Original air date: March 27, 2018
Recording available at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: April 13, 2017
Slides and recording info on http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: Dec. 21, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Air date: Oct. 2, 2018
Recording available at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: Dec. 4, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
As the effective date for changes to revenue recognition quickly approaches, are you aware of what new information will be required to be included in financial statement disclosures?
In this webinar, we will discuss pre-adoption disclosure and the disclosure requirements contained in ASC Topic 606 Revenue from Contracts with Customers. Join us as we walk through examples from public companies that have early adopted to illustrate key parts of these requirements.
Original air date: Feb. 1, 2018
Recording available at http://www.mhmcpa.com
Tax reform passed at the end of 2017 should be incorporated in December 31, 2017 financial statements. Several of the provisions in the "Tax Cuts and Jobs Act" directly impact the preparation of the financial statements this year and we will discuss the most significant items that should be considered when preparing the financial statements.
Original air date: Aug. 14, 2018
Recording available at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Air date: Oct. 15, 2018
Recording available at http://www.mhmcpa.com
Lease accounting underwent a major revision with the issuance of the Financial Accounting Standards Board’s Accounting Standards Update 2016-02, Leases (Topic 842). The update made adjustments to the recording of leases and this course will specifically discuss the changes in lessor accounting. We'll also discuss where lessees may struggle with implementation and where they may look for help from lessors in these lease contracts.
Original air date: June 6, 2018
Recording available at http://www.mhmcpa.com
With so many players involved, the international tax landscape is ever-changing. Staying up-to-date on recent developments, trends and areas of regulatory scrutiny are critical to your planning.
Our webinar will recap hot topics, technical matters and other current events that have a bearing on international tax planning and compliance. We will highlight emerging best practices and other tips to help you navigate through these areas.
Original air date: April 13, 2017
Slides and recording info on http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: Dec. 21, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Air date: Oct. 2, 2018
Recording available at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: Dec. 4, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
As the effective date for changes to revenue recognition quickly approaches, are you aware of what new information will be required to be included in financial statement disclosures?
In this webinar, we will discuss pre-adoption disclosure and the disclosure requirements contained in ASC Topic 606 Revenue from Contracts with Customers. Join us as we walk through examples from public companies that have early adopted to illustrate key parts of these requirements.
Original air date: Feb. 1, 2018
Recording available at http://www.mhmcpa.com
Tax reform passed at the end of 2017 should be incorporated in December 31, 2017 financial statements. Several of the provisions in the "Tax Cuts and Jobs Act" directly impact the preparation of the financial statements this year and we will discuss the most significant items that should be considered when preparing the financial statements.
Original air date: Aug. 14, 2018
Recording available at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Air date: Oct. 15, 2018
Recording available at http://www.mhmcpa.com
Lease accounting underwent a major revision with the issuance of the Financial Accounting Standards Board’s Accounting Standards Update 2016-02, Leases (Topic 842). The update made adjustments to the recording of leases and this course will specifically discuss the changes in lessor accounting. We'll also discuss where lessees may struggle with implementation and where they may look for help from lessors in these lease contracts.
Original air date: June 6, 2018
Recording available at http://www.mhmcpa.com
With so many players involved, the international tax landscape is ever-changing. Staying up-to-date on recent developments, trends and areas of regulatory scrutiny are critical to your planning.
Our webinar will recap hot topics, technical matters and other current events that have a bearing on international tax planning and compliance. We will highlight emerging best practices and other tips to help you navigate through these areas.
Air date: Aug. 15, 2018
Recording at http://www.mhmcpa.com
The 20% QBI deduction under Section 199A affects all businesses other than C corporations. The pervasive importance of this complicated new deduction has attracted extraordinary interest in IRS regulations to help resolve many ambiguities in the law. Join us as we unpack these new and anxiously awaited regulations.
Original air date: Jan. 24, 2018
Recording available at http://www.mhmcpa.com
Several provisions in the new tax reform law will have a significant impact on not-for-profit organizations starting in 2018. From excise taxes to new unrelated business income considerations, organizations will need to take a close look at how tax reform changes affect their financial planning.
In our webinar, we will focus on the manner in which not-for-profit organizations are impacted by the new law, and will offer insight about how the not-for-profit sector should respond to the new provisions.
Original air date: June 5, 2018
Recording at http://www.mhmcpa.com
The new partnership audit rules are in play for tax years beginning after Dec. 31, 2017. There is still time to amend partnership and LLC agreements, as will be necessary in nearly all cases. Certain critical aspects of the new rules were clarified in proposed regulations that the IRS published recently. As the IRS works to finalize these regulations later this year, businesses should prepare for the potential impact of these regulations, which will be explored in this webcast.
During this webinar we will review the current status of the tax world for both business and personal tax. This webinar will dive into how we got to where we are at, what is going on now, and where we might be headed in 2017 and beyond. This presentation will also highlight new, proposed tax reform plans, how they differ from the current plans, and how they might impact both business and personal income tax.
Whether you represent a large corporation, a small business, or a not-for-profit organization, it can be difficult to stay up to date on current accounting topics. Join Timothy McLaughlin, Vincent Leo, and Michael Giess for an overview of changes that may affect your organization and how to apply the most recent standards and guidance.
Designed to benefit financial controllers and directors working in commerce, providing an ideal opportunity to update your knowledge on a wide range of subjects.
Accounting for Income Taxes - Complex Matters 12 17 09KatherineMorris
A comprehensive presentation that covers the entire subject matter of accounting for income taxes and uncertain tax positions in today\'s environment with current matters, examples, and addressing how to prepare for your auditor\'s review of income taxes
Revenue Recognition In IFRS By Yash BatraYash Batra
Detailed Presentation on revenue recognition as per IFRS. Accounting on revenue recognition is critical especially when World has defined path to follow IFRS accounting and reporting of its financial. I have tried to capture all critical aspects of revenue recognition in this presentation.
