September 23, 2022 | Blog | Steven Bailey, CPA, and Geoff Braun, CPA
The long-awaited change to the lease accounting standard ASU 2016-02, Leases (ASC 842) is now effective for privately-held companies. As the first major update to lease accounting in 40 years, the core principle of ASC 842 is that lessees will have to recognize a... continue reading »September 19, 2022 | Blog | Marcia Nally, CPA
On August 16, 2022, President Biden signed into law the $430 billion Inflation Reduction Act (IRA). The bill contains several green energy tax incentives intended to combat climate change, including the expansion of commercial solar panel credits, 179D deductions, and... continue reading »September 9, 2022 | Blog | Steven Murphy, CPA; and Stephanie George, CPA
This article was originally published in the Fall 2022 issue of GACS Today, a publication of the Georgia Association of Convenience Stores. On May 4, 2021, Governor Brian Kemp signed into law H.B. 149, which would allow pass-through entities in Georgia to pay state... continue reading »August 29, 2022 | Blog | Geoff Braun, CPA
Adopting the new lease accounting standard has proven to be no easy task. Private companies are running out of time to implement this new accounting standard. Companies must report their leases based on this new standard in their December 31, 2022, financial... continue reading »August 23, 2022 | Blog | Kelly Bird-Keith, CPA
During the past few years, we have seen a massive disruption in the labor force, with more than 47 million American workers leaving their jobs in 2021 alone. Many of these workers are permanently exiting the workforce and opting for early retirement or... continue reading »August 18, 2022 | Blog | Journet Greene, CISA
When a company determines they need to obtain a SOC report, they usually ask one major question: How much will it cost? The answer: It depends. The effort needed to complete the engagement primarily drives the cost. Several factors impact the service auditor’s level... continue reading »