New Standard Alert! Answers to Five Questions on the New Lease Accounting Standard

After years of debate and several iterations of exposure drafts, the Financial Accounting Standards Board (FASB) finally issued ASU No. 2016-02 in February 2016. This ASU established a new section within the codification as ASC 842 which, when effective, will supersede the previous lease guidance within ASC 840.
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How to Identify and Document Management Review Controls (Part 1)

The process for identifying and documenting management review controls (MRCs) can be extremely challenging for many companies. It takes significant resources and focus to initially implement. If done properly though, it can return substantial value, helping you to better evaluate the controls within your Sarbanes-Oxley compliance program and serving as an important roadmap in the event of employee turnover. In Part 1 of this post, we will see if we can better define exactly what qualifies as MRCs.

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7 Ways for CPAs to Get the Most Out of Continuing Professional Education Training

In order to maintain a CPA license, most state boards require accountants to take a specified number of hours of continuing professional education (CPE) training each year. More often than not though, we hear CPAs acknowledge that they are dissatisfied with their continuing professional education training or that they feel they are just going through the motions to get what they need to maintain their license. As training expenses continue to escalate in the form of out-of-pocket dollars and opportunity costs, it’s important that CPAs take full advantage of their CPE. Here are seven ways for CPAs to get the most out of continuing professional education training sessions:

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