By Michael Wherry, CPA The old adage “what doesn’t kill you makes you stronger” is relevant to our clients who have gone through their first student financial aid compliance audit under the September 2016 Audit Guide (Guide). The Guide certainly caused an increase in the amount of work and posed some...
By Kelly Brennan On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act. The Act is the largest overhaul of the Internal Revenue Code in over 30 years, affecting every taxpayer. It includes reductions in the tax rates for both individual and businesses, the elimination or reduction of...
By Jennifer Debor, CPA The Financial Accounting Standards Board (FASB) issued two accounting standard updates (ASU), ASU 2016-15 and ASU 2016-18, that impact the presentation of an organization’s statement of cash flows. Both ASU’s are effective in 2019 for non-public entities, or in FASB’s terminology ‘for fiscal years beginning after December...