Taunton - Essential 6-monthly Finance Directors' Update - June 2018PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Following recent high profile corporate failures, we look at corporate governance and the responsibility of the Finance Director in managing risk and compliance, together with key updates on tax, employee benefits, financial reporting and corporate finance.
Insero & Co. CPAs presents an overview of New York State and U.S. Tax reform, the economy and current trends, and what they mean for you. Whether you represent a large corporation or a small business, this update will help you get up to speed on current rules and regulations and plan for changes that may be on the horizon.
This presentation will address various challenges in the application of tax provisions under ASC 740, Accounting for Income Taxes. The discussion will focus on complexities related to the calculation and reporting of valuation allowances, deferred taxes, interim taxes, intraperiod tax allocation, uncertain tax positions, and financial statement presentation.
For more information visit www.heincpa.com.
Original air date: June 26, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: Oct. 2, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Air date: Aug. 15, 2018
Recording at http://www.mhmcpa.com
The 20% QBI deduction under Section 199A affects all businesses other than C corporations. The pervasive importance of this complicated new deduction has attracted extraordinary interest in IRS regulations to help resolve many ambiguities in the law. Join us as we unpack these new and anxiously awaited regulations.
Original air date: Jan. 24, 2018
Recording available at http://www.mhmcpa.com
Several provisions in the new tax reform law will have a significant impact on not-for-profit organizations starting in 2018. From excise taxes to new unrelated business income considerations, organizations will need to take a close look at how tax reform changes affect their financial planning.
In our webinar, we will focus on the manner in which not-for-profit organizations are impacted by the new law, and will offer insight about how the not-for-profit sector should respond to the new provisions.
Original air date: June 5, 2018
Recording at http://www.mhmcpa.com
The new partnership audit rules are in play for tax years beginning after Dec. 31, 2017. There is still time to amend partnership and LLC agreements, as will be necessary in nearly all cases. Certain critical aspects of the new rules were clarified in proposed regulations that the IRS published recently. As the IRS works to finalize these regulations later this year, businesses should prepare for the potential impact of these regulations, which will be explored in this webcast.
During this webinar we will review the current status of the tax world for both business and personal tax. This webinar will dive into how we got to where we are at, what is going on now, and where we might be headed in 2017 and beyond. This presentation will also highlight new, proposed tax reform plans, how they differ from the current plans, and how they might impact both business and personal income tax.
Whether you represent a large corporation, a small business, or a not-for-profit organization, it can be difficult to stay up to date on current accounting topics. Join Timothy McLaughlin, Vincent Leo, and Michael Giess for an overview of changes that may affect your organization and how to apply the most recent standards and guidance.
Designed to benefit financial controllers and directors working in commerce, providing an ideal opportunity to update your knowledge on a wide range of subjects.
Accounting for Income Taxes - Complex Matters 12 17 09KatherineMorris
A comprehensive presentation that covers the entire subject matter of accounting for income taxes and uncertain tax positions in today\'s environment with current matters, examples, and addressing how to prepare for your auditor\'s review of income taxes
Revenue Recognition In IFRS By Yash BatraYash Batra
Detailed Presentation on revenue recognition as per IFRS. Accounting on revenue recognition is critical especially when World has defined path to follow IFRS accounting and reporting of its financial. I have tried to capture all critical aspects of revenue recognition in this presentation.
Taunton - Essential 6-monthly Finance Directors' Update - June 2018PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Following recent high profile corporate failures, we look at corporate governance and the responsibility of the Finance Director in managing risk and compliance, together with key updates on tax, employee benefits, financial reporting and corporate finance.
Insero & Co. CPAs presents an overview of New York State and U.S. Tax reform, the economy and current trends, and what they mean for you. Whether you represent a large corporation or a small business, this update will help you get up to speed on current rules and regulations and plan for changes that may be on the horizon.
This presentation will address various challenges in the application of tax provisions under ASC 740, Accounting for Income Taxes. The discussion will focus on complexities related to the calculation and reporting of valuation allowances, deferred taxes, interim taxes, intraperiod tax allocation, uncertain tax positions, and financial statement presentation.
For more information visit www.heincpa.com.
Original air date: June 26, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: Oct. 2, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: Jan. 19, 2017
Rebroadcast and recording info available at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: July 2, 2018
Recording at http://www.mhmcpa.com
This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events impacting financial reporting and the accounting profession.
Professionals from CBIZ and MHM will discuss recent happenings at the Financial Accounting Standards Board, American Institute of Certified Public Accountants, Securities and Exchange Commission, Public Company Accounting Oversight Board and other relevant governance bodies. We will also touch on recent tax changes and proposed legislation.
Original air date: July 24, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
During this presentation, we will review the key aspects of the new revenue recognition financial reporting standards as well as the income tax regulations for revenue recognition. We will explore inconsistencies between these two frameworks and analyze possible compliance measures to which businesses may be subject in order to adopt a new method of accounting for tax purposes.
How does the new guidance in FASB ASC 825, Financial Instruments, differ from current GAAP? This course will help you answer that question. We will explain the core principles of the new standards. Understanding the new rules for classifying and measuring financial instruments is essential for proper reporting. The background, purpose and main provisions of the new guidance will be discussed during this webinar. Attendees should have a basic understanding in the application of accounting standards before attending this webinar.
Air date: Sept. 25, 2018
Recording at http://www.mhmcpa.com
Lease accounting underwent a major revision with the issuance of the Financial Accounting Standards Board’s Accounting Standards Update 2016-02, Leases (Topic 842). The update made adjustments to lessee and lessor accounting. This course will discuss the changes and the challenges in implementation as well as the frequently asked questions of professionals concerning the changes.
Original air date: Sept. 20, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
Long-term construction contracts typically use the percentage-of-completion (POC) accounting method. A change in the profit margin for a long-term POC contract could be a cause of a concern, and if not addressed, may result in restatement of your financial statements.
