VTD February 2018 Newsletter
Big Accounting Rule Changes Coming Soon
Are you ready to implement the updated guidance for reporting revenue, leases and credit losses? Over the next few years, companies that follow U.S. Generally Accepted Accounting Principles must significantly change how they report these transactions on their financial statements. In addition, the accounting rules for not-for-profits will be overhauled in 2018. Here’s an overview of what you should know.
Accounting & Auditing: Taxes, Cybersecurity, Internal Controls
To direct owners and executives on the latest accounting and auditing developments, this issue includes the following articles:
1. Tax Cuts and Jobs Act: Will FASB provide relief from reporting taxes under the new law?
2. Disclosing cybersecurity risks.
3. New standards highlight the importance of strong internal controls.
Large Employers: What Are the Deadlines for Forms 1094-C and 1095-C?
As an applicable large employer (ALE) with a fully insured health plan, what forms do you need to complete to report to the federal government about health coverage? When do you need to file these forms with the IRS? There are several requirements for large employers, as described in this article.
Business Without Borders
Exporting could be the answer for your manufacturing company. There’s no doubt business has gone international. However, foreign trade creates many challenges, as well as potential benefits. Here are some resources for more information.