Background and nonauthoritative guidance on lease accounting for continuing care retirement community Type A life care contracts is provided in Technical Questions and Answers (TQAs) published Monday by the AICPA. Developed by the AICPA Health Care Expert Panel, TQAs 6400.55–.62 discuss how to: Determine whether an embedded lease exists under FASB ASC Topic 842, Leases; […]

Black Lives Matter and #MeToo, two social movements founded by Black women, have increased pressure on businesses to raise the number of women, particularly Black women and other women of color, in executive positions. For good reason. Women in senior management remain underrepresented in corporate America even though their numbers increased from 17% in 2015 […]

Today, the AICPA and CPA.com are launching .cpa, a restricted Internet domain exclusively for the CPA profession. Only licensed CPA firms and – starting next year – individual CPAs will be able to sign up for the new top-level domain, a term that refers to the last letters of an email address or website name […]

One of the common misconceptions about blockchain is that it’s one technology. You may have heard or seen references to companies tracking supplies on the blockchain or smart contracts being executed on the blockchain. Fact is, there are many blockchains. The original blockchain was created to facilitate and record transactions of the digital currency bitcoin. […]

Like professionals in nearly every business on the planet, auditors have suffered a tremendous disruption to their normal operations because of the coronavirus pandemic. But the magnitude of the pandemic’s fallout will only start to become clear as engagement teams plan strategies for upcoming 2020 client reviews and audits and carry out fundamental procedures like […]

Public companies need to carefully consider their obligations in disclosing the coronavirus pandemic’s effect on their operations, liquidity, and capital resources, according to staff guidance issued Tuesday by the SEC Division of Corporation Finance. The division is monitoring how companies are disclosing the effects and risks related to the pandemic on their businesses, financial condition, […]

The AICPA Peer Review Board (PRB) has granted CPA firms with original due dates between Jan. 1 and Sept. 30 a six-month peer review deadline delay option to provide them with relief during the coronavirus pandemic. If your firm was the beneficiary of this extension, you should have received an email from the peer review […]

The U.S. Small Business Administration (SBA) and Treasury have agreed to publish the names and amount ranges for all recipients of Paycheck Protection Program (PPP) loans of $150,000 or more. In a news release issued Friday night, Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza said they had reached an agreement with the bipartisan […]

With time running out for eligible entities to apply for Paycheck Protection Program (PPP) loans, the U.S. Small Business Administration announced Friday that it has revived its Lender Match online tool to help underserved and disadvantaged small businesses connect with PPP lenders. In a news release, the SBA described Lender Match as an additional resource […]

As the federal government distributes $659 billion in forgivable loans to small businesses as part of the Paycheck Protection Program (PPP), it’s important that forensic accountants know the risks involved with the new program, how to spot criminals who are trying to take money illegally, and how to mitigate potential fraud, according to a recent […]