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May
22

Should You Adopt Private Company Council Accounting Alternatives?

 

In an attempt to simplify accounting for smaller private companies, FASB created the Private Company Council (PCC) to determine accounting alternatives. Private companies may be able to save time and money by taking advantage of accounting alternatives related to goodwill, interest rate swaps, common control leasing arrangements, and intangible assets.

Watch CRI’s Bruce Nunnally explain whether it’s a good idea to adopt these alternatives—an answer that is very timely since the PCC has recently asked for an analysis of potentially granting private companies an unconditional option to make a first-time election of private company alternatives.

May
19

At the end of last year, the Office of Management and Budget (OMB) issued new guidance – commonly known as Uniform Grant Guidance (UGG) or the “Super Circular” – covering uniform administrative requirements, cost principles, and audit requirements for federal awards. This guidance shifts the focus from grant compliance to grant performance milestones, and federal….

May
14

Which SOC Report is Correct For Your Needs?

 

An existing or perspective client requests an SOC report to provide assurance over your service organization’s controls. How do you determine which type of SOC report is correct for your needs? Watch as David Mills discusses the differences in each type of SOC report and the importance of engaging auditors that specialize in providing examinations for service organizations.

Download CRInsights: Who’s on First? The What and Why of SOC Reports to learn more.

May
06

Are you juggling to manage employee benefit plan (EBP)  for you company? With many different deadlines and reporting requirements it’s easy to feel overwhelmed. Upcoming employee benefit plan (EBP) deadlines for June and July are listed below:

Apr
30

Analyze This: Why Government Financial Reports Matter

 

Government financial reports are utilized to demonstrate the stewardship of public resources. A wide variety of users including officials, the public, and bond ratings companies may utilize these reports for different purposes. Watch as Hilton Galloway and Keith Hundley discuss the common ratios and analytical data that comparative annual financial reports can generate.

Apr
28

Fraud almost always leads to “red flags,” or indicators that a fraud is occurring. Sometimes those red flags go unnoticed, but they don’t have to be. Individuals with fiduciary responsibilities can learn to recognize some of the common red flags that may indicate fraud. First, account reconciliations can reveal red flags in the form of….