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Learn MoreNot-for-profit organizations receive contributions in many shapes and forms. Over the years, stakeholders have expressed concerns regarding not-for-profit organizations and their lack of transparency surrounding contributed nonfinancial assets, such as fixed assets, supplies, materials and...
Read MoreWhile almost every entity and person has been impacted by the COVID-19 pandemic in some way, many businesses are taking to heart the lessons learned and rising to the challenges ahead. The wholesale and distribution industries are no different. While they certainly face obstacles, there are...
Read MoreAs your entity, or any entity, begins the process of emerging from bankruptcy under a plan of reorganization, it’s important to determine whether fresh start accounting should apply to the new company. Fresh start accounting is where balance sheet items are adjusted to fair values and gives an...
Read MoreWith the presidential election only weeks away, many policy issues are being discussed, including taxes. Among their many differences, President Donald Trump and former Vice President Joe Biden have widely divergent tax proposals. Their stances could have a major impact on the amount of taxes you’ll...
Read MoreThe Financial Accounting Standards Board (FASB) recently issued new guidance to simplify the accounting rules for convertible instruments and contracts in an entity’s own equity. Though narrower than initially proposed, the changes will provide investors with more comparable information that’s...
Read MoreCohen & Company is proud to announce Kristen deMoulpied, CPA, MBA, has joined the firm as a tax partner. Kristen has nearly 20 years of experience, ranging from serving as director of M&A tax strategy for a $20 billion global power management company, to specializing in corporate and transaction...
Read MoreGoing-concern issues are in the spotlight during the COVID-19 crisis as businesses continue to struggle. Accounting Standards Update (ASU) No. 2014-15, Presentation of Financial Statements — Going Concern (Subtopic 205-40): Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going...
Read MoreThe COVID-19 pandemic continues to wreak havoc on a number of industries, as we began discussing in our June blog. Presented below is updated data on the 10 industries hardest hit from COVID-19 through August, sorted by overall increase in filings. Number of Chapter 11 Filings...
Read MoreOn Friday, August 28, the IRS issued long-awaited guidance on the August 8 executive order for “Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” The executive order had directed Treasury to defer withholding, deposit and payment of the employee portion of certain payroll...
Read MoreThe new revenue recognition standard codified in FASB Accounting Standards Codification (ASC) 606 resulted in a number of changes for privately owned software and SaaS companies when it became effective on January 1, 2019. Now that many companies have completed their December 31, 2019, financial...
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