Category: Audit & Accounting
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...
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January 15, 2018 by Cat Tucker
Today it feels like it is only a matter of time before your financial information is compromised. Here are suggestions on what to do to protect your information and the steps you should take if you are a victim. Protect your information: Do not give out your social security number....
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December 21, 2017 by Phonzie Moua
W-2 phishing season is just a few weeks away. For the past several tax seasons, cyber criminals have used sophisticated social engineering tactics to dupe hundreds of payroll and HR departments into providing W-2 data on their employees. This results in the filing of fraudulent tax returns, other identity theft...
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December 13, 2017 by Cat Tucker
The banking rules for businesses are changing effective May 11, 2018, however some banks are implementing the changes early. Therefore, next time you open a business bank account, or renew your line of credit, don’t be surprised if they ask for additional information regarding the individual owners of the business....
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Although the effective date is still more than a year out, business owners and Accounting personnel are starting to prepare and ask questions on how the new standard will affect them. While the new standard will have substantial effects on some industries (Construction, Insurance, Not-for-Profit) , others won’t notice much...
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