An Accounting Update on Fair Value

By: Douglas Beelendorf On January 16, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-02, Intangibles—Goodwill and Other (Topic 350): Accounting for Goodwill. ASU 2014-02 introduces an accounting alternative for private companies that simplifies and hopefully reduces the costs associated with the subsequent accounting for goodwill. Private companies that elect […]

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Fun Facts About ASU 2014-05

By: Jonathan Kraftchick The Bottom Line On January 24, FASB released ASU 2014-05 in response to an increase in public sector entities (i.e. governmental bodies) entering into service concession agreements with operating entities that follow US GAAP. The overall conclusion of this ASU is that these types of arrangements should not be considered leases within […]

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Defining ASU 2014-08

By: Kris Guimond On April 10, 2014, FASB issued ASU 2014-08 to improve guidance from US Generally Accepted Accounting Principles (GAAP) with the goal of providing a more faithful representation of when a company or other organization discontinues its operations. This update alters the criteria in regards to reporting discontinued operations in subtopic 205-20, Presentation […]

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SSARS Preparation of Financial Statements Exposure Draft

By: Drew Edmundson When does a little bookkeeping cross the line and become a compilation? Have you ever posted a journal entry or made a change directly in a client’s accounting software? With the advent of cloud software and remote access, it is easier than ever to make the adjustment yourself. Is a compilation report […]

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Indeed, There Is Life After Public Practice

By: Dennis Walsh After 17 years as a visually impaired practitioner, my firm migrated from a text-based operating system to Windows® in the 1990’s. The lack of attention to assistive screen-reader accessibility by software developers during this quickly evolving era, resulted in my temporary inability to perform most of my work independently. While this unfortunate […]

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Avoiding Infection—Prevention & Recovery

By: Randy Johnston, Shareholder, K2 Enterprises Blog Series: Avoiding Infection—Prevention & Recovery (Post 4 of 4) 1)      Explain your procedures for recovery: Hopefully, you never have to recover, but if you do: a)      Outline your reporting and shutdown procedure b)      Have everyone stay off of their systems until given the all clear c)       Unplug infected […]

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Avoiding Infection—Email & Media Risks

By: Randy Johnston, Shareholder, K2 Enterprises Blog Series: Avoiding Infection—Email & Media Risks (Post 3 of 4) 1)      Protect Outlook® properly: Outlook has improved its virus protection and spam filtering with each version, but there are still fundamental features to consider and use: a)      Turn off the reading pane for the Inbox. This is not […]

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Avoiding Infection—Understanding Your Protective Software

By: Randy Johnston, Shareholder, K2 Enterprises Blog Series: Avoiding Infection—Understanding the Your Protective Software (Post 2 of 4) Security threats change regularly. Team members don’t recall what to do. To remind everyone of the appropriate strategies, schedule annual security training for your organization. The importance of compliance with your firm’s policies, steps to prevent infection, […]

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Avoiding Infection—Understanding the Threat

By: Randy Johnston, Shareholder, K2 Enterprises Blog Series: Avoiding Infection—Understanding the Threat(Post 1 of 4) Our K2 team of professionals takes great pride in teaching about the latest technology. We also try to be practical and realistic in our recommendations. Our team has some really spectacular people, including CPAs, and proficient technologists. During the past […]

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Preparing for Interviews—Six Steps to Success

By: Emily Wilkes For many students, interviews can be the most intimidating part of the recruiting process. In school we learn about what we should and shouldn’t wear and inappropriate interview topics, but nothing can completely prepare us for an interview because every interview is different. I have been to several different interviews, with different […]

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