Thought Leadership

Sticky Notes on Pages in Book

Lease Terms are Being Revised to Avoid New Lease Accounting Rules

A desire to avoid lease accounting rules for new contracts has debt-strapped private companies exploring new avenues. But why? Some fear that by implementing the guidance, they would violate loan covenant agreements with lenders that limit the liability amounts they’re allowed to carry. However,…

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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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Caution Tape

To Be Effective, You Can't Fight Fraud Passively

When it comes to reducing fraud loss and duration, active detection methods (such as surprise audits or data monitoring) are far more effective than passive methods (such as confessions or notification by police).

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Side of Glass Office Building

Public Company Insights: SEC Proposes Redefining Accelerated Filers

Under an SEC proposal published in the Federal Register on May 29, 2019, smaller reporting companies who qualify as accelerated filers but have annual revenue below $100 million would be recategorized as non-accelerated filers. That status would extend filing deadlines and relieve these companies…

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Billfold in Demin Pocket

More Than Hours and Rates — Internal Controls over Payroll

When most administrators think about controls over payroll, they are primarily worried about fraud — that is, paying for time someone didn’t actually work. However, that’s not the only risk: ensuring faculty and staff are paid accurately is just as important. And as important as preventing mistakes…

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