Assurance Archive

ASC 842 Implementation For Private Companies: Lessons Learned From Public Companies

Most public companies have already been required to implement ASC 842, offering their private company counterparts lessons on challenges encountered and solutions deployed. Now is a good time to take stock of where your company is on the ASC 842 implementation timeline.

M&A and Employee Benefits: Pre-Transaction Considerations

Corporate mergers or acquisitions are complex, labor-intensive processes with high-stakes outcomes. In many cases, employee benefits get overlooked while the management teams of the buyer and seller prepare for the transaction. In this article, we examine some of the benefits-related issues that buyers and sellers should consider before a transaction closes.

FASB Issues Targeted Improvements to Financial Instruments Standards

The FASB recently issued ASU 2019-04 to clarify and improve guidance within the issued standards on credit losses, hedging and recognition and measurement of financial instruments.

IRS No Longer Prohibits Retiree Lump Sum Windows in Defined Benefit Pension Plans

Defined benefit plan sponsors can once again offer retirees and beneficiaries receiving annuity payments a limited opportunity to convert their benefits into a lump sum.

Meet the New Accounting Standard for Measuring the Value of Equity Investments

Up until now, financial statement preparers have had some leeway regarding the value of their company’s return on investments in equity securities. Typically, these securities were designated as “available for sale” with the corresponding gains or losses on the fair value of those securities recorded through other comprehensive income. Now that has all changed.

Employee Benefit Trends to Watch in 2019

As plan sponsors outline their strategies for the year, we have identified several trends that are shaping the employee benefits landscape and creating opportunities for employers to implement best practices to meet the needs of their workforces.

Remittance Schedules: How to Know and Meet Your Deadlines

Part of offering a defined contribution plan is making sure that the money participants contribute from their paycheck is deposited in their retirement account in a timely manner. While this might seem like a relatively minor and simple task, the Department of Labor views non-compliance with remittance rules as a major issue, and missing deadlines for deposits can carry significant penalties.

2018 SEC Year in Review

In order to keep you current on Securities and Exchange Commission reporting developments, we are pleased to provide you with this newsletter – provided through our participation in BDO Alliance USA – that summarizes significant 2018 developments at the SEC.

2018 Accounting Year in Review

Our 2018 year in review report – provided through our participation in BDO Alliance USA – summarizes the year’s most significant changes in guidance and what to expect in 2019. It also includes a comprehensive list of the effective dates for recently-issued accounting standards.

PCAOB Inspections Outlook for 2019

As part of the overall strategic plan and reevaluation of how inspections of public company audits are planned, conducted, and reported on, the PCAOB has released its objectives and potential focus areas for planned 2019 inspections of issuers and brokers and dealers. We encourage audit committees, management and auditors to review this alert.