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Ideas & Insights

 





Insight Article

2021 Saver’s Credit

Individuals may be eligible for a valuable incentive to reduce federal income tax liability for contributing to a 401(k) plan.



Financial Reporting Insights

Early adoption of ASU 2020-06

We have updated our white paper to discuss the interaction of Subtopic 815-40 with the SEC’s guidance on redeemable securities.



Financial Reporting Insights

ESG reporting and attestation engagements

A recent publication provides information about reporting ESG information in SEC submissions and related attestation engagements.


Financial Reporting Insights

IASB amends IAS 1 and IAS 8

The International Accounting Standards Board has issued narrow-scope amendments to IAS 1, IAS 8 and IFRS Practice Statement 2.




Insight Article

Understanding revenue sharing

Learn the importance of discussing with a plan advisor how best to customize plan fees based on circumstance and available options.



Insight Article

Cybersecurity issues for plan sponsors

The Department of Labor is working on guidance addressing cybersecurity issues as they relate to plan sponsors and third-party providers.





Financial Reporting Insights

Proposed quality management standards

The Auditing Standards Board has issued three proposed new standards for quality management at the firm and engagement levels.


















Financial Reporting Insights

Deferred tax asset valuation allowance

Our article discusses weighting evidence in discerning whether a valuation allowance should be recognized for deferred tax assets.


Financial Reporting Insights

Gaming Audit and Accounting Guide

The American Institute of Certified Public Accountants Audit and Accounting Guide, Gaming, was recently updated.


Financial Reporting Insights

SEC disclosure guidance for SPACs

The SEC recently provided its views about certain disclosures for SPAC IPOs and subsequent business combination transactions.









Financial Reporting Insights

Audit & Accounting Guide:

An updated AICPA guide addresses the unique aspects of the preparation and auditing of financial institution financial statements.



Financial Reporting Insights

GASB proposes implementation guidance

The GASB recently released a proposed implementation guide to address a wide array of practice issues related to GASB Statements.














Financial Reporting Insights

Proposed updates to ASC 842

The FASB recently proposed amendments to address certain issues arising from the adoption of the leases standard.



Financial Reporting Insights

2020 Effective Date Reminder

Our annual Effective Date Reminder lists pronouncements issued as of Nov. 1, 2020, which became effective on or after Jan. 1, 2020.


Financial Reporting Insights

FASB Codification improvements

A recent FASB ASU makes minor technical corrections and clarifications to the Accounting Standards Codification.













Article

The board's role in change management

The Covid-19 pandemic, economic uncertainty and significant social­ unrest have brought waves of change not seen in more than a century.












Financial Reporting Insights

Amendments: Interest rate benchmark reform

The IASB’s recent amendments address the transition to alternative interest rate benchmarks as a result of benchmark reform.









Financial Reporting Insights

Regulatory update for broker-dealers

Our summary highlights several regulations affecting broker-dealers that recently have been issued or updated.

  • Seitz, Kate
  • |

Financial Reporting Insights

OMB issues 2020 Compliance Supplement

The OMB recently released the 2020 Compliance Supplement, which is effective for audits of years beginning after June 30, 2019.

























Financial Reporting Insights

IASB issues amendments to IFRS 17

The International Accounting Standards Board recently released several amendments to IFRS 17, Insurance Contracts.







Insight Article

The intersection of ESG and risk assessment

What role can the board of directors play in the multifaceted ESG arena? ESG is more than an acronym that stands for a trio of concerns.

  • Deiso, Phyllis
  • |






Financial Reporting Insights

TQA: Borrower accounting for PPP loans

The AICPA recently released guidance regarding the accounting for a loan received under the Paycheck Protection Program.






Financial Reporting Insights

Audits involving cryptoassets

The PCAOB recently published information for auditors and audit committees regarding audits involving cryptoassets.



















Financial Reporting Insights

GASB issues implementation guidance

The GASB recently issued Implementation Guide No. 2020-1, which clarifies, explains or elaborates on recent GASB Statements.








