Posted by Katie Faysal on October 11, 2019
While many professional service companies have completed their analyses and made updates to track data in accordance with the new standard, some are still in the process and playing catch-up. For those that still need to implement the standard, consider these key areas that are likely to impact professional service companies.
You’re in the wholesale or distribution space and have a huge asset, called inventory, which needs to be converted to cash, but you aren’t great at tracking or counting it and you are not really sure which items are sitting. So what do you do?
Posted by Julie Killian on June 11, 2019
Do you provide monthly or quarterly financial statements to your bank or other stakeholders? Are those financial statements required to be prepared using US GAAP standards?
Posted by Clayton & McKervey on July 26, 2018
Clayton & McKervey announces that David Van Damme, Catherine (Katie) Faysal, and Ben Smith, all certified public accountants in the Assurance Department, have been promoted from Manager to Senior Manager.
Posted by Katie Faysal on February 28, 2018
While the business and individual provisions of the Tax Cuts and Jobs Act (TCJA) are currently the focus of attention for many, those responsible for …
Posted by Sue Tuson on February 2, 2018
When a taxpayer is notified by the IRS for a tax return audit, the first reaction may be panic or fear. Understanding the audit process …
Posted by Julie Killian on November 20, 2017
Over the past several months Clayton & McKervey has provided information about the new revenue recognition standard released by the Financial Accounting Standards Board (FASB); …
Posted by Julie Killian on July 11, 2017
Over the past several months we have provided information about the new revenue recognition standard released by the Financial Accounting Standards Board (FASB); (Revenue …
Many companies sponsor employee benefit plans for their employees. Management may not be aware that certain plans require an audit to be completed by …
Posted by Julie Killian on March 27, 2017
The accounting industry identified the need to form a single, unified, global revenue recognition strategy 15 years ago; announcing the final standard in May 2014.