In this webinar, we will help you identify when a change in profit margin results from an error versus a change in estimate.
Original air date: Aug. 23, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
The new definition of a business also affects accounting for complex transactions. As a result of the accounting standards changes, fewer transactions may qualify as business combinations.
During this session, we will discuss the new definition of a business and the critical issues surrounding business combinations. We will also provide examples of applying the acquisition method.
Original air date: July 26, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
Lease accounting underwent a major renovation in February 2016 with the release of the new leasing standard. The Financial Accounting Standards Board’s Accounting Standards Update 2016-02, Leases (Topic 842) makes adjustments to several facets of lessee and lessor accounting.
In this session, we will answer frequently asked questions related to the new standard. Participants should have a basic knowledge of the new standard.
Air date: Sept. 28, 2018
Recording available at http://www.mhmcpa.com
New revenue recognition standards under ASC Topic 606 and changes to ASC Topic 958 are taking effect, and not-for-profit organizations should be getting ready. Tax-exempt entities will need to consider transactions other than contributions and investment returns in order to correctly record revenue under the new accounting criteria. Not-for-profits must also consider the guidance that was recently released clarifying how the new standards relate to contributions made and received.
In our webinar, we will discuss how not-for-profit organizations can prepare for the changes, which are effective for years ended December 31, 2018 for conduit debt issuers and for years ended December 31, 2019 for others.
Original air date: Aug. 31, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
The course includes an overview of the new revenue recognition standard, a discussion of transition requirements, disclosures, and relevant internal controls, and highlights implementation issues that are impacting the services industry.
Original air date: June 9, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
Join our Employee Benefit Plan experts for a concise review of audit and accounting issues and the latest tax updates and tax strategies for compliant plan design. Other topics include changes to the IRS Determination Letter Program, substantiation guidelines for hardship distributions and cybersecurity basics for employee benefit plans.
Original air date: Dec. 20, 2017
Recording available at http://www.mhmcpa.com
A number of updates from the SEC and the Financial Accounting Standards Board (FASB) have had an effect on public company accounting and SEC reporting. The AICPA Conference on Current SEC and PCAOB Developments, held December 4-6 in Washington D.C., highlights some of the key topics that will have an impact on SEC registrants and other public business entities moving forward.
Members of our team who attended the conference will provide a debriefing on the key points, tips and other guidance shared at the conference.
Original air date: Feb. 22, 2018
Recording at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country’s tax laws. These changes generally are effective in 2018 and impact every taxpayer, including many provisions that will significantly impact partnerships, S corporations, and other closely held businesses.
We will focus on the manner in which closely held businesses are impacted by the new law, and will offer insight about how closely held businesses and investors should respond to the new provisions.
Air date: Oct. 1, 2018
Recording available at http://www.mhmcpa.com
Public companies are adopting the new revenue recognition standard under ASC Topic 606 for 2018, and private companies won’t be far behind. Our webinar will cover lessons learned from early adopters and steps your organization can take now to make the necessary changes and process updates.
Original air date: March 8, 2018
Recording available at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country's tax laws. Manufacturers will benefit from lower tax rates and more generous depreciation under the new law, but other nuances require further analysis.
We will focus on the changes to tax rates and depreciation, as well as new limitations on interest expense deductions, accounting methods for inventory and long-term contracts, and the new qualified business income deduction.
Original air date: Oct. 26, 2017
Rebroadcast and recording info at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Original air date: May 24, 2017
Rebroadcast and recording information at http://www.mhmcpa.com
Prospective acquirers in merger and acquisition transactions will conduct thorough due diligence procedures to assess a target's financial performance and liabilities. A target's abandoned or unclaimed property compliance may not be high on the list of areas to evaluate, but it's an important component for the acquirer. Merger and acquisition activity is one of the most common triggers for abandoned and unclaimed property exposure. With the increase in state enforcement actions, abandoned/unclaimed property exposure can bring significant risk of penalties or fines to your organization, which may remain undiscovered until critical negotiations are conducted in the transaction.
In this session, we will discuss how AUP affects merger and acquisition activities, recent updates in AUP laws and regulations, sanctioned use of independent contingent-fee audit firms, best practices for identifying and managing sources of AUP and how to proactively correct past mistakes through AUP remediation.
Similar to Webinar Slides: First Quarter Accounting and Financial Reporting Issues Update 2018 (20)
CBIZ and MHM are pleased to invite you to our 2018 Executive Education Series™ online training courses. This webinar-based training is designed to educate and inform our clients and the public on complex accounting and tax subject matters and current events. Continuing Professional Education (CPE) credit will be offered.
Online registration and more details about these free courses can be found at cbiz.com or mhmcpa.com.
The FASB recently issued guidance to make transitioning to and applying the new leasing standard easier. Accounting Standards Update 2018-11, Leases (Topic 842) Targeted Improvements (ASU 2018-11) addresses questions related to the initial adoption of the standard in comparative periods, and for lessor accounting, separating lease and nonlease components of a contract. Changes to the adoption requirements will be particularly important for SEC filers as they prepare their third and fourth quarter filings.
Sometimes a revision to an accounting standard will have an impact that takes a while to become apparent to the financial reporting community. Accounting standard changes tend to affect financial statements, and so changes to the financial statements may affect the business operations that rely on them, such as lending arrangements.
On June 21, 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions received and Contributions Made, which provides accounting guidance around contributions of cash and other assets received and made by not-for-profit organizations and business enterprises.
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-07 Compensation—Stock Compensation (Topic 718) as part of its Simplification Initiative to reduce complexity when accounting for share-based payments to non-employees.
The areas for simplification in ASU 2018-07 involve several aspects of the accounting for non-employee share-based payment transactions resulting from expanding the scope of Accounting Standards Codification (ASC) Topic 718, Compensation—Stock Compensation, to include share-based payment transactions for acquiring goods and services from non-employees and aligning it with the accounting for share-based payments to employees, with certain exceptions.