White Paper

Fundamentals of Debt Classification

Borrowers are taking a look at the factors that led them to classify debt as current or noncurrent when preparing a classified balance sheet

















Financial Reporting Insights

IFRS 9 and COVID-19

Recently, the IASB issued guidance regarding the accounting for expected credit losses in light of the COVID-19 pandemic.











Insight Article

Simplify your lease accounting

Visual Lease’sbest-in-class lease accounting software automates financial reporting associated with ASC 842 and IFRS 16.




Recorded Webcast

Accounting and auditing of digital assets

Join our webinar where we will dig deeper into the recently released AICPA guidance on accounting and auditing of digital assets.

  • Schulman, Jay
  • |







Financial Reporting Insights

Lease accounting resource center

RSM’s Lease Accounting Resource Center provides high-level and detailed information about implementing ASC 842.












Financial Reporting Insights

Credit losses: FASB codifies SAB 119

The Financial Accounting Standards Board recently added Staff Accounting Bulletin 119 to its Accounting Standards Codification.


Financial Reporting Insights

GASB issues omnibus statement

A recently issued GASB Statement includes guidance addressing various accounting and financial reporting issues.





Financial Reporting Insights

Reviews, compilations and preparations

Recently issued SSARS 25 addresses materiality in a review of financial statements and adverse conclusions, among other matters.

















Insight Article

Sarbanes-Oxley: What's trending in 2020

Trends and changes you need to be aware of in the SOX 404 landscape. Get ahead of the shifting expectations for 2020.

  • McCarthy, Kristen
  • |








Financial Reporting Insights

IAASB enhances and modernizes ISA 315

The IAASB recently issued a revised standard, ISA 315, for identifying and assessing risks of material misstatement.










Insight Article

The Libor countdown—are you ready?

Concerns have been raised that replacing Libor with an alternative reference rate may trigger a number of challenges.

  • Gaiso, Michael
  • |



Recorded Webcast

Blockchain for boards

Learn how boards can best understand blockchain, how to utilize in their organizations, and what types of efficiencies it can provide.

  • Schulman, Jay
  • |


Financial Reporting Insights

SEC Staff Accounting Bulletin No. 119

SAB No. 119 includes SEC staff interpretations regarding policies and procedures for developing CECL models and related matters.


Financial Reporting Insights

Proposed Codification improvements

The Financial Accounting Standards Board recently proposed changes to clarify, and make minor improvements to, the Codification.






Financial Reporting Insights

2019 Audit Committee Transparency Barometer

A recent publication by the CAQ and Audit Analytics gauges how audit committees approach communication of oversight activities.






















Insight Article

Latest updates for federal grants management

The world of federal grants management is always changing. Read RSM’s update to understand how changes may affect your organization.

  • Sneeringer, Tom
  • |











Financial Reporting Insights

Proposal: Auditing accounting estimates

The Auditing Standards Board recently issued a proposed SAS, Auditing Accounting Estimates and Related Disclosures.












Financial Reporting Insights

PCAOB audit committee resource: CAMs

The PCAOB recently released insights for audit committees regarding the auditor’s communication of critical audit matters.




Financial Reporting Insights

GASB proposes omnibus statement

In July, the GASB issued an Exposure Draft to propose guidance addressing various accounting and financial reporting issues.




Financial Reporting Insights

Transitioning away from LIBOR

The FASB has added a project to its agenda to address accounting changes necessitated by reference rate reform.










Financial Reporting Insights

Proposed revisions to SSARS

A recent proposed SSARS addresses materiality in a review of financial statements, adverse conclusions and other issues.


Financial Reporting Insights

Proposed SAS on audit evidence

A recent proposed SAS discusses the evaluation of audit evidence and the use of automated tools and techniques.





Financial Reporting Insights

Updated guide to revenue recognition

We have issued an updated version of our guide to revenue recognition to reflect recent activities of the FASB, AICPA and SEC.








Recorded Webcast

ASC 842 lease accounting in NetSuite

Join us to learn how ASC 842 changes accounting requirements and how to capture required information and calculations in NetSuite.




Financial Reporting Insights

PCAOB guidance on communication of CAMs

Recent PCAOB guidance focuses on questions that may arise when the auditor is communicating critical audit matters under AS 3101.


