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 Bureau of Indian Affairs is requesting comments on a new draft policy for determining how tribes’ contract support costs are calculated under self-determination contracts and self-governance funding agreements.

Alert
Changes to the schedule of expenditures of federal awards (SEFA) are required by the uniform guidance and effective for financial statement audits of fiscal years beginning on or after December 26, 2014.

Article
In this first quarter 2016 update, we cover some of the most important tax issues for companies in the technology, clean technology, life sciences, and communications and media industries and touch on what your organization can do to stay ahead.

Article
Current-year improvements and repairs might translate to tax savings. But the opportunity is lost if you don’t claim partial disposition losses in the year of disposal.

Article
Nondefense agencies and defense contractors should be formulating alternate ways to obtain audits for their non-DOD contracts now that the Defense Contract Audit Agency (DCAA) is prohibited from providing audit support to them.

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
The process tribes use to determine values for some investments is changing due to the GASB’s Statement No. 72, which provides guidance on fair value measurement and reporting for state, local, and tribal governments. It’s effective for periods beginning after June 15, 2015.

Alert
IRS Notice 2016-17, issued February 5, 2016, defers penalties for universities offering premium reduction arrangements for student health plans. The guidance offers transition relief for plan or policy years starting before January 1, 2017.

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.

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.

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.

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.

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
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 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.

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