Regulatory Alerts (All)
MA DOR Announces Tax Amnesty 2016
AAFCPAs would like to make you aware that the Massachusetts Department of Revenue (DOR) has recently announced a 2016 Tax Amnesty Program, open to all individuals and businesses who have not filed all Massachusetts tax returns, or have underreported taxes on previously filed returns. The tax amnesty program is a limited-time opportunity, and allows taxpayers […]
FASB Decisions Regarding NFP Financial Statements Project from March 2 Meeting
The Financial Accounting Standards Board (FASB) continued its Phase 1 deliberations at its March 2nd, 2016 Board Meeting on the proposed FASB Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. Significant Decisions Made at the Board’s March 2016 Meeting: The proposed ASU would […]
Stock Compensation, Accounting for Share-Based Payments
Many entities compensate their employees, not by “cash salary,” but rather by using equity awards, commonly in the form of what is referred to as “stock compensation.” The amendments in Accounting Standards Update 2014-12 – Compensation – Stock Compensation (Topic 718), apply to all reporting entities that grant their employees share-based payments in which the […]
AAFCPAs’ Update on Decisions Reached in FASB NFP Financial Statements Project
The Financial Accounting Standards Board (FASB) continued its Phase 1 deliberations at its February 3, 2016 Board Meeting on the proposed FASB Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. Significant Decisions Made at the Board’s February 2016 Meeting: The proposed ASU […]
FASB’s Technical Agenda for NFP Financial Statements Project Organized in Two Phases
AAFCPAs would like to make you aware of the two phases that comprise the technical agenda for FASB’s Nonprofit Financial Statement Project. On April 22, 2015, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) entitled Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of […]
The MA Attorney General Launches Online Payment System (ePay) to Accept Fees from Charities
The Massachusetts Office of the Attorney General (AGO), Division of Public Charities office has announced the launch of its statewide, online payment system to accept annual filing fees from registered charities. Any public charity that is registered with the AGO and has an Attorney General Number may now use the ePay site to remit their […]
AAFCPAs’ Update on Decisions Reached in FASB NFP Financial Statements Project
The Financial Accounting Standards Board (FASB) is evaluating 263 comment letters, including feedback from AAFCPAs, as part of their invitation to stakeholders for review and input on the proposed Accounting Standards Update (ASU) entitled Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. As part of its […]
AAFCPAs Warns of Several Recent Phone Scams
Some members of our network may be more trusting than others, therefore, we want to take a moment to alert all of you to recent scams that are unfortunately causing frustration to some. Please be aware of the following: National Grid Reminds New England Customers of Payment Scam National Grid electric customers have received telephone […]
FASB Issues Standards for Recognition and Measurement of Financial Assets and Liabilities
AAFCPAs wants to alert you to this change from the Financial Accounting Standards Board (FASB). In their effort to provide users of financial statements with more useful information on the recognition, measurement, presentation, and disclosure of financial instruments, on January 5, 2016 the FASB issued a new Accounting Standards Update (ASU) No. 2016-01, Financial Instruments, […]