A new accounting standard will soon be coming that has the potential to simply the application of the consolidation guidance to private companies.
The FASB recently voted to affirm decisions made in an exposure draft issued last year modifying the variable interest entity (VIE) consolidation model.
Original air date: May 17, 2018
Recording at http://www.mhmcpa.com
Service businesses that transact business across state lines and nationally are subject to state income taxes in many jurisdictions. The tax laws for each state are different, including the manner in which states determine the location of sales for apportionment purposes. Service businesses must contend with varying rules to determine the state to which sales revenues should be assigned.
This webinar will examine the common approaches utilized by state taxing jurisdictions to source service revenue in order to provide an overview of the principles involved.
Original air date: May 15, 2018
Recording available at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
Regardless of size or type of operation, all companies can benefit from having an audit committee to help with corporate governance strategies and, ultimately, provide the best chance to ensure the organization’s success. In the case of public companies, the Sarbanes-Oxley Act of 2002 (SOX), makes it a requirement to have an audit committee that follows several key mandates for reporting annual financial statements. Private sector companies can benefit from audit committee oversight, as well.
The time has come for public companies to adopt the new revenue recognition standard. Early adopters have already given us an indication of what the audit risks will be, and they've also been the guinea pig for comments from regulators. As expected, the adoption and application of the new guidance is an item that the Securities and Exchange Commission (SEC) is paying attention to, already having sent comment letters to several early adopters. The ongoing public company adoption and comment process is important for private companies as well. The questions the SEC raised will influence how certain types of contracts are approached and the types of information that will be expected to comply with the disclosure requirements.
Original air date: Feb. 21, 2018
Recording available at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country’s tax laws. These changes generally are effective in 2018 and impact every taxpayer as well as activities such has mergers and acquisitions (M&A). Businesses and their owners have new and unique considerations to take into account as they optimize M&A decisions under these provisions.
We will focus on proper entity selection, the new net operating loss provisions, the new limitations on deductibility of interest and assessing the impact of the temporary full capital expensing provisions.
Original air date: Feb. 8, 2018
Recording available at http://www.mhmcpa.com
Administrative, legislative and judicial updates emerge from Washington each quarter that may affect your business. Our free, quarterly webinars provide insight to help prepare you for the tax developments of the most interest to you, your business and other interested stakeholders.
Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance and healthcare reform, topics covered will provide the up-to-date information you need to help you plan for the future.
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country’s tax laws. These changes generally are effective in 2018 and impact every taxpayer, including many provisions that will significantly impact the construction sector.
We will focus on the manner in which construction businesses are impacted by the new law, and will offer insight about how the sector should respond to the new provisions.
Original air date: Jan. 30, 2018
Recording available at http://www.mhmcpa.com
Several provisions in the new tax reform law will have a significant impact on the real estate sector in 2018, including tax considerations for pass-through entities, interest expense limitations and like-kind exchange limitations.
In our webinar, we will focus on the manner in which real estate businesses are impacted by the new law and offer insight about how real estate businesses and investors should respond to the new provisions.
Effective Jan. 1, 2017, Revenue Procedure 2016-37 changed the IRS determination letter program to eliminate the five-year remedial amendment cycle for tax-qualified individually designed plans (IDP).
After Jan. 1, 2017, sponsors of IDPs are only permitted to apply for determination letters for initial plan qualification and upon the plan's termination, and in certain other circumstances that will be decided by the Treasury Department and IRS. Determination letters will still be issued for volume submitter plans or other types of pre-approved plans.
The changes could mean that determination letters for your employee benefit plan are out-of-date, particularly if your organization has an individually designed plan. A close evaluation of your plan documentation will be essential.
Original air date: Jan. 25, 2018
Recording available at http://www.mhmcpa.com
The tax reform bill was signed into law on Dec. 22, 2017, bringing sweeping and historic changes to our country’s tax laws. These changes generally are effective in 2018 and impact every taxpayer. International taxation received significant changes, with provisions related to participation exemption, mandatory repatriation tax, U.S. base erosion, global intangible low-taxed income, foreign-derived intangible income, foreign tax credits, Subpart F, and sale of partnership interests.
We will focus on the manner in which international businesses are impacted by the new law, and will offer insight about how international businesses and investors should respond to the new provisions.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
Webinar Slides: First Quarter Accounting and Financial Reporting Issues Update 2018
1. #cbizmhmwebinar 1
CBIZ & MHM
Executive Education Series™
First Quarter Accounting and
Financial Reporting Issues Update
James Comito, Mark Winiarski, Nate Smith
March 27, 2018
2. #cbizmhmwebinar 2
About Us
• Together, CBIZ & MHM are a Top Ten accounting provider
• Offices in most major markets
• Tax, audit and attest and advisory services
• Over 2,900 professionals nationwide
A member of Kreston International
A global network of independent
accounting firms
MHM (Mayer Hoffman McCann P.C.) is an independent CPA firm that provides audit, review and attest services, and works closely with CBIZ, a business consulting,
tax and financial services provider. CBIZ and MHM are members of Kreston International Limited, a global network of independent accounting firms.
3. #cbizmhmwebinar 3
Before We Get Started…
• Original Broadcast - Use the control panel on
the right side of your screen to:
• Change your audio mode
• Submit questions
• Download handouts
• Rebroadcast:
• Listen through your computer
• Email questions to
cbizmhmwebinars@cbiz.com
• Click blue handouts icon
• If you need technical assistance:
• Call support at 877-582-7011
• Email us at cbizmhmwebinars@cbiz.com
Original Broadcast:
4. #cbizmhmwebinar 4
CPE Credit
This webinar is eligible for CPE
credit. To receive credit, you will
need to answer polling
questions throughout the
webinar.
