Insights

Revenue Recognition

The new Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers, fundamentally changes how companies across nearly every industry will recognize revenue. Learn more about how this affects you and your business as well as what’s required and the effective dates.

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Combining technical expertise with our keen understanding of our clients' businesses, we offer knowledgeable commentary on a broad spectrum of accounting, tax, finance, and business operations issues.

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Alert
The US House Committee on Ways and Means and the US Senate Committee on Finance sent a letter to 56 institutions inquiring about endowments greater than $1 billion held by colleges and universities to understand how they use their endowment assets.

Article
Proposed Oregon Initiative Petition 28 would impose an unlimited gross receipts tax on C corporations with Oregon sales of more than $25 million. If passed, this tax would have significant ramifications for businesses and residents in Oregon.

Report
This report aims to uncover ground-level issues and challenges in corporate governance and provide best practices the middle market can readily implement.

Article
(California Healthcare News) Whether you agree or disagree with the Patient Protection and Affordable Care Act of 2010, it has begun an evolution in the health care industry and is driving significant change and innovation.

Alert
The FASB’s ASU 2016—02 Leases (Topic 842) will require substantially all leases to be recognized by lessees on the balance sheet as a right-of-use asset and corresponding lease liability, including today’s operating leases, among other changes.

Report
US-source interest income paid to nonresidents is subject to 30 percent withholding tax, with several exceptions. Portfolio debt interest is one, but traps for the unwary make it murky territory. Details in this white paper.

Webcast
(Run time: 66:00) Businesses could see significant tax savings in tax year 2015 and beyond through select provisions from the Protecting Americans from Tax Hikes Act of 2015. These provisions relate to the Section 179 expensing election to immediately deduct the cost of certa...

Article
Depletion methods are an effective tool to defer taxes and increase cash flow for timber companies that have recently purchased timberland, plan to make investments in timberland ownership, or have timberland holdings that produce taxable income.

Article
Effective January 1, 2017, new off-campus hospital departments will be subject to site-neutral payments—in other words, they won’t be reimbursable under the outpatient prospective payment system. Details in this Insight.

Alert
Prompted by an amendment to Multistate Tax Compact’s apportionment models, Washington state has revised its rules for how financial institutions must apportion income for purposes of business and occupation (B&O) tax.

Alert
Following a revamp of its MyFTB tax filing system, California taxpayers need to reactivate their accounts. Start now to make sure you’re prepared for the April 15 deadline and protect your identity against hackers.

Alert
Recent legislation retroactively restored the federal tax credit for propane use, which expired December 31, 2014. It’s now extended through December 31, 2016. The credit is 50 cents per gallon or gasoline gallon equivalent and remains refundable.

Article
Deficiencies can bring the audit or compliance process to a standstill and create tension among management, the audit committee, and external stakeholders. Fortunately, many of the most common deficiencies—we’ve identified 10—can be avoided.

Webcast
(Run time: 69:00) Understanding the impacts of Section 603 of the Bipartisan Budget Act of 2015 on hospital off-campus outpatient departments.

Alert
The California Supreme Court ruled that companies may not elect to apportion in-state and out-of-state income using the Multistate Tax Compact’s three-factor, evenly weighted apportionment formula. Details in this Alert.

Article
Generational shifts and a competitive labor market are changing the way technology companies must approach their succession plans. We provide insight on some key strategies that will help make yours successful and sustainable.

Alert
The IRS extended some due dates for some filings required by the ACA. Employers must provide Forms 1095-B or 1095-C to employees by March 31 and all Forms 1095 to the IRS by February 29 (if paper) or June 30 (if electronic).

Alert
Seattle mayor Ed Murray signed Seattle City Ordinance Number 124910 on December 1, 2015, ending the Seattle square-footage business tax. Effective January 1, 2016, this change means the last tax due is for the period ending December 31, 2015.

Alert
New FASB guidance enhances the reporting model for financial instruments in hopes of making information more useful to financial statement users. FASB reporters should evaluate the potential impact and potential benefits of early adoption.

Alert
The 2015 tax extender law brought good news for companies with international operations, making the Subpart F active financing exception permanent and extending the look-through rule through year-end 2019. Details in this Alert.

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