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Professional Service Firms - Are You Ready for the Implementation of the New Lease Standard? What Are the Five Key Questions to Ask?

Professional service firms will be required to adopt Accounting Standards Update (ASU) 2016-02 Topic 842 - Leases (ASU 2016-02) in the upcoming years. ... read more >

Revenue Recognition Considerations for Engineering Firms

In August 2017, the FASB issued guidance for engineering firms in connection with the implementation of ASU 2014-09 and the five-step model. Step One requires ... read more >

Revenue Recognition Considerations for Software Companies

In August 2017, the FASB issued guidance for software companies in connection with the implementation of ASU 2014-09 and the five-step model. Step One ... read more >

Accounting for Phantom Stock Plans

One appealing option for the owners of professional service firms that do not want to relinquish equity is a phantom stock plan. Phantom stock plans are ... read more >

Recognizing Revenue - Revenue May Be Recognized More Quickly Under ASU 2014-09 Relating to the Sale of Software Licenses

ASU 2014-09, Revenue from Contracts with Customers, will have a significant effect across all industries; however, the software industry is likely to see ... read more >

Revenue Recognition: Software Industry

In connection with the Financial Accounting Standards Board Accounting Standards Update 2014-09, Revenue from Contracts with Customers, 13 issues were ... read more >

Five Tips for Your Effective and Efficient Audit

Audit

By Patti Giudici

Most companies have an annual audit performed to comply with banking and investment requirements. For most calendar year-end companies, the annual audits ... read more >