External participants will receive
their CPE certificates via email
within 15 business days of the
webinar.
5. #cbizmhmwebinar 5
Disclaimer
The information in this Executive Education Series
course is a brief summary and may not include all
the details relevant to your situation.
Please contact your service provider to further
discuss the impact on your business.
6. #cbizmhmwebinar 6
Presenters
James Comito, CPA
National Director of Professional
Standards
The Director of MHM's Professional Standards Group, James has
expertise in all aspects of revenue recognition, business combinations,
impairment of goodwill and other intangible assets, accounting for
stock-based compensation, accounting for equity and debt instruments
and other accounting issues.
Additionally, he has significant experience with a variety of other
regulatory and corporate governance issues pertaining to publicly
traded companies, including all aspects of internal control. In addition,
James frequently speaks on accounting and auditing matters at various
events for MHM.
858.795.2029 • jcomito@cbiz.com
7. #cbizmhmwebinar 7
Presenters
Located in our Kansas City office, Mark is a member of our Professional
Standards Group (PSG). Mark's role includes instructing in our national
training program, presenting as a subject matter expert at webinars and
conferences, and preparing MHM publications on accounting and
auditing issues.
As a PSG member , Mark consults with clients and engagement teams
across the country in many areas of accounting and auditing. Mark has
served clients as an auditor, consultant and advisor in numerous
industries including manufacturing, distribution, mining, retail sales,
services and software.
913.234.1656 • mwiniarski@cbiz.com • @KCWini
MARK WINIARSKI, CPA
MHM Shareholder
8. #cbizmhmwebinar 8
Nathan Smith is a Director in the CBIZ National Tax Office, bringing over
19 years of experience in public accounting to provide technical support
and strategic solutions for the firm’s tax practice. Nathan leads the
development of practice aids and tactical approaches used in
responding to industry and Federal tax developments in a variety of
subject matter areas. Nathan also consults nationally to facilitate
delivery of client service opportunities and solutions, contributes as an
author and editor to the firm's tax thought leadership publications and
assists with the development and implementation of national tax
policies and procedures.
727.572.1400 • nate.smith@cbiz.com
Nathan Smith, CPA
Director
Presenters
11. #cbizmhmwebinar 11
Lease Accounting
• Land Easements (ASU 2018-01)
• New practical expedient for transition
• Elect to scope out easements that exist or expire upon
the adoption of Topic 842 Leases that were previously
not evaluated under Topic 840 Leases
• Clarify that land easements should be evaluated
under the new lease guidance
• Land easements (or rights of way) is the right to use,
access, or cross another entity’s land for a specified
purpose
12. #cbizmhmwebinar 12
Lease Accounting
• New proposal
• Permit simplified transition
• Adjust the opening balance sheet the year of adoption
i.e. do not revise prior periods
• Lessors may elect to not separate non-lease
components:
• Elected by class of underlying leased asset
• Non-lease component must have same timing and
pattern of revenue recognition
• Only applies to operating leases
13. #cbizmhmwebinar 13
Financial Instruments (ASU 2018-03)
• Clarifies several questions raised about the new
recognition and measurement guidance (ASU 2016-01)
that is effective in 2018 for PBEs 2018 and 2019 for all
others
1. Presentation guidance for financial liabilities accounted
for under the fair value option (ASC 825-10-45-5):
a) Separate presentation of fair value change in instrument-specific
credit risk in OCI applies to hybrid financial liabilities
b) Measurement of the fair value change in instrument-specific
credit risk is done in the applicable foreign currency first, then
remeasured into the functional currency at end-of-period spot
rates
14. #cbizmhmwebinar 14
Financial Instruments (ASU 2018-03)
2. Practical expedient for equity securities without readily
determinable fair value:
a) Entities can switch to the fair value method
b) Adjustments to the carrying value are made based on:
i. Fair value on the date of an observable transaction
ii. Entire value of forward contracts and purchased options
when an observable transaction occurs for the underlying
equity investment
c) Prospective transition only applies to equity securities
for which the measurement alternative was elected
Effective for PBE’s fiscal years beginning before June 15, 2018 first adopt
the guidance for the interim period beginning after June 15, 2018
15. #cbizmhmwebinar 15
Derivatives and Hedging
• Proposal to include the overnight index swap (OIS)
rate on the secured overnight financing rate (SOFR) as
a benchmark interest rate
• Alternative Reference Rates Committee (ARRC) created
the new index in response to concerns about LIBOR
• Federal Reserve Board believes the inclusion of the new
rate for hedge accounting will broaden its usage
16. #cbizmhmwebinar 16
Cloud Computing Proposal
• Entities would apply the capitalization guidance for
internal use software to the implementation of cloud
based applications. Capitalize when:
• Preliminary project stage is complete
• Management authorizes and commits to funding
• Probable that the project will be completed
Preliminary
project stage
Application
development
stage
Post-
implementation /
operations stage
17. #cbizmhmwebinar 17
Cloud Computing Proposal
• Costs eligible for capitalization:
• Design, configuration and interface
• Coding
• Testing
• Certain data conversion costs
• Costs incurred to allow access to old data
• Amortization over the non-cancellable term plus any
renewals reasonably certain to be exercised to the
same line item as hosting fees on the income
statement
18. #cbizmhmwebinar 18
D
i
s
c
l
o
s
u
r
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Cybersecurity
• SEC interpretation takeaways
• Preparers are encouraged to consider the
materiality of cybersecurity risks and
incidents when preparing disclosures
• Risk factors
• MD&A
• Description of business
• Legal proceedings
• Financial statements
• Board risk oversight
19. #cbizmhmwebinar 19
Cybersecurity
• SEC interpretation takeaways
• Policies and procedures should be monitored to ensure
• Relevant information about cybersecurity risks and
incidents is communicated to the appropriate personnel
• Insider trading based on material non-public information
is prevented
Material information arising from known breaches may be
appropriately disclosed in a Form 8-K or 6-K.
