HKFS Planning Strategies: Proposed Changes to IRA Rules
There are three major changes to IRAs currently being proposed in the legislature. You will want to talk with your financial advisor about these changes to make sure you have [...]
GASB Issues Fiduciary Activities Implementation Guide
The Governmental Accounting Standards Board (GASB) recently issued a new implementation guide regarding standards on accounting and financial reporting for fiduciary activities. Implementation Guide No. 2019-2, Fiduciary Activities, is a [...]
Is Your CPA Firm “Tuned In” to CPB’s Audit Requirements?
When funding sources dry up for higher education entities, public television and radio stations must rely more on listener support and grant funding from the Corporation for Public Broadcasting (CPB). [...]
New Lease Standards – Clarifying the Differences in FASB vs. GASB
In early 2016, the Financial Accounting Standards Board (FASB) issued an updated lease accounting standard. The new standard, ASC 842, requires entities that lease property or equipment through operating leases [...]
I’m Not Your Friend—I’m a PAL! Passive Activity Loss Rules Explained
Imagine that you’ve put a significant amount of money into your business or real estate property. Now imagine that it generates loses in the first few years of operations… yet [...]
Avoid the Snafus of Student Financial Aid Regulations
It’s no secret that the regulatory framework surrounding student financial aid can be one of the most difficult to navigate. As a result, many institutions could have unaddressed compliance issues [...]