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Returning Value Blog

Measuring "Fair Value" for Financial Reporting Purposes

Posted by Michael D. Machen, CPA, CVA on Jun 11, 2019

The standard for valuing certain assets and liabilities under U.S. Generally Accepted Accounting Principles (GAAP) is “fair value.” This differs from other valuation standards that may apply when valuing a security or business interest in a litigation or mergers and acquisitions (M&A) setting.

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Posted in Business Advisory

AUP Engagements: A Middle Ground Between Audits and Consulting Services

Posted by Melissa Motley, CPA on Jun 10, 2019

Your CPA offers a wide menu of services. An audit is a familiar type of attestation service that provides a formal opinion about whether the company’s financial statements conform to U.S. Generally Accepted Accounting Principles (GAAP).

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Posted in Audit & Assurance

IRS Raises Valuation Limit for Employer-Provided Vehicles

Posted by Lesley L. Price, CPA on May 17, 2019

One of the most popular fringe benefits for employees at many organizations isn’t an insurance plan or a health club membership; it’s shiny chrome and steel — a vehicle. Providing a car, van or truck that an employee can use for both work and personal purposes can attract better job candidates or just make sense practically. If your organization offers such a fringe benefit, you should know that the IRS recently updated its valuation limit for employer-provided vehicles.

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Posted in Business Tax

Shore up Your Defenses Against Employment Discrimination Claims

Posted by Amber Malik on May 16, 2019

Many employers believe they’ve taken adequate steps to prevent employment discrimination. And yet, it happens. The Equal Employment Opportunity Commission (EEOC) received 76,418 charges of workplace discrimination in fiscal year 2018 and, as a result, obtained $505 million for victims employed in the private sector, as well as by local, state and federal government agencies.

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Posted in Payroll, HR & Benefits

What Are the Tax Breaks with Green Energy?

Posted by Nick Wheeler, CPA on May 15, 2019

 How to get (tax) credit for your home's green energy upgrades.

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Posted in Tax News

Personal Property Tax Compliance: Eight Frequently Missed Issues That Can Lead to Overpayments

Posted by Lisa Albritton on May 14, 2019

Understanding and adhering to the multitude of personal property tax compliance obligations throughout the thousands of jurisdictions that assess personal property taxes can be administratively burdensome. A company’s personal property tax liabilities can be impacted if a company is not equipped to navigate the differing rules and opportunities in the jurisdictions in which its personal property is located. The following summarizes the most often overlooked items that result in overpayments of personal property taxes by any organization.

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Posted in Business Tax

Consider a Roth 401(k) Plan - and Make Sure Employees Use It

Posted by Marty Williams, CPA on May 13, 2019

Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the Plan Sponsor Council of America (PSCA) found that Roth 401(k)s are now available at 70% of employer plans, up from 55.6% of plans in 2016.

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Posted in Business Advisory

Comparing Internal and External Audits

Posted by Aaron K. Waller, CPA on May 10, 2019

Businesses use two types of audits to gauge financial results: internal and external. Here’s a closer look at how they measure up.

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Posted in Audit & Assurance

Close-up on Professional Standards for CPAs

Posted by Jessica L. Pagan, CPA on May 09, 2019

The accounting profession is largely self-regulated by the American Institute of Certified Public Accountants (AICPA). Part of its mission involves the development and enforcement of a broad range of standards for the profession.

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Posted in Professional Standard News

Lean Manufacturers: Reap the Benefits of Lean Accounting

Posted by Melissa Motley, CPA on May 07, 2019

Standard cost accounting doesn’t necessarily work for lean operations. Instead, lean accounting offers a simplified reporting alternative that generates more timely, relevant financial data. But it’s not right for every situation.

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Posted in Audit & Assurance

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