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Financial Reporting

Articles

Single audit complexities
Keep these in mind while planning and performing single audits.

Preparation is key: Substantial procedure change can burden those looking to claim R&D tax credit [MNCPA]
The IRS’s new requirements for taxpayers seeking Research and Development Tax Credit refunds have left tax professionals with some unanswered questions.

The status of SAS 134, 135, 136 and beyond [MNCPA]
SAS 134–140 will take effect for audits of financial statements for periods ending on or after Dec. 15, 2021. Here’s what you need to know.

Year-end tax planning in flux [MNCPA]
Last-minute tax legislation is making planning especially difficult this year. Here’s a look at seven tried-and-true tax planning approaches and how they may change.

ASC 842, GASB 87 implementation are here [MNCPA]
With the many new processes, controls and accounts needed to ensure proper oversight of lease accounting, entities should wait no longer to begin the adoption process.

Nuts and bolts of cryptocurrency taxation [MNCPA]
The inclusion of the virtual currency question on the front and center of Form 1040 have made cryptocurrency a subject that tax practitioners cannot afford to ignore anymore.

The status of SAS 134, 135, 136 and beyond
SAS 134–140 will take effect for audits of financial statements for periods ending on or after Dec. 15, 2021. Here’s what you need to know.

Malpractice risks increase during difficult economic times
In light of the current economic challenges, CPAs will need to be prepared and vigilant to minimize the potential for additional liability exposures.

Recognizing the signs of elder abuse
It is important to know the warning signs of elder financial abuse and what you can do to act on behalf of your clients when necessary.

Minnesota resident trust law update [MNCPA]
The Fielding result may influence a broader and more fact- and circumstances-based test in determining whether a trust is subject to Minnesota tax.

What is ESG? [MNCPA]
One acronym has quickly risen to the top of many C-suite and board agendas in the past year: ESG, or environmental, social and governance.

How to make financial forecasting essential [MNCPA]
This article is not for you if you love forecasting. If, on the other hand, being asked to create a financial forecast fills you with discomfort to existential dread, keep on reading!

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