Nonprofit Financial Statement Project/ASU Update – FASB Announces Transition Method and Effective Dates
The Financial Accounting Standards Board (FASB) reached much anticipated decisions regarding the transition and effective date for its Nonprofit Financial Statements Project, as of their most recent Board Meeting (3/30/16). The proposed Accounting Standards Update (ASU) would affect substantially all nonprofits as well as creditors, donors, grantors, and others that use their financial statements. Details […]
6 Tips for Greater Manufacturing Workplace Efficiency
The old adage “time is money” is especially true in the world of manufacturing. The more time and materials you waste, the less profitable you become.AAFCPAs outlined the following six tips to improve workplace efficiency based on our proven experience working closely with manufacturers over the past 40+ years: Do Not Skimp on Training Many […]
AAFCPAs Partner, Charlie Webb to Serve on Board of Directors of Habitat for Humanity
AAFCPAs is excited to announce that Charlie Webb, CPA has been appointed and agrees to serve on the Board of Directors for the Habitat for Humanity-Metro West / Greater Worcester (HFH MWGW). Charlie will donate his time, talent and expertise to better the strategic goals of the organization, and to help foster affordable housing opportunities […]
FASB ASU Clarifies Principal vs. Agent Revenue Recognition Considerations
AAFCPAs would like to make clients aware of a recent accounting standards update (ASU) issued by the Financial Announcing Standards Board (FASB) which clarifies the implementation guidance related to principal versus agent considerations. ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net), issued March 17th, 2016, […]
AAFCPAs Wealth Management Adds Depth to Wealth Advisory Expertise by Welcoming Carmen Grinkis
AAFCPAs Wealth Management, an affiliate company of AAFCPAs, is pleased to announce the addition of Carmen Grinkis, PhD, CLTC, CFP® as a Wealth Advisor and Director of Wealth Management. With over 25 years of diverse experience, Carmen is a seasoned professional providing comprehensive financial planning solutions for individuals, families, business owners, nonprofits & foundations. She […]
Amgen Issues Credit to 340B Covered Entities Due to Miscalculation of Drug Ceiling Price
AAFCPAs would like to make clients aware of potential credits owed to your organization as a result of a miscalculation of a drug ceiling price. Recently, the drug manufacturer Amgen USA Inc. notified the Health Resources and Services Administration (HRSA) that the 340B ceiling price for multiple products had been calculated incorrectly and that credits […]
MA DOR Announces Tax Amnesty 2016
AAFCPAs would like to make you aware that the Massachusetts Department of Revenue (DOR) has recently announced a 2016 Tax Amnesty Program, open to all individuals and businesses who have not filed all Massachusetts tax returns, or have underreported taxes on previously filed returns. The tax amnesty program is a limited-time opportunity, and allows taxpayers […]
The Inside Job: As technology advances, so does the proliferation of more complex fraud schemes
Net Assets Magazine | John Buckley, CPA, Partner, advises national, NBOA-member private schools to evaluate the intrinsic risks embedded in the potential rewards of technologies. From online tuition systems to point-of-sale credit card readers, established and emerging financial technologies foster greater efficiency for independent schools, along with superior convenience for vendors, parents, students and supporters. At the same time, […]
Matthew Boyle Talks About His Journey from Merrimack to the C-Suite
AAFCPAs Partner and Chief Marketing Officer Matthew Boyle has been selected by Merrimack College to serve on a panel on February 29th titled: Reaching the C-Suite: Corporate executives talk about their journey from Merrimack to the Chief Officer’s role. Matthew will join Dennis Leonard, President of Delta Dental of Massachusetts, and Kevin Rhodes, Executive Vice […]