The COVID-19 Pandemic & Y2K: Search for Silver Linings
The first few weeks of the COVID-19 pandemic in the United States brought back memories of the 9-11 attacks for many: Sports and flights cancelled. Society in a state of shock. Calls to band together and be resilient. For me as an IT professional, it also brought back memories of
One Year Deferral for Revenue Recognition Implementation Standard Approved
In a surprise move, on May 20, 2020, the Financial Accounting Standards Board (FASB) approved a one-year deferral to the effective date of the revenue standard (FASB ASC Topic 606, Revenue from Contracts with Customers) for all nonpublic and not-for-profit entities that have not issued their financial statements.
Paycheck Protection Program Flexibility Act Provides Relief from Some Restrictions
Paycheck Protection Program Flexibility Act of 2020: Correction to Some of the Restrictions to PPP Relief The House is reported to vote next week on the bipartisan “Paycheck Protection Program Flexibility Act of 2020” to correct some of the flaws in the original Paycheck Protection Program (PPP). Many small businesses
Making the CARES Act Work for Your Business
Specific Tax Provisions to Leverage for Optimized Results The March 27th, 2020 signing of the Coronavirus Aid, Relief, and Economic Support (CARES) Act created immediate economic support in the form of loans, subsidies, and much-needed tax relief, including several important tax provisions. The CARES Act increases interest expense
Cybersecurity During Pandemic Work-from-Home Conditions
Virus Protection Has a Whole New Meaning For compliance professionals, listen to our accompanying audio interview discussing HIPAA, SOC and PCI compliance during a pandemic, featuring Robert Ramsay and Brett Bane of Pondurance. Remember when “virus protection” only referred to malware? When we talked about “wiping phones” prior
What You Need to Know About PPP Loan Forgiveness
The Small Business Administration (SBA) has released the application to obtain forgiveness of PPP loans, and in doing so has provided answers to many of the questions that our team and so many loan recipients have had, as we try to forecast the forgiveness and make business decisions. The full