As the days get longer, the snow melts and flowers start to bloom, it can only mean one thing – employee benefit plan audit season is almost upon us. The upcoming season of audits of employee benefit plans with Dec. 31, 2021, year ends will be significantly different than in years past, as Statement on […]
Displaying: accounting
Topic 606 and Construction Revenue: What CPAs Need to Know
In May 2014, FASB issued an Accounting Standards Update regarding Topic 606: Revenue from Contracts with Customers, along with various amendments, to be implemented in 2017 and 2019. In this post, we’ll talk about exact adoption dates of the new construction revenue recognition standards, the major updates, and how you can help your construction clients […]
Assessing the Impact of the Tax Cuts and Jobs Act on Financial Statements
So the Tax Cuts and Jobs Act (the “Act”) is here. While many are focusing on the impact of individual rate reduction and the impact on their itemized deductions, corporations need to assess the impact of the Tax Cuts and Jobs Act on financial statements–specifically on their deferred tax balances as part of the 2017 […]
How Tax Reform Could Impact Financial Statements
As Tax Reform legislation works its way through Congress, we’ve mostly heard about its potential impact on personal or corporate income tax bills (i.e. “how will the GOP tax plan affect me?”) However, those involved in the financial reporting process should also be considering how potential tax reform could impact financial statements. Per ASC Topic 740, […]
Surgent Launches Futurecast™ Webinar Series with All-Star Lineup of National Tax and Accounting Experts
Surgent's new Futurecast premium monthly webinars deliver practical and timely insights from leading national experts in tax, accounting, auditing, and business management. Read why these just might become your favorite meeting of the month!
5 Cool Accounting Gigs: Make a Living in an Industry You Love
Being able to make a living in an industry you love can make a big difference in how you feel about going to work every day. Here are five accounting industry gigs that are pretty darned cool.
All CPAs Wear Pocket Protectors…& Other Myths about Accountants
If you’re an accountant, you might recognize there are many myths commonly attributed to the industry. We're here to discuss!