21. #cbizmhmwebinar 21
Public Companies – New Standards Everywhere…
• Revenue Recognition
• Breakage of prepaid cards
• Service concessions arrangements
• Recognition and measurement of financial
instruments
• Definition of a business
• Derecognition of nonfinancial assets
• Presentation of pension costs
• Accounting for taxes for intra-entity transfers
• Sock compensation modifications
• Cash flow clarifications and restricted cash
22. #cbizmhmwebinar 22
Don’t forget…
• Prepare annual disclosures for new accounting
standards in quarterly filings in the year of adoption
• Assess and disclose material changes to internal
controls over financial reporting
• Focus on SAB 74 leasing disclosures
• Incrementally disclose more information as it becomes
known
23. #cbizmhmwebinar 23
Revenue Recognition – Early Adopters
• SEC comment letters are requesting more information:
• Explain basis for accounting under Topic 606 (and Topic 605!)
for accounting when a change occurs
• Explain why seemingly similar transactions result in different
accounting outcomes under Topic 606
• Compliance with disaggregate revenue disclosures
• Alignment with earnings releases and other public statements
• Descriptions of methods, assumptions and estimates used for
variable consideration
Best advice: Be prepared with contemporaneous
documentation!
24. #cbizmhmwebinar 24
Standards for non-public business entities
• Balance sheet classification of deferred taxes
• Contingent put and call options in debt instruments
• Derivative contract novations
• Improvements to employee share-based payment
accounting
• Scope of stock compensation guidance
26. #cbizmhmwebinar 26
Agenda
Qualified Business Income Deduction04
05
Deductibility of Excess Business Losses
Depreciation Provisions
02
Limitation of Business Interest Deduction
03
Accounting Methods Provisions
Corporate Tax Changes
06
01 US GAAP Overview
International Tax Accounting Issues
07
08
28. #cbizmhmwebinar 28
When do you Recognize TCJA Changes?
US GAAP requires tax law
changes to be recognized
as of the date of
enactment
29. #cbizmhmwebinar 29
What Does Recognition Mean?
• Applicable for interim and annual financial statements
dated December 31, 2017
• All Deferred tax positions need to be adjusted
• Certain payables/receivables may need to be recorded
• Valuation allowances need to be revisited
• Expanded disclosures may be necessary
• Internal controls will need to be assessed to ensure
compliance with the reporting requirements
30. #cbizmhmwebinar 30
Measurement Period - Three Scenarios – SAB 118
• Measurement is complete
• ASC 740 disclosures apply
• Measurement is not complete, but a
“reasonable estimate” can be made
• ASC 740 and SAB 118 disclosures apply
• Recognize revisions to estimates as a discrete
item in the period they are made
• A “reasonable estimate” can not be made
• ASC 740 and SAB 118 disclosures apply
Apply
H.R. 1
Apply
Prior Tax
Law
UptoOneYear
MeasurementPeriod
32. #cbizmhmwebinar 32
Staff Accounting Bulletin 118 – Disclosure Requirements
Required Disclosures – Applied by individual tax effect
• Qualitative information of the income tax effects for which the accounting
is incomplete
• Items reported as provisional amounts
• Existing current or deferred tax amounts which measurement has not
been completed
• Reason accounting is incomplete
• Information that needs to be obtained, prepared or analyzed to complete
the accounting
• Nature and amount of measurement period adjustments recognized in
the period
• Effect of measurement period adjustments on the effective tax rate
• When accounting has been completed
33. #cbizmhmwebinar 33
Accounting by Pass Through Entities
• Generally no effect, however a distribution can occur
when a pass-through agrees to pay, or pays, directly a
shareholder tax
• S-Corporation that becomes jointly obligated for
mandatory repatriation tax
• Unrelated to the TCJA, a partnership pays a tax under
the rules for audits of partnerships
35. #cbizmhmwebinar 35
Reduction in Corporate Tax Rates
Top corporate rate drops to 21% from 35% (40% decrease)
Effective for “taxable years beginning after 12/31/17”
Blended rate for fiscal year taxpayers-IRC Sec. 15
Corporate AMT is repealed
Any remaining minimum tax credits (MTC) will offset
regular tax liabilities
50 percent of the MTC is refundable for tax years
beginning after 2017 and before 2021 and 100 percent
refundable for years beginning in 2021
36. #cbizmhmwebinar 36
Effective Tax Rate Change - Backwards Tracing
• US GAAP requires a change in tax rate to be
recognized through current income tax expense
• Including adjustments for deferred taxes related to
items in accumulated other comprehensive income
(AFS, Hedging, FX, Pension)
• Don’t adjust accounting for business combinations
before December 22, 2017
• Do consider the effect of the December 22, 2017
measurement date for items in OCI, except
• Pension and OPEB liabilities
37. #cbizmhmwebinar 37
Accumulate Other Comprehensive Income Reclassification
• ASU 2018-02 permits elections to reclassify “stranded” tax
effects in AOCI to retained earnings:
• Direct effect of the change in corporate income taxes
• Remeasurement from 35% to 21%
• Other effects of the tax cuts and jobs act
• Repatriation tax
• State tax effect
• Disclosure of whether the election was made or not, and the
other effects that were elected to be reclassified (if any)
• Effective for fiscal years beginning after December 15, 2018,
early adoption permitted
• Apply on a modified retrospective or retrospective method
38. #cbizmhmwebinar 38
Elimination of Corporate Alternative Minimum Tax (AMT)
Tax credit carryforwards offset regular tax and become
refundable
• 50% of the excess minimum tax credit for 2017-2020
• 100% of the excess after 2021
AMT credits expected to be realized
may now be recorded as a receivable.
