Leases Accounting Project
May 02, 2014
Following their recent meetings in March, the FASB and IASB remain at odds on the key issue of how lessees should account for all leases once they are recognized on a balance sheet.
When Moore Means Lease
April 02, 2014
Moore's Law revealed the fundamental question we all ask when faced with a new technology: should I <i>purchase</i> that device? The fact is, we don't know. The period of exponential improvement which we are all now familiar with has shown time and again that there will be some breakthrough in technology over the next several months that delivers a product to me that is better, cheaper and faster.
Revenue Recognition
April 02, 2014
When is a sale a sale? This question is much more than semantics or a deep philosophical debate that college accounting majors have over a nice cold keg of Mountain Dew. Many an executive or business owner has gone to jail over this issue.
12 Tips to Enhance Your Firm's Partner Compensation System
April 02, 2014
There are numerous characteristics that account for compensation systems that are perceived by partners as being fair and equitable. These include the system itself and how the system is administered. Below is a list of compensation criteria that are considered by most firms when setting partner compensation.
Tax Court Imposes New Limitation on IRA Rollovers
April 02, 2014
In <i>Bobrow v. Commissioner</i>, U.S. Tax Court Judge Joseph Nega surprisingly ruled that Internal Revenue Code (IRC) Section 408(d)(3)(B), which allows one tax-free 60-day rollover per year, applies to all of a taxpayer's IRAs, rather than to each IRA separately.
Corporations' 'Seismic Shift' to Private Exchanges
April 02, 2014
The first quarter of 2014 is over. The major provisions of the Affordable Care Act are now in full swing, save the occasional delay of certain mandates. Companies, both large and small, understand that this law is now a fixture of our legislative structure. It will be amended, tugged at, pulled at, changed, expanded, and contracted. The private marketplace plays a crucial role in the development of the law, as well as the resulting impact on employers.
Preparing for the Affordable Care Act Employer Mandate
March 27, 2014
As of Jan. 1, 2015, the Patient Protection and Affordable Care Act begins to impose certain health coverage requirements on employers who have at least 50 employees. Even though its implications are almost a year away, it is not too soon for employers to prepare for the Employer Mandate. Employers would be wise to figure out if the mandate applies to them, understand the potential penalties that can be imposed on them and, taking into account all of the various considerations, decide if they want to pay or play.
