DIXON HUGHES GOODMAN NAMES MATT SNOW AS CEO
Dixon Hughes Goodman announced that the partners of the firm have elected Matt Snow as Chief Executive Officer effective June 1. Snow previously held the position of regional managing partner for the Firm's Charlotte Region. Current CEO, Ken Hughes, will remain with the firm as Chairman of the firm's Executive Committee. Read More.
2014 First Quarter A&A Update
This First Quarter A&A Update includes the latest pronouncements from the FASB, PCC, AICPA, SEC and PCAOB that are currently affecting public and private entities. Read More.
The FASB Issues Private Company VIE Accounting Alternative
On March 20, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-07, Consolidation (Topic 810): Applying Variable Interest Entities Guidance to Common Control Leasing Arrangements, providing private companies with an accounting alternative for lessor entities under common control. The ASU is the third consensus of the Private Company Council (PCC) endorsed by the FASB and represents another significant step forward in reducing cost and complexity to private companies within U.S. GAAP, while still providing users with decision-useful information. Read More.
The FASB Issues Two Private Company Accounting Alternatives
On January 16, 2014, the Financial Accounting Standards Board (FASB) issued two Accounting Standards Updates (ASU), providing private companies with accounting alternatives for goodwill and simplified hedge accounting for certain qualifying interest rate swaps. They are the first standards proposed by the Private Company Council (PCC) which have been issued as U.S. GAAP by the FASB and, as such, represent a significant step forward in providing relief to private companies within U.S. GAAP, while still providing users with decision-useful information. Read More.
Final Repair Regulations
The IRS has released much-anticipated final “repair” regulations (T.D.9636) governing when taxpayers must capitalize and when they can deduct their expenses for acquiring, maintaining, repairing and replacing tangible property. The final regulations make significant taxpayer-friendly changes to the 2011 temporary regulations. Read More.
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