For many companies there is a strong chance that one of the effects of the COVID-19 virus will be considering it as a triggering event requiring the performance of goodwill impairment testing.
The Financial Accounting Standards Board’s (FASB) newest lease accounting standard, Accounting Standards Codification (ASC) 842, is facing implementation delays and challenges due to the COVID-19 crisis.
The theory behind the fraud triangle is one of the most basic concepts an accounting student learns in his or her introductory auditing college coursework.
As questions pour into the Department of Labor and the Internal Revenue Service from employers on the Families First Act and the CARES Act, both agencies are updating their respective FAQs. Here are the latest updates:
There are many challenges for auditors in the wake of the COVID-19 virus. Auditors are finding new creative ways to ensure they are still meeting audit standards requirements while conducting test work during this quarantine phase. This level of remote auditing is new for the public accounting profess
In their latest issue, IR-2020-89, the Internal Revenue Service is reminding businesses of the three new credits that are available to many businesses hit by COVID-19. To recap, these are:
