For many employers, there are changes coming to the currently-offered Health Reimbursement Accounts (HRA) available to employees.  For health plans beginning on or after January 1, 2020, there are three types of HRA plans available, depending on the size of the employer.  The primary goal of the expansion of HRA opportunities is to provide flexibility […]

I discussed the complexities of compliance with wage and hour laws in a previous post.  Which apply…federal or state? What areas are covered? When these questions do arise, where do you find the answers? Can a payroll professional simply check the Fair Labor Standards Act (FLSA) to find the answer with a quick verification of any […]

I discussed the complexities of compliance with wage and hour laws in a previous post.  Which apply…federal or state? What areas are covered? When these questions do arise, where do you find the answers? Can a payroll professional simply check the Fair Labor Standards Act (FLSA) to find the answer with a quick verification of any […]

As we reach the end of 2019, companies may want to check out some of the following steps to maximize their tax strategies in regards to deduction and revenue organizing for the year.  These steps differ upon the company’s intention – reducing taxable income or accelerating income. A company may want to reduce taxable income […]

Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract.  This subtopic provides guidance on which Cloud Computing Arrangement (CCA) implementation costs should be capitalized as an asset or expensed.  ASU 2018-15 is applicable to public business entities starting in 2020 and all other entities in 2021.   CCAs, in […]

In August 2018 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2018-15 (ASU 2018-15).  Included in this update is subtopic 350-40 Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract.  This subtopic provides guidance on which Cloud Computing Arrangement (CCA) implementation costs should be capitalized as an asset […]

The Chief Financial Officer (CFO) role has always been one of great importance but the role has actually increased in importance in the past decade, due in large part to the role of digital technology in most companies.  No longer is the CFO role a strictly functional one; the position is considered a strategic one […]

Are you aware that the laws regarding training to prevent sexual harassment, discrimination, bullying and abuse have changed radically – especially in California? Do you know that you might have to train your staff – even though you only have a few employees and some part-timers? As of January of this year (2020) you must […]

The implementation of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 842 is one of the most significant changes in accounting in recent history.  This codification replaces Generally Accepted Accounting Principles (GAAP) ASC 840. This standard went into effect January 1, 2019, for public companies, certain not-for-profit companies, and employee benefit plans.  Both lessees […]

With the current economic climate, it is imperative for companies to have a strong audit committee to provide oversight of the financial reporting and audit processes and to monitor a company’s internal controls and compliance with laws and regulations.  An audit committee is required for all listed publicly traded companies in the United States and […]