Blog
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MA OSD Provides Automatic Extension of UFR Deadline to 1/15/2021
AAFCPAs would like to make clients aware that with the Massachusetts Uniform Financial Statements and Independent Auditor’s Report (UFR) filing deadline of 11/15/2020 being extended to 1/15/2021, UFR filers are not required to file a request for extension. FY2020 Supplier Diversity Program (SDP) Form Filings While the deadline for the full UFR filing has been […]
Updated Reporting Requirements for the CARES Act Provider Relief Fund: What Providers Need to Know
On Sept. 19, the U.S. Department of Health and Human Services (HHS) issued updated guidance relating to general and targeted distributions made under the Provider Relief Fund (PRF). There were some significant changes as a result, including to the information that must be reported and how lost revenue should be calculated. The changes generated significant attention and […]
Updated Reporting Requirements for Provider Relief Funds; Revised Definition of Lost Revenue
AAFCPAs would like to make clients aware, on October 22, 2020, the U.S. Department of Health and Human Services (HHS) issued an updated Post-Payment Notice of Reporting Requirements (the Notice) relating to General and Targeted Distributions made under the Provider Relief Fund (PRF). This Notice updates the calculation of lost revenue. On September 19, 2020 […]
Secure Your IT Infrastructure & Create Resiliency
IT infrastructure is the combination of hardware, software, communications, data centers/hosting services, and human resources that allows an organization to deliver information technology services to its constituent communities. IT resiliency refers to an organization’s ability to avoid or minimize business disruption when the IT infrastructure is challenged by planned or unplanned events, such as the […]
2020 Cyber Crime, Cyber Security Awareness Month
In recognition of National Cyber Security Awareness Month and to foster client awareness of cyber hazards, AAFCPAs’ IT Security professionals have outlined cybersecurity risks and mitigation strategies applicable to 2020 current events. COVID-19 has changed business operations resulting in increased IT security risks, especially risks from the abrupt shift to support remote work. Even when […]
AAFCPAs’ New Remittance Address
AAFCPAs would like to make clients aware that we have opened a lockbox service with People’s United Bank to streamline the processing of client payments. In order to ensure the highest level of service to all clients, we are kindly asking that you please update your records to reflect our new remittance address and send […]
AAFCPAs Explains Descriptive, Predictive, Prescriptive, and Compliance Data Analytics
Key Business Questions (KBQs) are questions that establish a framework for an organization looking to gain insights produced by analytics. They are central to understanding the past and overall strategy you are deploying or considering deploying in the future. AAFCPAs assists clients in defining and prioritizing high-value KBQs in order to bridge the divide between […]
AAFCPAs Releases 2020-2021 Tax Planning Guide for Businesses & Individuals
In 2020, tax planning is more complicated than usual. We now have a full view of the impact of United States’ massive 2017 Tax Cuts and Jobs Act (TCJA) and the 2019 Further Consolidated Appropriations Act on clients’ short and longer-term tax planning strategies. We must now evaluate these Acts in tandem with the $2.2 […]
Did Your Accounting Department Thrive While Remote?
Many finance departments were put to the test when forced to transition to a remote workforce in response to the Coronavirus pandemic. Those that had already moved processes and systems to the cloud were able to adapt quickly. Those that outsourced their finance function to AAFCPAs’ Managed Accounting Solutions (MAS) group did not skip a […]