Accounting for Grant Restrictions and Grant Conditions 

regulatory accounting community banks

Being awarded a new grant is exciting news for any organization, but properly accounting for grant restrictions and conditions is essential to the accurate financial reporting of any organization. Here is what you need to consider: Determine whether the Grant is Conditional or Unconditional Are there performance barriers that need to be overcome prior to […]

New FASB Standard Makes It Easier for Companies To Hold Crypto

In 2023, the Financial Accounting Standards Board (FASB) published nine new accounting standard updates (ASUs). Included in this updated guidance came a change to crypto asset standards that made it easier for companies to hold crypto assets on their balance sheet. Read on to get our thoughts on this new standard that was published in […]

Maintain International Tax Compliance with Our Four Tips

A U.S. taxpayer with foreign involvement is likely subject to additional reporting requirements, particularly in the realm of international tax compliance. While many of these additional requirements have historically been informational, the passing of the Tax Cuts and Jobs Act (TCJA) in 2017 introduced new tax requirements. Like all tax standards, non-compliance can lead to sizable penalties. […]

3 Ways to Add Value to Your Business With Accounting Expertise

In today’s world, accounting is now at the center of strategic decisions and value creation, compared to traditionally focusing on historical data and compliance for regulatory and lending purposes. Here are three ways how accounting professionals can help management make better-informed decisions, as well as recognize inefficiencies and opportunities to pivot or improve performance. Leveraging […]

3 Reasons to Consider Outsourced Accounting for Nonprofits

regulatory accounting community banks

As the pace of change and innovation continues to accelerate, nonprofits are finding new and creative ways to keep up. Today’s leading nonprofits are perfecting the art of virtual fundraising and volunteering. They’re implementing fresh social media strategies. They’re creating innovative donor retention programs. And they’re driving their missions forward despite myriad ongoing global challenges. […]

Safeguarding Integrity: The Importance of SOX Compliance

In the aftermath of major financial scandals that shook the global economy, the U.S. Congress enacted the Sarbanes-Oxley Act (SOX) in 2002 to restore confidence in the financial markets. The legislation introduced stringent regulations to ensure the integrity of financial reporting and corporate governance practices. While SOX compliance applies to all public companies, its significance is particularly […]

FASB Issues Proposal on Crypto Assets

The Financial Accounting Standards Board (FASB) issued a proposal in March 2023 to provide accounting and disclosure rules for certain types of cryptocurrency assets. The proposal would help companies more accurately reflect the economics of such assets. If finalized, the proposal would introduce the first explicit accounting standard on crypto assets into U.S. Generally Accepted […]

Are You Ready for New Regulations Impacting Financial Institutions?

2022 presented financial regulators with a variety of new things to consider. With high inflation, interest rate hikes, the conflict in Ukraine, lingering effects of the pandemic, stock and bond market volatility, and events in the crypto asset markets there are many factors at play. New rules and regulations are being introduced, and existing ones […]

Suspicious activity: Are you seeing the big picture?

SAR suspicious activity report

Monitoring customer transactions for suspicious activity — and filing Suspicious Activity Reports (SARs) when appropriate — is a key component of a financial institution’s Bank Secrecy Act / Anti-Money Laundering (BSA/AML) program. Unfortunately, many banks make the mistake of focusing their efforts on deposit accounts and paying less attention to other products and services, particularly […]

2022 Year-End Tax Planning for Individuals — Recorded Webinar

calculator on top of money tax

View On-Demand Webinar: Year-End Tax Planning for Individuals On December 1, 2022, Jane Pfeifer and Mark Gaudet (joined by moderator Brendan Walsh) looked at the tax implications individuals should consider for the end of 2022. Although the live webinar event has ended, you can view the recording by clicking the button below. Please note: CPE […]

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