A huge sigh of relief could be heard when the Financial Accounting Standards Board (FASB) voted to approve a one-year deferral of the effective date of the new lease accounting standard for nonpublic companies. The one-year deferral comes at a time when most private companies and nonprofits are still working to comply with implementation of [...]
CRI Partner Debbie Goode recently participated as one of 7 panelists for a student roundtable hosted by the local chapter of the Institute of Internal Auditors at Florida Information Technology Business School. This discussion was a Q & A session to present to the FIT Master in Accounting and Financial Forensics students about careers in [...]
CRI Partner Robert Miller recently presented at the 2019 Alabama Realtors Annual Meeting. During the presentation to realtors from across Alabama, he covered entity selection for tax purposes.
CRI Partner Tim Gruters presented The Basic Components of the Annual Financial Report at this year's FGFOA School of Government Finance. This session provided an overview of the Annual Financial Report and its components. Additionally, Timothy covered what is required in the MD&A, notes, RSI and the statistical sections.
If you have ever looked at a Medicare Cost Report (MCR), you likely cringe at the thought of having to fill out copious amounts of forms and data. If the sheer volume doesn’t faze you, the pressure to produce a comprehensive and entirely accurate report is enough to make most healthcare providers a little uneasy. [...]
CRI Partner Scott Bailey was recently featured on the Williams Mullen Benefits Companion Podcast. He and host Brydon DeWitt discuss captive insurance arrangement strategies. You can listen to this podcast on Apple Podcasts, Spotify, Google Play, and Stitcher.
CRI Partner Sam Clark is speaking at the 2019 Georgia Construction Finance Conference on November 13, 2019, at the Cobb Energy Performing Arts Center. The program will cover revenue recognition, income tax reform, and more. During the program, Sam's presentation will discuss the new lease accounting standard and how it affects contractors.
On October 17, 2019, the Federal Financial Institutions Examination Council (FFIEC) issued the much-anticipated proposed draft Interagency Policy Statement on Allowance for Credit Losses (ACLs). The agencies issued the draft in response to changes in the accounting for credit losses under the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 326 (most commonly [...]
GASB 84, Fiduciary Activities, has been released and is now effective for reporting periods beginning after December 15, 2018. This standard will have a large impact on agency funds—an element of government that often has less emphasis on effective financial controls. The implementation of GASB 84 will hopefully cause governments to address any weaknesses in [...]
CRI's Chad Branson will host a session at the 2019 Florida Governmental Finance Officers Association School of Governmental Finance. His session, entitled "Protecting Your Entity from Fraud and Misappropriation of Assets," will identify the key program areas and processes within government entities that are most at risk for fraud and misappropriation of assets including physical [...]
CRI Partner Doug Mims will moderate a CECL panel at the third annual Institute of Internal Auditors Atlanta Chapter's 2020 Financial Services Conference. This roundtable, entitled "It's Never Too Early to Start Thinking About CECL," will cover lessons learned and best practices from a variety of perspectives. Panelists include top professionals from accounting, lending, regulatory [...]
We are very proud to announce that our Managing Partner, Bill Carr, has been selected as part of the inaugural Yellowhammer 15 Class of 2019. The preeminent honor is for those in the private sector that are moving Alabama forward through job creation, economic impact, community involvement and philanthropic endeavors.
Captive insurance companies have continued their march to the mainstream in recent years as more and more companies look for risk management solutions. As these companies begin taking advantage of captive benefits, they must remember that captives are insurance companies and proper governance is paramount. In doing so, the composition and operations of a captive [...]
The opportunity zone incentive created by the 2017 tax law has generated a lot of interest in the business community. The tax benefits can be significant for investors who follow the process detailed in the statute, but owners who want to use the incentive to grow a manufacturing business need to understand that it takes [...]
CRI Partner AJ Bowers is presenting at the Public Trust Advisors 2019 Public Finance Workshop on October 17, 2019, at the Hotel Parq Central. AJ's presentation will cover GASB 84, Fiduciary Activities. He will discuss the process for making the determination, provide examples of administrative and direct financial involvement, and review fiduciary fund types.
Carr, Riggs & Ingram Houston would like to congratulate Tram Nguyen on recently passing the Certified Anti-Money Laundering Specialist (CAMS) exam. We are proud to have you on the CRI team!
CRI Partners Brian Barksdale and Jason Harpe will present at the Alabama Society of CPAs Governmental A&A Forum on December 5, 2019. They will cover the new treatment of leases in governmental entities that can have a significant impact on the financial reports. The presentation will review the accounting requirements as well as reporting and [...]
CRI Partner AJ Bowers will host a session at the New Mexico Association of School Business Officers' 2019 Fall Conference on September 19, 2019. This session starts with an in-depth description of internal controls as they relate to the COSO Framework. He will then examine a case study and explore what internal controls should have [...]
The Financial Accounting Standards Board (FASB) issued ASC 606, Revenues from Contracts with Customers, which replaced all previously-existing guidance and created a new model for recognizing revenues from transactions with customers (or patients). Healthcare providers are unique in the accounting world in many ways, most notably for the complexities surrounding the revenue cycle (billing and [...]
CRI Partner David Sietsma will participate in a panel discussion as part of the Charitable Gift Planners of Tampa Bay Lecture Series. This panel will review what a Donor Advised Fund is, who they are appropriate for, and how to best utilize it as part of overall wealth and gifting strategy. This panel will take [...]
