Year End Accounting Update Summary – What’s On the Horizon?

New revenue recognition standards, among others, will have an impact on non-profit. The nonprofits that prepare for the future, will see themselves spending less time and incurring less frustration in implementing the new accounting standards on the horizon. — Cheryl Guiddy, Harris CPAs All entities, including nonprofit organizations, are facing the daunting task of addressing a slew of changes as …

The Tax Incentives Keeping the LED Lights On

Many real estate and construction industries unknowingly qualify for tax incentives surrounding the energy efficiency initiatives in new construction. Take a closer look at the cost saving opportunities. The following article has more information. — Josh Tyree, Harris CPAs Q&A with: David Diaz, Managing Partner at Walker Reid Strategies As energy efficiency initiatives become common procedure for new construction, many …

Expanded Missing Participants Program

What Plan Sponsors Need to Know About Terminating Plans The Pension Benefit Guaranty Corporation (PBGC) is helping defined contribution (DC) and other plan sponsors looking to terminate their plans by expanding its Missing Participants Program. For more than 20 years, the program has been available to PBGC-insured single employer defined benefit (DB) plans only. Now, the final rule, published in …

Contractors, Don’t Wait to Act on Revenue Recognition!

The new revenue recognition standard is quickly approaching, so contractors are urged to act now. Revenue recognition standards will shift from a transfer of risks and rewards model to one based on transfer of control. Certain factors play a part in determining revenue recognition and what criteria is needed to qualify. Note several key actions to ensure that you are …