Topic
Update Debt Disclosures in Compliance with GASB-88
AAFCPAs would like to remind clients and friends that, in April 2018 the Government Accounting Standards Board (GASB) issued Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements. This standard is applicable for entities following governmental accounting standards, including AAFCPAs’ Charter School clients in Massachusetts and New Jersey, as well […]
5 Tips for an Accurate Financial Statement in a Divorce
The decision to divorce is never an easy one, and perhaps one of the most painful life events there is. Separation of finances can be one of the more contentious aspects. AAFCPAs provides the following guidance regarding the development of your divorce financial statement, which is a crucial component of divorce processes where financial relief […]
Employee Benefit Plan Health Check
Listen to Podcasts: Performing a regular and independent assessment or “health check” of your retirement plan can ensure your organization’s plan remains properly designed for your employee population and delivering the best possible benefit with the least amount of risk & cost. Davide Villani, leader of AAFCPAs’ specialized Employee Benefit Plan Audit & Consulting Practice, outlines typical […]
Regulatory Update: Accounting Standards 2019
AAFCPAs’ Nonprofit Audit Leaders Matt Hutt, Katie Belanger, and Olga Yasinnik provide key considerations and best practice recommendations related to the implementation of new accounting standards, including: Presentation of Financial Statements of Not-for-Profit Entities (ASU 2016-14, Topic 958): Revenue from Contracts with Customers (ASU 2014-09, Topic 606), and Clarifying the Scope and the Accounting […]
How the Wayfair Decision Impacts Nonprofits
On June 21, 2018, in a 5 to 4 vote, the United States Supreme Court, in South Dakota v. Wayfair, ruled that states were no longer bound by the physical presence test and could require out of state sellers to collect and remit sales tax based on economic nexus as long as certain criteria were met. AAFCPAs would […]
AAFCPAs’ Mr. Anderson Earns Certified Ethical Hacker Credential
AAFCPAs’ “white hat” ethical security hacker and business continuity advisor, Mr. Anderson has been awarded the Certified Ethical Hacker (CEH) credential issued by the International Council of E-Commerce Consultants (EC-Council). Mr. Anderson was awarded the CEH credential in recognition of his earned expertise in understanding how to uncover weaknesses and vulnerabilities in target systems and use the same knowledge […]
AAFCPAs Welcomes Accounting Manager to Support Steady Growth of Outsourced Accounting Practice
Boston, MA (May 24, 2019) – AAFCPAs, a best-in-class CPA and consulting firm known for assurance, tax, accounting, wealth management, valuation, business process, and IT advisory solutions, today announced the addition of Accounting Manager James Perkins, MBA. James joins AAFCPAs’ growing Managed Accounting Solutions (MAS) Practice, which provides high-quality, cost-effective, cloud-based accounting and CFO solutions. He […]
Cannabis Businesses Required to File IRS Form 8300 After Cash Transactions
AAFCPAs would like to remind cannabis business clients of their potential Form 8300 Report of Cash Payments Over $10,000 Received in a Trade or Business reporting obligation. This filing is required for any business who receives more than $10,000 in cash from one buyer as a result of a single transaction or two or more related transactions. […]
AICPA Urges FASB to Delay Effective Date of Lease Standard
ASU 2016-02, Leases (Topic 842) took effect for public companies at the beginning of this year and is scheduled to be effective for private companies one year later, at the beginning of 2020. This standard is significant in its impact to virtually all entities that enter into leases of more than twelve months in duration. The study […]