Compliance Newsflash – January 18, 2017

January 18, 2017

DLA is committed to keeping our clients and friends updated on relevant news and topics in the industry by distributing a weekly Compliance Newsflash. We hope this provides you with helpful and insightful information for you and your firm! Join … read more

DLA Welcomes Alan C. Winters to its Forensics, Valuation & Litigation Support Group

David Landau & Associates, LLC (DLA) continues to grow its Forensics, Valuation & Litigation Support practice with the addition of Alan C. Winters as a Partner. DLA has been providing forensic accounting and expert witness services for 16 years and … read more

Reporting UTPs

January 16, 2017

Navigating the tax code — and staying atop the latest tax law developments — can be challenging for business owners. In turn, financial reporting for uncertain tax positions (UTPs), such as pending IRS audits or lawsuits, is complicated and subjective. … read more

Are You Ready for Audit Season?

It’s almost audit season for calendar-year entities. A little preparation can go a long way toward facilitating the external audit process, minimizing audit adjustments and surprises, lowering your audit fees in the future and getting more value out of the … read more

When to Recognize Income Taxes on Intra-entity Transfers

January 12, 2017

On October 25, the FASB published an update to U.S. GAAP that requires businesses to recognize the immediate income tax consequences of intracompany asset transfers. The update doesn’t apply to transfers of inventory, an idea the FASB dropped after negative … read more

Signs of Inventory Fraud

Is your inventory being stolen by dishonest employees or customers? Inventory is a prime target for fraud schemes, second only to cash. And it doesn’t always involve the physical theft of items. Click the link below to read about some … read more

How Accounting Estimates are Audited

Measuring accounting estimates involves some level of uncertainty. As a result, accounting estimates — such as allowances for doubtful accounts, impairments of long-lived assets, and valuations of financial and non-financial assets — require extra attention from auditors. Click the link … read more

Mission Accomplished: FASB Finalizes the Cash Flow Project

January 10, 2017

On August 26, the Financial Accounting Standards Board (FASB) published an update to U.S. Generally Accepted Accounting Principles (GAAP) that aims to improve and clarify eight parts of existing guidance on cash flow statement presentation and classification. The update addresses … read more

Will the PCAOB Expand the Audit Report?

After several years of work, the Public Company Accounting Oversight Board (PCAOB) is close to wrapping up a project to expand the auditor’s report to make it more useful for investors. The PCAOB staff is currently drafting a final standard … read more

Tips for Efficient Year-end Physical Inventory Counts

January 9, 2017

Do you dread the year-end physical inventory count? Business owners and managers often view these procedures as time consuming and disruptive. But a well-executed inventory count is more than a matter of compliance. It can also provide valuable insight into … read more

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