FASB Decisions Regarding NFP Financial Statements Project from March 2 Meeting
The Financial Accounting Standards Board (FASB) continued its Phase 1 deliberations at its March 2nd, 2016 Board Meeting on the proposed FASB Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. Significant Decisions Made at the Board’s March 2016 Meeting: The proposed ASU would […]
Extensions Apply for FQHCs as New Cost Report Form Still in Review with OMB
AAFCPAs would like to make clients aware that, as of March 11, 2016, the new Federally Qualified Health Centers (FQHCs) Cost Report Form 224-14 had not been finalized and is reportedly still in review by the Federal Office of Management and Budget (OMB). It is reported that the Centers for Medicare & Medicaid Services (CMS) […]
Stock Compensation, Accounting for Share-Based Payments
Many entities compensate their employees, not by “cash salary,” but rather by using equity awards, commonly in the form of what is referred to as “stock compensation.” The amendments in Accounting Standards Update 2014-12 – Compensation – Stock Compensation (Topic 718), apply to all reporting entities that grant their employees share-based payments in which the […]
AAFCPAs David Consigli to Present at the Salem Bar Association
David Consigli, Jr., CPA, ABV, AAFCPAs’ Director of Business Valuations, will volunteer his time and expertise to present “Everything You Need to Know About Business Valuations” as part of the Salem Bar Association’s monthly Smart Talks Series. David will offer guidance for attorneys on when business valuations may be beneficial in litigation, and provide real examples […]
AAFCPAs Adds Depth of Expertise in Commercial Tax by Welcoming Bella Amigud
AAFCPAs is pleased to announce the addition of Bella Amigud, CPA, MST, Senior Tax Manager, to the firm’s Commercial Tax practice. Bella brings over 13 years of experience providing compliance and tax planning solutions for public and privately-held companies, and family-owned businesses in a variety of industries, including: healthcare technology, high tech, software, green tech, […]
CMS Requires Payroll-Based Journal, Electronic Staffing Data Submission for Skilled Nursing Facilities, Effective July 1, 2016
Effective July 1, 2016, skilled nursing facilities (SNFs) will be required to submit staffing, time and attendance information electronically to the Centers for Medicaid and Medicare Services (CMS) via their Payroll-Based Journal (PBJ) system. These requirements originate from section 6106 of the Patient Protection and Affordable Care Act (PPACA), and the final rule requires facilities […]
Nonprofit 411: The “Bucket System” for Nonprofits: Managing Cash and Investments
MassNonprofitNet.org | Joel Aronson, CPA, PFS, MBA, Partner AAFCPAs Wealth Management, advises nonprofits to create “buckets” for working capital, reserves, and long-term investments when there is cash on the books…
A View from the Trenches: Handling the IRS, clients and the other frustrations of tax filing season
AccountingToday.com | AAFCPAs Co-Managing Partner Dave McManus believes now is the time to educate clients regarding tax planning as a year-round exercise. “We’re not looking solely at the compliance process at the end of the year. Our objective is to work with clients throughout the year and to get a real sense of who they are, how their business […]
Medicare PPS Base Rate for 2016
As a reminder, on January 1, 2016, Medicare increased the Prospective Payment System (PPS) base payment rate from $158.85 to $160.60. The PPS base payment rate is effective for the calendar year 2016 and reflects a 1.1% increase from the calendar year 2015 rate. The rate was updated to reflect inflation, and the increase is […]