooperative Accountant, Winter 2021 Issue What is “upskilling”?  Merriam-Webster (n.d.) defines “upskill” as a verb:  transitive: to provide (someone, such as an employee) with more advanced skills through additional education and training   intransitive: to acquire more advanced skills through additional education and ...

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TAXFAX Winter 2021

Published January 19, 2022

Originally published in The Cooperative Accountant, Winter 2021 Issue IRS Releases Revised Hobby Loss Audit Technique Guide To assist agents in the field, the IRS has developed a series of publications which it calls audit technique guides (“ATGs”). According to the IRS website: “ATGs explain industry-specific examination techniques and include common, as well as, unique industry issues, business practices and ...

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ACCTFAX Winter 2021

Published January 13, 2022

Originally published in The Cooperative Accountant, Winter 2021 Issue FASB PROPOSES IMPROVEMENTS TO FAIR VALUE GUIDANCE FOR EQUITY SECURITIES  On September 15, 2021, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would improve financial reporting for investors and other financial statement users by increasing comparability of financial information across reporting ...

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Winter 2021 TCA Small Business Forum

Published January 3, 2022

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 ...

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Fall 2021 ACCTFAX

Published November 15, 2021

Originally published in The Cooperative Accountant, Fall 2021 Issue FASB ISSUES STANDARD TO IMPROVE A LESSOR’S ACCOUNTING FOR CERTAIN LEASES WITH VARIABLE LEASE PAYMENTS On July 19, 2021, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve an area of the leases guidance related to a lessor’s accounting for certain leases with variable lease payments. During the ...

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