Archive for June, 2020
By Edelstein on June 29, 2020
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently published new guidance on how companies can promote “risk appetite” as part of decision-making. It’s especially relevant in today’s uncertain marketplace. Digesting the new
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Posted In: Alerts & Advisories
By Edelstein on June 26, 2020
As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain “coronavirus-related distributions” from their retirement plans without paying tax. So how do you qualify? In
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Posted In: Alerts & Advisories
By Edelstein on June 25, 2020
On Tuesday, June 30, 2020, Sapers & Wallack will be hosting a third Town Hall webinar in which panelists will share their latest insights around the SBA Paycheck Protection Program (“PPP”) and office re-opening best
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Posted In: Alerts & Advisories, News, Resources
By Edelstein on June 22, 2020
Some companies are expected to report impairment losses in fiscal year 2020 because of the COVID-19 crisis. Depending on the nature of your operations and assets, the pandemic could be considered a “triggering event” that
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Posted In: Alerts & Advisories
By Edelstein on June 16, 2020
If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should carefully record your expenses in order
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Posted In: Alerts & Advisories
By Edelstein on June 15, 2020
Outsourcing may appeal to organizations that are currently struggling with mounting overhead costs during the COVID-19 crisis. By outsourcing, you convert certain fixed overhead costs associated with compensating and supporting employees into variable costs that
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Posted In: Alerts & Advisories
By Edelstein on June 12, 2020
On Tuesday, June 16, 2020, Partner Jason Pierce will be presenting Business Accounting and Risk Mitigation during COVID-19 for the Business Lawyers Network. During this discussion, Pierce will address the impacts COVID-19 has had on
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Posted In: Events, Resources
By Edelstein on June 8, 2020
Many companies struggle to close the books at the end of the month. The month-end close requires accounting personnel to round up data from across the organization. Under normal conditions, this process can strain internal
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Posted In: Alerts & Advisories
By Edelstein on June 5, 2020
The U.S. Senate has passed the bipartisan Paycheck Protection Program Flexibility Act of 2020, which loosens several of the Paycheck Protection Program’s (PPP’s) more onerous restrictions regarding loan forgiveness. President Trump has signed the bill
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Posted In: Alerts & Advisories, News, Resources
By Edelstein on June 1, 2020
Private companies and most nonprofits were supposed to implement updated revenue recognition guidance in fiscal year 2019 and updated lease guidance in fiscal year 2021. In the midst of the novel coronavirus (COVID-19) crisis, the
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Posted In: Alerts & Advisories