General Article Archives - Page 6

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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TCA 2021 Small Business Forum

Published November 15, 2021

Originally published in The Cooperative Accountant, Fall 2021 Issue FASB Simplification Initiative Related to Income Taxes In recent years the Financial Accounting Standards Board (FASB) launched the Simplification Initiative to reduce unnecessary complexity in the various areas of accounting.  The Simplification Initiative has resulted in several narrow scope changes to the accounting guidance while maintaining the decision ...

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TAXFAX Fall 2021

Published November 15, 2021

Originally published in The Cooperative Accountant, Fall 2021 Issue Employee Retention Credit The CARES (“Coronavirus Aid, Relief, and Economic Security”) Act enacted in March of 2020 provided various benefits for employers to retain their current employees amid the economic downturn of the pandemic.  The Employee Retention Credit (“ERC”) was first introduced in this Act.  In December of 2020, the ERC was ...

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Comparing Two Lists or Datasets in Microsoft Excel

Published November 15, 2021

Originally published in The Cooperative Accountant, Fall 2021 Issue Many tasks that accountants and auditors perform require comparing two lists, or datasets, to find matching, non-matching, or missing values.  Some of these tasks include bank statement reconciliations, general ledger, and account reconciliations.  Auditors also compare lists or datasets for analysis to investigate anomalies or identify trends in data, as well as ...

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