Although related party transactions aren’t necessarily bad, they do raise some concerns about the risk of misstatement or omission in financial reporting.
The Tax Cuts and Jobs Act eliminated the deduction for any expenses related to activities that used to be considered entertainment, amusement or recreation.
MBE CPAs announced today that their Baraboo office will be relocating early this Fall. Their new premises will be at E10890 Penny Ln, Baraboo, WI (formerly Accelerated Genetics).
A new accounting standard goes into effect starting in 2018 for churches, charities and other not-for-profit entities.
Under U.S. Generally Accepted Accounting Principles (GAAP), there are strict rules on when to recognize revenues and expenses.