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Updated Guidance for Impairment Testing: When to Consider Triggering Events

April 6, 2021

On March 30, the Financial Accounting Standards Board (FASB) published an updated accounting..

Making Sense of Your Statement of Cash Flows

March 23, 2021

The statement of cash flows essentially tells you about cash entering and leaving a business. It’s..

Worldwide Interest Allocation for Foreign Tax Purposes Nixed as Part of American Rescue Plan Act of 2021.

March 8, 2021

If a tree falls in the forest and no one is around to hear it, does it actually make a sound?..

Brutal Results for Foreign Corporation That Failed to File US Tax Returns

March 2, 2021

US Tax Court disallows all deductions for UK company operating in the US on the Outer Continental..

How to Compute Your Company's Breakeven Point

February 10, 2021

Breakeven analysis can be useful when investing in new equipment, launching a new product or..

LB&I Division Extends Relaxed Document Request Guidelines

February 9, 2021

Continued suspension of IDR procedures offer you additional time to respond to an agent’s request..

Footnote Disclosures: The Story Behind the Numbers

February 4, 2021

The footnotes to your company’s financial statements give investors and lenders insight into..

How Are COVID-19 and a PFIC Similar?  Nobody Wants Either One!

February 2, 2021

If you have invested in any foreign corporations, you may be aware that you want to avoid having..

Assessing and Mitigating Key Person Risks

January 20, 2021

Auditing standards require a year-end risk assessment. One potential source of risk may be a small..

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