Tag Archives: accounting

BEST PRACTICES IN SUBRECIPIENT RISK ASSESSMENTS AND MONITORING FOR FEDERAL GRANT RECIPIENTS

Subrecipient risk assessments and monitoring are critical aspects of federal grants management. These practices ensure that funds are used in accordance with federal regulations, that grant objectives are met and that the risk of fraud, waste and abuse is minimized. The federal government has set forth guidelines in the Uniform Administrative Requirements, Cost Principles, and Read More…

IRS EXTENDS INDIVIDUAL, BUSINESS & PAYROLL TAX FILING DEADLINES FOR HURRICANE IAN VICTIMS

On September 29, 2022, the IRS issued news release 2022-168 regarding Hurricane Ian. This release  extends all tax return filing and tax payment deadlines starting on September 22, 2022 for individuals and business located in any area designated by the Federal Emergency Management Agency (FEMA), until February 15, 2023.   As of this date, all counties Read More…

CULTURE OF LEARNING AT BKC

Here @BKCCPAs, we work hard to foster a supportive and encouraging culture of learning as a key benefit to our employees. Our professionals gain valuable knowledge & build confidence, with exposure to diverse clients and specialty services, and state of the art technology, which help them grow professionally. In addition to extensive in-person and virtual continuing Read More…

HOW TO ENSURE YOUR FUNCTIONAL EXPENSE ANALYSIS ACCURATELY DEPICTS YOUR ACTIVITIES

By: Amy Guerra, CPA The financial statement presentation for not-for-profit entities (NFP) experienced an overhaul with Accounting Standards Update (ASU) 2016-14, “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.”  Prior to the ASU, only voluntary health and welfare organizations had a requirement to include the statement of functional expenses as part of Read More…

THE GREAT EXPERIMENT: REMOTE WORK AND THE NEW REALITY OF REAL ESTATE

There’s no question the global pandemic of 2020 quickened trends of the future that were hitting the wall of the present: Employers resistant to allowing employees to work remotely suddenly had no choice as localities enacted mandatory stay-at-home measures. Businesses migrated to remote work on an unprecedented scale – a great experiment, the ripple effects of which are many for real estate.  As parts of the business world adjust to working from home, some are finding multi-year office Read More…