The SEC, on Thursday, voted to approve amendments to Regulation S-K which are intended to improve readability and usability of the Management’s Discussion & Analysis (MD&A) section of SEC filings, as well as eliminate redundancy, and omit information not considered material to stakeholders, while adding a handful of new discussion
The Current Expected Credit Loss standard (Accounting Standards Update No. 2016-13) or intimately known as CECL, has been a hot topic in the banking industry since the Financial Accounting Standards Board’s first CECL exposure draft in 2012.
2020 undoubtedly is the wackiest year of our lifetimes for many of us, and as it draws to a close, it also brings an end to one of the most contentious and unusual election cycles most of us can remember. The presidential candidates have very different federal tax policies, and
The U.S. Department of Health and Human Services (HHS) released Frequently Asked Questions (FAQs) on June 19, 2020 which described the types of expenses that would be permissible uses of Fund distributions. This FAQ also stated that Provider Relief Fund (PRF) could be used in place of lost revenue. HHS
Public accountants are busy this time of year, finalizing financial reports and trying to outrun a formidable October 15 tax filing deadline. But the SBA has been busy too, creating a new application form and issuing some guidance yesterday that we discuss briefly below. Simplified PPP Forgiveness Application for $50,000
On October 2, the SBA issued a Procedural Notice that provides guidance for parties to an acquisition or sale of a business who also borrowed PPP funds. The notice also prescribes additional duties for lenders of related PPP loans.
As I was watching the first of the Presidential debates last week and gleaning little-to-no information about the candidates’ positions on key issues, three words kept entering my mind: Make. It. Stop.