Authored by: John Robichaud, CPA, CITP, CIA, CISA
COSO is Exploring Updates to an Array of Relevant Topics
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently said it plans to release its updated Internal Control–Integrated Framework (Framework) during the first quarter of 2013. The revised Framework is intended to help organizations improve performance with greater agility, confidence and clarity, and enable organizations to “adapt to increasing complexity and pace of change; to mitigate risks to the achievement of objectives; and to provide reliable information to support sound decision-making”.
enterprise risk management,
Businesses Selling SaaS Services and Products are Facing Uncertainty Over the Taxation of Their Income
Cloud computing technology is playing an expanding role in our technology-driven economy, but no state has issued direct guidance on the taxation of income earned from a cloud computing model. Businesses employing this rapidly growing model are facing uncertainty over the taxation of their income and at the same time, state fiscal concerns create incentives for states to analyze the cloud computing environment for additional tax revenue.
factor presence nexus
Goodwill Impairment Testing can be Qualitative or Quantitative, but Your Business Should Have a Good Explanation for the Former
Goodwill by accounting standards represents the value of a business above and beyond just its financial and physical assets. Many times the business' intangible values are tracked as goodwill, such as the business' good reputation which generates sales by referral. Measurement of goodwill impairment is a two part test that measures the fair value of a Company’s reporting unit to the reporting unit’s carrying value. The fair value of the reporting unit in the majority of cases is measured with a full-blown business valuation analysis.
Tests for Impairment of Goodwill,
Author: Dyan Reinhold
5 Key Changes – and a Checklist for Pinpointing Problem Areas
While it’s true that this year there have only been modest changes to accounting standards it’s still important to make sure that your financial statements are clear and thorough. However, there are still five key changes you’ll need to address.
Uncertain Income Tax Positions,