Industry
New Revenue Recognition Accounting for Nonprofits: Contribution or Exchange Transaction?
On June 21, 2018, the Financial Accounting Standards Board (FASB) issued a final Accounting Standards Update (ASU) 2018-08, Not-For-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. This ASU clarifies and reduces the current diversity in practice in accounting for grants and contributions, particularly for grants and […]
Watch Now: 340B Compliance Webinar – 2019
This educational webinar provided attendees with an understanding of compliance requirements for running a 340B in-house or contract pharmacy, including: How to successfully prepare for an Office of Pharmacy Affairs (OPA) audit How to ensure 340B Program integrity and maintain accurate records documenting compliance with all 340B Program requirements Major risks of the 340B Program […]
AAFCPAs Shares Tax Expertise at MNN Annual Conference
AAFCPAs will happily present an educational workshop on How New Federal Tax Laws Impact Nonprofits at The Massachusetts Nonprofit Network’s (MNN) 2019 Annual Conference in Framingham, MA on October 16th. Tax Update: How New Federal Tax Laws Impact Nonprofits The IRS issued new guidance related to the Federal Tax Cuts & Jobs Act’s (TCJA) widespread […]
To Stay Secure, Think Like a Fraudster
Take the case of one private secondary school, where the business officer was accused of cutting checks worth more than $50,000 to pay for personal travel expenditures. He entered the transactions into the school record as payments for school travel. Because the hotels and airlines were the same companies the school used for professional development, […]
AAFCPAs Shares Expertise at Providers’ Council Annual Conference
AAFCPAs will happily present educational workshops on two important topics at the Providers’ Council 44nd Annual Convention & Expo in Boston, MA on October 7th. Anticipate the Fraudster Auditors identify weaknesses in internal control procedures and make recommendations to management for enhanced controls to mitigate the opportunity for fraud. However, combatting fraud requires more than […]
AAFCPAs Releases 2019-2020 Tax Planning Guide for Businesses & Individuals
As we approach the second tax filing season under the monumental Tax Cuts & Jobs Act (TCJA), we now have a clearer and broader view of what the future holds for businesses, individuals, tax exempt and government entities. This view includes insight into opportunities and pitfalls to consider for 2019-2020. Download AAFCPAs’ 2019-2020 Tax Planning Guide for […]
AAFCPAs’ Dan Stanhope Attains Certified Construction Industry Financial Professional
AAFCPAs’ Partner Dan Stanhope, CPA, MSA has been awarded the Certified Construction Industry Financial Professional (CCIFP) credential issued by the Institute of Certified Construction Industry Financial Professionals (ICCIFP). Dan was awarded the CCIFP credential in recognition of his earned expertise in the complex specialty of construction accounting and financial management. The rigorous credentialing exam verified […]
AAFCPAs Presents Financial and Operational Insight at Boston Cannabis Week
AAFCPAs is proud to partner with Boston Cannabis Week (BCW), September 16th – 22nd, a forum designed to help business owners, entrepreneurs, investors and curators in the cannabis industry. AAFCPAs’ Consulting Controller Nicholas M. Foresti, MBA has been asked to speak and share his expertise on an entrepreneurial resources panel that takes place Wednesday, September […]
Manufacturing Matching Grant Program Application Due Oct 4, 2019
The Commonwealth of Massachusetts has again appropriated funding for New England Business Association’s Manufacturing Matching Grant Program. The program provides targeted grants to manufacturing companies for the expressed purpose of providing high-powered private consulting expertise to small and medium-sized Massachusetts-based manufacturers undergoing a business transition. New England Business Association is now accepting applications for the […]