Author: Rebecca Nalesnik
2023
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02.24
Delaware Franchise Tax Reminder
AAFCPAs would like to make clients aware that all companies incorporated in the state of Delaware are required to file an annual report and pay an annual franchise tax to Delaware each year by March 1st. We have outlined for your convenience two methods of calculating the franchise tax you owe: the authorized shares method, […]
2023
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02.15
GASB: Subscription-Based Information Technology Arrangements
AAFCPAs would like to remind entities following government accounting rules, including clients in the Charter School industry as well as other quasi-governmental organizations, of the Governmental Accounting Standards Board (GASB) Statement No. 96, Subscription Based Information Technology Arrangements, which is required to be adopted in FY 2023. GASB 96 applies to all subscription-based information technology arrangements […]
2023
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01.31
2022 HSN Supplemental Payments
AAFCPAs would like to make FQHC clients aware, as part of the Massachusetts Economic Growth and Relief Act of 2022, $20,000,000 was allocated to the Health Safety Net (HSN) Trust Fund for community health centers or hospital-licensed health centers (health centers) participating in the MassHealth program. Payments were to be made to the health centers […]
2023
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01.26
McManus Weighs in on Cannabis in 2023
Cannabis Regulator (January 23rd, 2023) – Interview: What Does 2023 Hold for Cannabis Companies? The legal cannabis industry remains fluid and growing as we head into a new year. Two more states approved recreational laws on Election Day 2022, expanding the map where marijuana is legal…
2023
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01.26
SOC Report: Why are our Sales & Marketing Teams Insisting we have one?
Prospects may ask for a SOC report as a way to assess the controls and processes in place at an organization before doing business with them. Many organizations, particularly in regulated industries or those that handle sensitive information, are required to demonstrate compliance with relevant regulations and industry standards. A SOC report can be an […]
2023
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01.25
Alex Santiago Earns Certified Ethical Hacker Credential
Boston (1/25/2023) – AAFCPAs, a leading CPA and Consulting firm based in New England, is pleased to announce Alex Santiago, Senior Associate, Business Process & IT Consulting, has earned the Certified Ethical Hacker (CEH) credential, a preeminent designation for information security professionals awarded by the EC-Council. (The International Council of Electronic Commerce Consultants). Alex is […]
2023
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01.24
AICPA Town Hall Technical Updates & Practice Strategies
AAFCPAs’ Managing Partner Carla McCall, CPA, CGMA contributed as a speaker at the AICPA’s first Town Hall of 2023, held January 5. They hosted nearly 9,000 attendees on this webcast. Carla is a member of the Board of Directors of the AICPA and Chair of its Audit & Finance Committee. Barry Melancon, president and […]
2023
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01.20
Guidance: CECL Standard for CDFIs
The long-awaited Current Expected Credit Losses (CECL) Standard, Accounting Standards Update 2016-13 – Financial Instruments-Credit Losses (Topic 326) will be effective for nonpublic business entities and not-for-profit entities for fiscal years beginning after December 15, 2022. This means CECL will be effective for the calendar year 2023 reporting period and fiscal year 2024 for off-year […]
2023
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01.19
Investment Performance – 2022 Recap.
As we look back on 2022, there are things for which we can be grateful, but market performance is certainly not one of them. Investment Performance – 2022 Recap. Around the world, few markets provided positive performance in what turned out to be the worst year for US investors since the Great Financial Crisis of […]
2023
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01.18
More Ideas for Future Firms
Accounting Today (January 16th, 2023) – Legislation, regulation, market demand, new technologies and demographics have traditionally been the most common drivers of change in the accounting profession — but more and more, new ideas are what are reshaping firms. From new business models and innovative approaches to employment and…