Author: Sue Thompson

Peer Review Practice

April 4, 2019 by Sue Thompson
Audit & Accounting, Copeland Buhl
CPA firms who participate in the AICPA Peer Review Program are subject to Peer Review by an outside CPA firm every three years.  Participation in this program allows CPA firms to enhance their quality control policies and procedures, and to determine how their firm measures up to other firms and...
Read More

Accounting for Leases

June 12, 2018 by Sue Thompson
Audit & Accounting, Copeland Buhl
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 Leases early in 2016.  The primary purpose of the new standard is to present on a balance sheet leases that otherwise would have been treated only as an expense in an income statement.  The standard impacts those who...
Read More

New Not for Profit Accounting Standard

February 21, 2017 by Sue Thompson
Copeland Buhl
In August 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-14 Not-for-Profit Entities (Topic 958):  Presentation of Financial Statements of Not-for-Profit Entities. Financial reporting guidance for Not-for-Profit (NFP) entities prior to the new standard had not undergone any major changes in 20 years.  The FASB’s goal was to enhance...
Read More
Sign up for our newsletter to keep up on the latest news and tax accounting tips.