Blogs

How the Role of CFO is Changing

Illumeo Customer Success's Profile

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 strate

Update Guidance for Accounting for Cloud Computing Arrangements

Illumeo Customer Success's Profile

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

ASC 606 and Gift Card Accounting

Illumeo Customer Success's Profile

As we enter the holiday shopping season, could there be a more holiday-related accounting topic than accounting for gift cards? The gift card market has steadily increased annually as the vendor choices for cards and the methods of sending the cards have increased.

Review Tips for the End of 2019

Illumeo Customer Success's Profile

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.

Wage and Hour Laws—They are Here, There and Everywhere Part 4

Vicki Lambert's Profile

I discussed the complexities of compliance with wage and hour laws in a previous post.  Which apply…federal or state? What areas are covered?

Wage and Hour Laws—They are Here, There and Everywhere Part 3

Vicki Lambert's Profile

I discussed the complexities of compliance with wage and hour laws in a previous post.  Which apply…federal or state? What areas are covered?

What You Need to Know About HRAs for 2020

Illumeo Customer Success's Profile

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 expansi

Cracking the Bookkeeping Code

Lynn Fountain's Profile

Most professions have their unique terminology that professionals use when engaging in work processes.  For accounting and bookkeeping, terminology like debts and credits, T-accounts, accruals, amortization, depreciation, GAAP, GAAS, GASB  etc. can seem like a barrier to really understanding how to record and process certain transactions.

Wage and Hour Laws—They are Here, There and Everywhere Part 2

Vicki Lambert's Profile

I discussed the complexities of compliance with wage and hour laws in a previous post.  Which apply…federal or state? What areas are covered?

Who Needs Corporate Tax Training?

Illumeo Customer Success's Profile

It’s unlikely that you will ever come across anyone who enjoys paying taxes, much less preparing them!  For those required to file corporate tax returns, the task can be even more challenging and unnerving that preparing their individual returns.  The current tax environment is a complex one that