Blog
Our Blog acts as a great resource of topical information for the finance community. Use the search function to find specific topics or browse our categories to benefit from our past shared learnings.
Diamond, Doiron Join AAFCPAs’ Assurance Team
Boston, MA (12/22/21) – AAFCPAs, a best-in-class CPA and consulting firm known for assurance, tax, accounting, wealth management, business process, and IT advisory solutions, today announced the addition of Aaron Diamond, CPA and Gerry Doiron, MSA, CPA, Managers in the firm’s growing Commercial Assurance practice. Aaron Diamond, CPA and Gerry Doiron, MSA, CPA (L-R) Aaron […]
IRS Clarifies 4% Floor Ruling for LIHTC
AAFCPAs would like to make clients who engage in Affordable Housing projects aware of recent IRS Revenue Rulings 2021-20 and 2021-43, which aims to clarify the eligibility of Low-Income Housing Tax Credit (LIHTC) projects to qualify for the new 4% floor ruling. The IRS has published three situations listed below: Situation 1 A project is […]
AAFCPAs Launches Flexible Work Arrangements Policy for Staff
AAFCPAs recently launched a Work from Anywhere model, which allows our 300+ member team the flexibility to customize how, when, and where they work, as long as the individual’s plan accounts for excellence in client service! “Covid has certainly offered life-changing experiences for us all,” said Carla McCall, the firm’s Managing Partner. “At AAFCPAs, we […]
Consulting Controllers Join AAFCPAs Managed Accounting Solutions Practice
Boston, MA (12/08/2021) – AAFCPAs, a best-in-class CPA and consulting firm known for assurance, tax, accounting, wealth management, business process, and IT advisory solutions, today announced the addition of Marybeth Foster, Ashleigh Marks, CPA, and Pamela Seymour, CPA. Marybeth, Ashleigh, and Pamela join AAFCPAs’ growing Managed Accounting Solutions (MAS) Practice, which provides high-quality, cost-effective, cloud-based […]
Guidance on New Lease Accounting Standard
In 2016, FASB issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) to increase transparency and comparability of lease transactions. AAFCPAs has summarized some of the most significant changes resulting from the new ASU for your convenience: AAFCPAs has provided a detailed Whitepaper providing guidance on the FASB’s new Lease standard so clients may proactively […]
Happy Holidays from AAFCPAs 2021
All of us at AAFCPAs wish you and your family an extraordinary, happy, healthy holiday! In lieu of a holiday card or gift , AAFCPAs has made a donation to the Cancer Research Institute in Memorial to Michael Oliveira, MBA and to the Birolini Family Fund in Memorial to Joseph “Joey” Robert Birolini. Michael and […]
$29K Donated in Firm’s GivingTuesday Match Program
In 2021, AAFCPAs celebrated our sixth annual participation in #GivingTuesday, a movement that unleashes the power of radical generosity around the world! Collectively, AAFCPAs’ 270+ team members and our Charitable Foundation’s Employee Matching Gifts program donated over $29,000 to mission driven nonprofits during the 2021 #GivingTuesday drive! AAFCPAs’ six-year donation total for the #GivingTuesday movement […]
Watch Now: AAFCPAs’ 2021 Guide to Lease ASU Implementation
Implementing FASB Accounting Standards Update No. 2016-02, Leases (Topic 842) The time is now to develop your implementation plan! Topic 842 affects all companies and other organizations that have lease agreements for assets such as real estate, IT, office, and manufacturing equipment. Implementing the new lease standard is not just a one-time exercise. It requires […]
OSD Clarifies UFR Reporting of COVID-Related Funds
AAFCPAs recently received clarification for UFR filers related to reporting of certain COVID-related funding. (As a reminder, due to COVID-19, the Operational Service Division (OSD) granted a 30-day extension to the Uniform Financial Report (UFR) FY2021 filing deadline, now due December 15th. UFR filers are not required to file a request for this extension.) AAFCPAs […]