There's No Substitute for Being There...or is there?

Reduce costs, save time, and improve communications through the use of videoconferencing. Whether you’re meeting with a client across town, your ... read more >

Understanding the Three Basic Elements of Manufacturing Costs

Cost accounting is a fundamental requirement for achieving success in manufacturing. To be competitive and profitable, a manufacturer must understand and control the three basic elements of manufacturing costs: direct materials, direct labor and factory overhead.... read more >

PA Rules on Taxability of Church Property

A recent decision by the Commonwealth Court of Pennsylvania stated that the administrative offices of a church were not exempt from Pennsylvania real property taxes.  Jennifer Koehler provides the details.... read more >

Recovery Act Estimated to Cost $787 Billion

Government

By Roy Lydic

The American Recovery and Reinvestment Act of 2009 (Recovery Act) is estimated to cost about $787 billion over the next several years.  Of the Recovery Act’s total cost, about $280 billion will be administered through states and municipalities. Roy Lydic explains. ... read more >

Interpreting FAS 157

Audit

By Charles Oshurak

The overall concepts of fair market value, as well as increased reporting and disclosure transparency, continue to be a focus within the accounting world.  This month has been no exception.  On April 2, the Financial Accounting Standards Board (FASB) finalized two Financial Staff Positions (FSP) FAS 157-4 and FSP:   FAS115-a, FAS 124-a and EITF 99-20-b. Chuck Oshurak explains. ... read more >

Update: Transfer Pricing Developments

Cost sharing arrangements (“CSA’s”) are agreements among related parties to share the costs of developing intangible property (trademarks, know-how, patents, or similar items) in proportion to their shares of reasonably anticipated benefits from the use of the intangible.  As with all related party transactions, the rules require “arm’s length pricing”- what unrelated parties would pay under the same circumstances.  Mary Richter provides insight.... read more >

Have You Benefited from the Stimulus Package?

Tax

By Ron Kramer

President Obama’s Stimulus Package (The American Recovery and Reinvestment Act of 2009, ARRA) has been law now for almost 60 days. Have any of the stimulus measures had an impact on you or your business?  ... read more >

IRS Cracking Down on Offshore Bank Accounts

Tax

By Ron Kramer

The IRS recently announced new steps to encourage U.S. taxpayers with previously undisclosed foreign bank accounts to voluntarily come forward. In return for paying back taxes for the past six years, plus interest and stiff penalties, the IRS will promise not to bring criminal charges or to assess the 75-percent fraud penalty.... read more >

President Obama Denies Auto Bailout for GM and Chrysler

On March 30, 2009, President Obama announced that GM’s request for an additional $16 billion had been denied. Instead, GM was to receive only enough funding for working capital needs for the next 60 days and would operate under new management with significant government participation. ... read more >

SFAS 157 and Benefit Plans: Fair Value Measurements

Audit

By Michael Renzelman

In September 2006, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standard (SFAS) 157, “Fair Value Measurements.”   SFAS 157 established a consistent framework for measuring fair value under generally accepted accounting principles (GAAP).  Have you considered what your responsibilities under SFAS 157 are as a plan sponsor of an employee benefit plan?  Mike Renzelman provides an update on this topic.... read more >