With the rollout of COVID-19 vaccines, public accounting firms and other employers are watching and waiting, determining how far they can go in encouraging staff to be vaccinated. RubinBrown LLP, a large public accounting firm with offices in six U.S. cities, has taken a path typical of professional service organizations: It is providing support and […]

The most common question we used to get was, “What is the current multiple for accounting firm deals?” Now the question is “Is the marketplace for M&A a buyer’s or seller’s market?” The answer, simply stated, is “Yes” — though much depends on the target firm’s makeup, metrics, location, bench strength, opportunities in the client […]

In a memorandum dated April 15, 2021, the IRS announced it was extending the authorization to electronically sign a large number of IRS forms until Dec. 31, 2021, and adding a number of new forms. The original authorization was from Aug. 28 through Dec. 31, 2020. Due to the ongoing public health crisis, that period […]

Federal prosecution of a depository institution providing banking services to a legitimate cannabis business would be prohibited under a bill that passed the U.S. House of Representatives on Monday by a 321–101 vote. H.R. 1996, the SAFE Banking Act of 2021, also includes protections from prosecution for “ancillary services” to legitimate cannabis businesses that is […]

Far from the black-and-white world that many outside a company’s accounting function imagine, gray can be accounting’s primary color. That’s because many accounting questions are complicated, and there’s often a high degree of judgment required when applying the rules.  Documenting complex transactions and the related accounting conclusions can be extremely challenging given today’s standards for […]

The Restaurant Revitalization Fund (RRF) relief program application portal will be tested in a seven-day pilot period ahead of the application launch, the U.S. Small Business Administration (SBA) announced as it revealed key details of the program. Following the pilot, the application portal will be opened to the public, although the official application launch date […]

The Securities and Exchange Commission’s increasing scrutiny of special purpose acquisition companies and guidance on how to account for warrants are slowing deal activity for firms. Last week, the SEC issued a staff statement on the accounting and financial reporting considerations for SPACs, also known as “blank-check companies.” The SEC basically said that warrants, which […]

When accounting for Paycheck Protection Program (PPP) loans, for-profit entities may wish to apply the conditional contribution method that has been more commonly associated with not-for-profits’ PPP accounting. According to AICPA Technical Question and Answer guidance, when the PPP’s eligibility and loan forgiveness criteria are expected to be met, a for-profit could account for a […]

When accounting for Paycheck Protection Program (PPP) loans, for-profit entities may wish to apply the conditional contribution method that has been more commonly associated with not-for-profits’ PPP accounting. According to AICPA Technical Question and Answer guidance, when the PPP’s eligibility and loan forgiveness criteria are expected to be met, a for-profit could account for a […]