General Article Archives - Page 11
Starting or Jump-Starting an Internal Audit Department?
Organizations will deploy many layers of defense to ensure there are sufficient controls in place to manage risk, avoid setbacks, and aid in achieving company objectives. The Institute of Internal Auditors (IIA) is an industry authority on internal auditing, along with other functions related to the internal auditing function.
Read MoreTAXFAX- Updates to the PPP Loan Program and Cooperatives
Under the Coronavirus Aid, Relief, and Economic Security Act (“CARES”) enacted in April of 2020, Congress announced the Paycheck Protection Program (“PPP”) to help small businesses weather the negative economic impact caused by the COVID pandemic. Loans under the PPP are 100% guaranteed by the Small Business Administration (“SBA”), and the full principal amount of the loans and any accrued interest may qualify for loan forgiveness.
Read MoreACCTFAX Bulletin Board
The Private Company Council (PCC) met on Thursday, December 3, 2020. Below is a brief summary of issues addressed by the PCC at the meeting: PCC Issue No. 2018-01, Practical Expedient to Measure Grant-Date Fair Value of Equity-Classified Share-Based Awards: FASB staff gave an overview of the feedback received from comment letters in response to the proposed Accounting Standards Update—Compensation—Stock Compensation (Topic 718):
Read MoreCooperatives and Covid: Managing for Safety
“Three-quarters of the world’s CEOs say more emphasis should be placed on measuring the value of non-financial assets such as intellectual capital and customer relationships,” writes Fred Reichheld, Bain & Company, quoting from a study of the AICPA (Reichheld, 2012, p.1). The expansion of performance measures beyond the traditional financial accounting measures was accelerated by the landmark Harvard Business Review article, The ...
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NSAC releases the Spring 2021 issue of The Cooperative Accountant
NSAC publishes a technical journal, The Cooperative Accountant (TCA), exclusively for its membership on a quarterly basis. Each issue includes articles covering many cooperative related issues. Topics include accounting & auditing issues, finance and banking, cooperative management and operations, legal and regulatory issues and taxation. Sections addressing the specific needs of individual groups of members include: Small Cooperative ...
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