Downsizing Can Cause Partial Plan Terminations


By Mara Bruce

The economic downturn that began in December 2007 forced many companies to downsize, cutting their workforces, closing plants and leaving many unemployed. ... read more >

IRS Issues Guidance on New Homebuyer Tax Credit for 2009 Returns


By Matt McKinnon

On January 15, 2010, the Internal Revenue Service issued Information Release 2010-6, providing filing guidance for eligible homebuyers claiming the first-time ... read more >

Construction Industry Outlook for 2010

After three straight years of decline in the U.S. construction market and a 40% drop in building activity, will 2010 provide more opportunities?... read more >

Pennsylvania's Governor Proposes Natural Gas Severance Tax

The possibility of a tax on natural gas produced in Pennsylvania has surfaced again. Proposed in Governor Ed Rendell’s speech in February 2008 as ... read more >

Recap: PCI-DSS Mandate's Effect on Nonprofit Organizations

On Tuesday, January 19, the Schneider Downs Nonprofit Industry Group hosted its quarterly Breakfast Brief Meeting. The 90-minute event was held at the ... read more >

Fixed Asset Impairment Consideration - Year 2

The recession officially began in December 2007, but some manufacturers didn’t start to feel the effects until late in 2008. Many manufacturers probably had fixed asset impairment discussions with their auditors at the end of 2008, but were able to conclude that sufficient evidence was not available to support an impairment. However, don’t be surprised if you have to consider a fixed asset impairment again at the end of 2009.... read more >

New York Tax - Penalty and Interest Program (PAID)

The State of New York has initiated a Penalty and Interest Discount Program (PAID) beginning January 15, 2010. The program allows participants to pay off ... read more >

Are You Prepared for a Data Breach?

“We need to be more security conscious” is a common theme at many organizations today. Odds are that your organization is spending large sums of money strengthening your network in order to prevent the occurrence of a data breach. You may even conduct regular internal and external network penetration testing in order to identify potential holes in your network security.... read more >

New Guidance for Extractive Activities in the Oil and Gas Industry

In January 2010, the Financial Accounting Standards Board (FASB) issued ASU No. 2010-03, Extractive Activities – Oil and Gas (Topic 932): Oil and ... read more >

Moving Ever Closer to IFRS Convergence


By Todd Lucas

At the recent American Institute of Certified Public Accountants (AICPA) Conference, Securities and Exchange Commission (SEC) Commissioner, Elisse B. Walter, ... read more >