40. #cbizmhmwebinar 40
Deemed Repatriation Tax
US Converts from worldwide to territorial tax system
• 15.5% Tax on cash and cash equivalents; 8% tax on
illiquid assets for accumulated foreign earnings of:
• Controlled Foreign Corporation (CFC) > 50% US ownership
• Foreign entities with a 10% or greater US Corporate
ownership
• Tax is payable over eight years
• Do not impute interest
Disclose a 5-year maturity table?
41. #cbizmhmwebinar 41
The Assertion
The assertion of indefinite reinvestment of accumulated
undistributed earnings may still be necessary to avoid
recognized deferred taxes for items such as:
• Section 986(c) currency gains/losses
• Foreign withholding taxes
• State tax
42. #cbizmhmwebinar 42
Base Erosion Anti-Abuse Tax (BEAT)
In essence an alternative tax computed after removing
certain deductions for payments made to foreign
related parties
• No tax credit carryforwards
• Applies to corporations with annual gross receipts of
more then $500 million
Account for it like AMT
• It is a discrete item when BEAT applies
• Does not impact the tax rate for deferred taxes
43. #cbizmhmwebinar 43
Global Intangible Low-Taxed Income (GILTI)
Tax designed to reduce shifting of income to foreign tax
jurisdictions
• Applicable to net income of a CFC that exceeds a
defined rate of return
Account for it like Subpart F Income
• May result in deferred tax items
• Policy choice whether accounting for it in deferred
taxes is appropriate
45. #cbizmhmwebinar 45
Qualified Business Income Deduction
• New deduction is set at 20 percent of qualifying business
income received from a partnership, S corporation, or sole
proprietorship (effective rate of 29.6 percent for
individuals in maximum 37 percent bracket)
• Deduction is available to individuals, trusts, and estates
• Deduction (and any potential limitation) is determined at
the partner/shareholder/individual level
• Deduction cannot exceed 20% of the individual’s
(partner/shareholder/self-employed) adjusted taxable
income
• Adjusted taxable income excludes net capital gain
• Net losses are carried forward for computing subsequent
years’ QBI deduction
46. #cbizmhmwebinar 46
Qualified Business Income Deduction
• QBI:
• Domestic income (including Puerto Rico)
• From a qualified trade or business,
• Excludes investment income (interest income, most
dividends, capital gains, commodities gains, and foreign
currency gains)
• IRS to provide regulations with respect to the
determination of the deduction involving ownership
through tiered entities
• QBI does not include any amount paid by an S corporation
as reasonable compensation to an owner/shareholder, or
any amount that is a guaranteed payment for services
from a partnership
47. #cbizmhmwebinar 47
Qualified Business Income Deduction
• A qualified trade or business means any trade or business other than
• A “specified service trade or business”
• Health, law, consulting, athletics, financial services, brokerage
services, or any trade or business where the principal asset of
such trade or business is the reputation or skill of one or more
of its employees or owners, or
• Which involves the performance of services that consist of
investing and investment management trading, or dealing in
securities, partnership interests, or commodities
• Engineering and Architectural services are not included in
specified services, leaving them fully eligible for the deduction
• And the trade or business of being an employee
48. #cbizmhmwebinar 48
Qualified Business Income Deduction
• Limited to the greater of
• (a) 50 percent of W-2 wages (wages including bonuses,
elective deferrals, and deferred compensation), or
• (b) 25 percent of W-2 wages plus 2.5 percent of qualified
property (unadjusted basis of all tangible property held by,
and available for use in, a qualifying pass-through trade or
business)
• Eligible W-2 wages are allocated to shareholders and
partners in the same proportion as the original deduction
for such wages
• Qualified property is allocated to shareholders and
partners in the same proportion as the original deduction
for depreciation with respect to such property
49. #cbizmhmwebinar 49
Qualified Business Income Deduction
• Taxpayers below income levels are exempt from
• The 50 percent W-2 wage limitation,
• The 25 percent W-2 wages plus 2.5 percent qualifying
property limitation, and
• The specified service trades or businesses limitation
• Fully exempt: Taxable income less than $157,500
single / $315,000 MFJ
• Phased in: Between threshold amounts and $207,500
single / $415,000 MFJ
• The amounts are indexed for inflation
50. #cbizmhmwebinar 50
Qualified Business Income Deduction – Multiple Businesses
• IRS to issue regulations to address tiered entities, so
indirect ownership of a qualified business will not
prevent the deduction from applying
• Positive and negative QBI from different businesses
netted to determine the final QBI deduction and loss
carryover amounts for a given year
• Acting IRS Commissioner David Kautter promised
guidance by the summer, needed for
• Specified service trades or businesses
• W-2 wage limitation
• Parsing multiple trades or businesses issues
52. #cbizmhmwebinar 52
Business Interest Limitation
• For any type of entity, business interest deductions will be
limited to the sum of business interest income plus 30 percent
of adjusted taxable income (computed without regard to
deductions allowable for interest, depreciation, amortization,
depletion, net operating losses, and the pass-through entity
deduction)
• “Floor plan interest” incurred by automobile dealerships is
exempt from the limitation, but any taxpayer deducting unlimited
floor plan interest (this is required, not elective) is not eligible for
bonus depreciation on any property at all
• Businesses with average annual gross receipts for the prior
three taxable years that do not exceed $25 million are exempt
• Unused business interest expense can be carried forward
indefinitely
• Aggregation rules apply
53. #cbizmhmwebinar 53
Business Interest Limitation
• Real estate businesses can elect to not have the limitation
apply; such businesses include
• Real estate development, redevelopment, construction,
reconstruction, acquisition, conversion, rental, operation,
management, leasing, or brokerage;
• A real estate business conducted by a corporation or a REIT
is also included;
• The operation or management of a lodging facility, such as a
hotel, motel or a dormitory where sleeping accommodation
are provided
• An electing business must use ADS depreciation for its
