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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Article
In this Q3 update, we cover important tax issues for companies in technology, clean technology, life sciences, and communications and media, including what your organization can do to stay ahead.

Article
When ready to exit their business, many nursery owners jump straight to transaction price. Increase your value by thinking through these important factors first.

Article
If you donate or receive noncash property, there are additional filing requirements by the IRS, specifically Forms 8283 and 8282. There are penalties if a form isn’t filed or is filed incorrectly.

Alert
Real estate dealers will need to calculate their limited liability company fees differently according to a legal ruling by the State of California Franchise Tax Board. Read more in our Alert.

Article
Classifying trade spend costs can be confusing. It’s often incorrectly considered a selling expense when it should be netted against revenue. We cover exceptions and some tips in this Insight.

Alert
The Washington State Department of Revenue determined that payments made by the FDIC to banks that acquire the assets or liabilities of other failing banks are subject to state B&O tax.

Alert
On June 16, 2016, the FASB issued ASU 2016-13—the final credit loss standard—and added ASC Topic 326, Financial Instruments–Credit Losses, to US GAAP. Read our Alert for details.

Article
C corporations with a net capital gain and qualified timber gain can utilize IRC Section 1201(b) for tax years beginning after December 31, 2015. This marks the first tax rate drop in decades.

Article
What was the automotive and dealer industry talking about at the NADA Convention? Discussions spanned buying, selling, and finding talent to manage and build dealerships in a complex environment.

Article
Transportation companies have a lot to gain from tax deferrals in terms of cash flow, but the liabilities they create are often mismanaged—which can spell trouble in a transaction.

Article
Few business transactions are as complex as those involving auto dealerships. In this Insight, we examine a few of the unexpected but common pain points buyers and sellers encounter during the process.

Alert
North Carolina tax legislation imposed a new filing requirement related to sales and apportionment data on certain C and S corporations. This one-page form is due April 15, 2016, with no extensions and a $5,000 late-filing penalty.

Article
Wineries and vineyards have a number of tax-planning opportunities available to them—from accounting method elections to domestic international sales corporations, farming income averaging, and more. Learn more in this Insight.

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.

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
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.

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 PATH Act makes many popular business tax breaks permanent while extending others through 2016 or 2019. We look at some of the provisions that may produce significant tax savings for businesses in 2015 and beyond.

Alert
The new tax extender law makes quite a few tax breaks permanent while enhancing others. This Alert details some of these changes, including education credits, transit benefits, mortgage-related deductions, and more.

Article
Charitable gifts made before year-end can provide a valuable deduction against your 2015 taxes. As the year winds down, consider gifting options beyond your checkbook to increase the tax efficiency of your gifts.

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