Financial Reporting Insights

External auditor assessment tool updated

The Center for Audit Quality has released an updated tool to assist audit committees in the assessment of the external auditor.


Financial Reporting Insights

PCAOB staff guidance on Rule 3526(b)

The PCAOB staff recently provided guidance regarding how auditors are to comply with certain provisions of Rule 3526.








Financial Reporting Insights

ASB issues auditor reporting standard

A recent standard provides changes to the format of and verbiage used in the auditor’s report for audits of nonissuers.


Article

Are your leaders ready for change?

The board can foster a leadership team that is ready for strategic shifts that drive stakeholder value and may be fundamental to survival.

  • Deiso, Phyllis
  • |

Recorded Webcast

Revenue recognition update

Join RSM for a revenue recognition standard (ASC 606) update for business and professional services companies.


Recorded Webcast

The evolution of retirement plans

Learn about the latest investing trends, the rationale behind them and best practices to building an investment menu for your employees.











Recorded Webcast

Is your board ready for change management?

Board members are crucial in evaluating business objectives and executive suite initiatives. Is your board equipped for change management?









Insight Article

SEC crackdown on cyberfraud looms large

After new SEC guidance, companies should evaluate cybersecurity risk and prevention processes to avoid potential enforcement actions.

  • Weidenhamer, Andrew
  • |


Insight Article

3 lessons learned while implementing ASC 842

What can automotive manufacturers and suppliers learn from companies that have already implemented the new lease accounting standard?

  • McLaughlin, Kristin
  • |









On Demand Webcast

Governmental lease accounting

Get the latest information on the new Governmental Accounting Standards Board lease standard that could affect public sector organizations.

  • Horaney, Michelle
  • |



Insight Article

Adopting ASC 842 can improve efficiency

Companies are realizing increased efficiencies and mitigating the costs of investments made in adopting ASC 842, lease accounting standard.

  • Vanlandingham, Scott
  • |






Recorded Webcast

New lease accounting standards

Join RSM for a complimentary webcast on Dec. 6 to understand the new guidelines and how it will affect your business.


Recorded Webcast

Getting lease compliance right

RSM and Tango will share the top lessons they have learned working with customers across all industry sectors in this webcast.



Insight Article

Cybersecurity: not ours-theirs

Board oversight must expand beyond company boundaries to consider procedures the of professional service firms with access to data.

  • Deiso, Phyllis
  • |










Insight Article

Performing a retirement plan self-checkup

Employers have an opportunity to make a difference. How can they make sure their retirement plan is healthy and in compliance?

  • Carroll, Eric
  • |





Insight Article

Retirement plan operational compliance

The third in a series of articles on internal controls for employee benefit plans, focusing on plan operational compliance controls.

  • O’Malley, Bill
  • |



Recorded Webcast

Retirement plan self-checkup

Insights on the latest plan options and how to evaluate and ensure you are getting the most out of your retirement plan.

  • Carroll, Eric
  • |





Article

Looking at the new employee loyalty theory

While talent management is multi-faceted, there's often significant factors affecting employee loyalty that may have strategic implications.

  • Deiso, Phyllis
  • |





Insight Article

The agile board of directors

Boards should not only focus on complying with regulations, but also consider the perceptions of the investment community.

  • Deiso, Phyllis
  • |


Recorded Webcast

Revenue recognition webcast

Join RSM as we share insights on how the new revenue recognition standard (ASC 606) affects the business and professional services industry.

  • Murphy, Chris
  • |

Recorded Webcast

Retirement planning: What's trending

RSM provides an update on the current state of employer sponsored retirement plans including trends and best practices.

  • Mattia, Joe
  • |






Recorded Webcast

Are you ready to adopt ASC 842?

This webcast will highlight key steps and best practices for implementation of new lease accounting standard (ASC 842).



Recorded Webcast

2018’s impact on your corporation

An executive briefing for corporate leaders, audit committee and board members addressing key financial and governance issues for 2018.

  • Deiso, Phyllis
  • |

White Paper

Simplifying the test for goodwill impairment

Our white paper includes information about the simplified goodwill impairment test, which no longer requires Step 2 to be performed.

  • Dombrowski, Robert
  • |