non-residential real property, residential rental property,
and qualified improvement property
• Bonus depreciation is not available if ADS is used (§179 is
still available)
54. #cbizmhmwebinar 54
Accounting Impact
• Since disallowed interest can be carried forward
indefinitely a new indefinite lived deferred tax asset
may be created
• Indefinite lived deferred tax assets are still subject to
a valuation allowance
• Consider the four sources of income
56. #cbizmhmwebinar 56
Accounting Method Provisions – Cash Method of Accounting
• Cash Method of Accounting
• Before TCJA, denied to the following businesses:
• Businesses required to maintain inventories
• Tax shelters
• C corporations
• Partnerships with C corporation partners
• Permits eligible business to recognize income and deduct
expenses at the time the cash is received or paid
• For many businesses, the cash method provides
substantial tax benefits over the accrual method
• Accrual method — generally recognize income at the earlier
of the time revenue is due, paid, or earned through
required performance
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Accounting Method Provisions – Cash Method of Accounting
• Under TCJA, any taxpayer (including a C corporation)
meeting the income test is eligible to use the cash
method, even if the production, purchase, or sale of
inventory is an income-producing factor for the
business (subject to aggregation rules)
• The cash method is now available for all taxpayers
(other than tax shelters) with average annual gross
receipts over the prior 3 years of $25 million or less
• The $25 million threshold will also be indexed for
inflation
• New rule effective for tax years beginning after 2017
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Accounting Method Provisions – Cash Method of Accounting
• The manner in which the new gross receipts test is
determined has not changed from pre-tax act law
• Short tax years require annualization adjustments for
applicable gross receipts during the short year
• Taxpayers cannot circumvent the gross receipts test by
spreading out revenues over multiple entities
• Previous discussion for common control test applies to
determine required gross receipts aggregation with respect to
cash method eligibility
• Changes to adopt the cash method pursuant to the new
rules will be treated as a voluntary change in method of
accounting, and will permit taxpayers to include section
481(a) adjustments in the year of change
60. #cbizmhmwebinar 60
Use of Net Operating Losses
For taxable years ending after December 31, 2017 the
two-year carryback is repealed
Calendar year taxpayers can still can still carryback losses
arising in 2017
For losses arising in tax years beginning after
December 31, 2017 the loss is carried forward
indefinitely and the deduction is limited to 80% of
taxable income
Carryover NOL’s from tax years beginning before December
31, 2017 are not subject to the 80% limitation and will need
to be tracked separately
61. #cbizmhmwebinar 61
Excess Business Losses
• Starting in 2018, all non-corporate taxpayers
(including individuals, estates and trusts) may not
deduct net losses from trades or businesses in excess
of $250,000 ($500,000 for joint returns)
• Any excess business loss is converted to a net
operating loss carryover to the next year (which is
then subject to 80% of taxable income limits)
• The excess business loss provisions apply to the
aggregate of all
• Losses generated from sole proprietorships, and
• Losses allocated from interests in S corporations and
partnerships
63. #cbizmhmwebinar 63
Bonus Depreciation Rules
• Under the new law, bonus depreciation applies to new and used
qualified property (life less than 20 years) acquired after September
27, 2017. Used property now qualifies as long as it is the taxpayers
first use of the property.
• Bonus rates will vary based on when the property was acquired and
placed in service.
• For properties acquired before September 28, 2017, the current
bonus rules apply.
• For properties acquired after September 27, 2017, bonus rates will
be as follows:
Qualifying Assets
Placed in Service
09/28/17-12/31/22 100%
01/01/23-12/31/23 80%
01/01/24-12/31/24 60%
01/01/25-12/31/25 40%
01/01/26-12/31/26 20%
% Bonus Depreciation
in the first year
64. #cbizmhmwebinar 64
Bonus Depreciation Rules - Example
• For “used assets” placed in service after September 27, 2017 (Used assets not
eligible for bonus depreciation under old law)
• $5,000,000 depreciable assets
10% carve out to 5-year life ($500,000)
20% carve out to 15-year life ($1,000,000)
70% carve out to 39-year life ($3,500,000)
First year expense under old law:
Basis
$3,500,000
$1,000,000
$ 500,000
Classification
39 year
15 year
5 year
Depreciation
$ 89,744
$ 50,000
$ 100,000
$ 239,744
Basis Classification
39 year
15 year
5 year
Depreciation
$ 89,744
$ 1,000,000
$ 500,000
$ 1,589,744
First year expense under new law:
$1,350,000 increase deduction in year one
$3,500,000
$1,000,000
$ 500,000
65. #cbizmhmwebinar 65
§179 Provisions
• The §179 deduction was increased to $1 million per year and
phases-out for qualifying property exceeding $2.5 million
• Section 179 expensing now applies to roofs, HVAC’s, fire
protection and alarm systems, and security systems of non
residential property.
• It also applies to property used for lodging purposes, i.e., where
sleeping accommodations are provided (such as hotels, motels
and dormitories), to Qualified Improvement Property and
tangible personal property used in any trade or business.
• As a result of the bonus depreciation provisions, the § 179
provisions are made largely irrelevant; however, certain real
property improvements not eligible for bonus depreciation are
eligible under § 179
67. #cbizmhmwebinar 67
If You Enjoyed This Webinar…
Upcoming Courses:
• 5/2: Case Studies in Cybersecurity - A Primer for Not-for-Profits
• 5/15: Eye on Washington: Quarterly Business Tax Update
• 6/6: Key International Tax Considerations
• 7/2: Second Quarter Accounting and Financial Reporting Issues Update
Recent Publications:
• Reasons Why Private Companies May Want to Early Adopt the Definition of a
Business Standard
• Public Companies Should Prepare for Cybersecurity Disclosures
• The Impact of the New Tax Law on Real Estate Investment
• How U.S. Tax Reform Affects International Tax Considerations
• How Adopting the New Revenue Recognition Guidance Could Lead to a Big Tax
Bill
68. #cbizmhmwebinar 68
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