Thought Leadership

Spreadsheet and Magnifying Glass

How Experts Use Data Analysis to Detect Fraud

Data analytics is changing the way many businesses operate. It’s also changing how forensic accountants do their jobs, providing fraud experts with the means to mine massive mounds of data like never before.

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Health Care Fraud Still Stings Americans

Even if you haven’t heard much about it lately, know this: Health care fraud is alive and well in the United States. Here’s a roundup of recent stats, law enforcement initiatives, common fraud schemes and how you can help prevent these crimes.

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Door Handle

The Tax Implications of a Company Car

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars. (And of course, they get the nontax benefits of driving the cars!) Even…

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The New Lease Accounting Rules Are Here, Are You Ready?

Operating leases will move onto the balance sheet with the new lease accounting rules implementation. At the beginning of this year, public companies started using Accounting Standards Update No. 2016-02, Leases. Private companies must apply the updated guidance for fiscal years beginning after…

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Exterior Office Building

Should You Elect S Corporation Status?

Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the federal level). Self-employed people may also be able to lower their exposure to Social Security and Medicare taxes if they structure their businesses…

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Fountain Pen

FASB Seeks Deadline Extension for Hedging, Leases and CECL

The Financial Accounting Standards Board (FASB) is proposing review and comment to allow private companies, not-for-profit organizations and certain small public companies more time to apply FASB standards for leases, hedging and current expected credit losses (CECL). Stakeholders should provide…

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Binders Stacked

Saying Farewell to LIBOR

Many companies pay interest on variable rate loans, based on the London Interbank Offered Rate (LIBOR). In response to a series of scandals in which regulators uncovered banks colluding in attempt to manipulate LIBOR and profit from financial instruments supported by LIBOR, LIBOR will phase out by…

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