ASC 740: Income Tax Accounting Impact of New Texas Franchise Tax Rate on Financial Statements

July 28, 2015

On June 15, 2015, Texas Governor Greg Abbott signed into law House Bill 32, the Franchise Tax Reduction Act of 2015. This legislation permanently reduces the Texas Franchise Tax rate by 25 percent.

Cyber Risk Protection and Prevention

July 27, 2015

July 27, 2015 Install and keep up to date malware and anti-virus software on the organization’s assets. Laptops, desktops, and smartphones that are allowed to connect to the internal network, can be attacked with viruses due to users unknowingly installing infected software. There are security solutions to protect companies from known and unknown malicious software.

FASB Issues Update on Simplifying Inventory Measurement

July 24, 2015

The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU), Inventory (Topic 330): Simplifying the Measurement of Inventory. The amended rules were issued as part of its broader simplification initiative. An indirect result of the Accounting Standard Update was to align inventory measurement under U.S. Generally Accepted Accounting Principles (GAAP) more closely with International Financial Reporting Standards (IFRS).

Hein & Associates names Jeremy King as Principal as of July 1, 2015

July 23, 2015

July 23, 2015 Denver, CO- Hein & Associates LLP, a leading accounting and advisory firm announced that as of July 1, Jeremy King will take on the role of Principal and will continue to lead the Cloud Solutions Practice for the firm. “Jeremy has been instrumental to the development of our Cloud Solutions practice, and his

Looking for Cost Recovery Opportunities

July 16, 2015

July 16, 2015 Recovering Costs Hidden in Plain Sight Businesses today rely on contracts with suppliers and partners to maintain the flow of materials and services necessary to create and deliver their products or services to market. Executives and attorneys may spend hours, days, or even weeks negotiating the terms of a contract, but the

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