CFOs Are the Right-Hand of CEO/Leadership, and Driven by Great Expectations
The role of the CFO continues to become increasingly complex and strategic, and as the role evolves, so do the expectations of the CEO. AAFCPAs’ CFO Survey, conducted in collaboration with FEI-Boston, captured feedback from more than 250 senior financial executives from the Northeast region of the United States. 60% of respondents reported moderate to […]
MTRS Issues Final GASB 68 Report, Providing Charter Schools with Their Portion of Pension Expense and Revenue
AAFCPAs would like to make Massachusetts Charter School clients aware that the Massachusetts Teachers’ Retirement System (MTRS) has issued its GASB 68 “Schedule of Nonemployer Allocations and Schedule of Collective Pension Amounts” report for the year ended June 30, 2017. The Schedules are available here. >> AAFCPAs reminds clients, per Governmental Accounting Standards Board (GASB) […]
FASB Issues Revenue and Expense Recognition Standard for Nonprofit Grants and Contributions
On June 21, 2018, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contribution Made intended to address the diversity in practice among not-for-profit organizations for grant and contribution accounting. ASU 2018-08 applies primarily to nonprofits, […]
South Dakota v. Wayfair, Supreme Court Rules States Can Require Online Sales Tax
AAFCPAs would like to make clients aware that the US Supreme Court on Thursday, June 21, 2018, in the case of “South Dakota v. Wayfair,” overturned its 1992 “Quill” decision, which had barred states from requiring internet and mail order vendors with no physical presence in a state from collecting sales tax on transactions involving […]
AAFCPAs Earns SOC for Cybersecurity Services Certificate
AAFCPAs’ Partners James Jumes, MBA, M.Ed. and Robin Kelley, CPA, CITP, CGMA, CSPM, CCSFP have earned the System and Organization Controls (SOC) for Cybersecurity Certificate issued by The Association of International Certified Professional Accountants (AICPA). SOC for Cybersecurity is a new entity-wide cybersecurity audit that allows organizations to voluntarily report on their cybersecurity management programs […]
Massachusetts Supreme Judicial Court Rules Millionaire Tax Unconstitutional
AAFCPAs would like to make clients aware that a proposed ballot question seeking to impose a 4% surtax on Massachusetts individuals on the portion of taxable income exceeding $1 million has been ruled unconstitutional by the Massachusetts Supreme Judicial Court (SJC). Individuals with income below this threshold were not to be affected. The proposed ballot […]
Webinar: AAFCPAs Revenue Recognition Guidance for Businesses
AAFCPAs provides an overview of new Revenue Recognition standards for Commercial Businesses. Listeners gain an understanding of how the new standard could impact revenue recognition and company policies, and what they should be doing now to prepare for adoption. This revenue recognition webinar will cover: An overview of the revenue recognition standard Effective dates and […]
AAFCPAs to Participate in 8th Annual MSCPA Day of Service
AAFCPAs will again proudly participate in the Massachusetts Society of Certified Public Accountants’ (MSCPA’s) 8th Annual Day of Service on June 15th, 2018. Community Services is a core value of AAFCPAs, and the essence of our culture. Fifty five of AAFCPAs’ team members will receive a day’s pay to encourage their experience of the joy […]
Enter AAFCPAs’ Drawing to Attend the BBJ’s 2018 CFO of the Year Awards 7/19 in Boston
AAFCPAs is proud to again SPONSOR the Boston Business Journal’s (BBJ) 10th Annual CFO of the Year Awards on July 19th, 2018. We would love to have you join us for this memorable event! We are holding a random drawing to reward one lucky AAFCPAs client with a complimentary ticket to the luncheon event, which will gather 400 […]