News & Resources

How Auditors Assess Cyber Risks

  Data security is a critical part of the audit risk assessment. If your financial statements are audited, your audit team will tailor their procedures to answer critical questions about cyber risks and the effectiveness of your internal controls. While

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Waiver of Payroll Deposit Penalties

  The IRS announced on April 13, 2021 the penalty relief provided by Notice 2020-22 to apply to deposits of employment taxes reduced in anticipation of the following credits has been extended: Paid sick and family leave credits under the

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HHS Provider Relief Fund Update 5

  All recipients of Provider Relief Fund (PRF) payments must comply with the reporting requirements as set by the Department of Health and Human Services (HHS). At this time you only need to complete the registration. Once further guidance is

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Making Sense of Your Statement of Cash Flows

  The statement of cash flows essentially tells you about cash entering and leaving a business. It’s arguably the most misunderstood and underappreciated part of a company’s annual report. After all, a business that reports positive net income on its

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How to Compute Your Company’s Breakeven Point

  Breakeven analysis can be useful when investing in new equipment, launching a new product or analyzing the effects of a cost reduction plan. During the COVID-19 pandemic, however, many struggling companies are using it to evaluate how much longer

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Reporting Restricted Cash

  Your company’s financial statements should be transparent about any restrictions on cash. Are your reporting practices in compliance with the current accounting guidance? The Basics Restricted cash is a separate category of “cash and cash equivalents” that isn’t available

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Restaurant Revitalization Fund

  The U.S. Small Business Administration (SBA) is targeting early April to launch a phased rollout of the $28.6 billion Restaurant Revitalization Fund (RRF), a senior SBA official testified during a Senate Small Business Committee hearing. The American Rescue Plan

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