Services Assurance Accounting & Audit Alert November 2020

Accounting & Auditing Alert November 2020

RubinBrown's Accounting & Auditing Alert is published monthly to inform our clients and contacts about relevant technical accounting and audit-related information.

11/02/2020

FASB Issues Proposal To Simplify How Private Company Franchisors Evaluate Certain Performance Obligations

In September 2020, the FASB issued an Exposure Draft for public comment that is intended to ease the potential accounting burden on private company franchisors.

11/02/2020

FASB Issues Guidance On Presentation and Disclosures By Not-for-Profit Entities For Contributed Nonfinancial Assets

The FASB has recently issued ASU 2020-07, Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. Prior to ASU 2020-07, there were no specific disclosure requirements for contributed nonfinancial assets other than for contributed services.

^{Readers should not act upon information presented without individual professional consultation.}

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Events & Seminars

Dec

2020

Tax Year-End Update - Webinar

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Dec

2020

Accounting & Auditing Year-End Update - Webinar

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Dec

2020

1099 Form Update - Webinar

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E-Focus Newsletters

11/19/2020

Focus on Entrepreneurial Services: Update to Form 1099

As if 2020 hasn’t brought enough changes, the Internal Revenue Service has also provided a change to the 1099-MISC form.

11/02/2020

Focus on Healthcare: Phase 3 General Distribution from the Provider Relief Fund – November 6 Deadline

The application deadline for Phase 3 Provider Relief is November 6, 2020.

10/15/2020

Focus on Taxation: Meals & Entertainment Final Regulations Clarify Deductibility

The IRS and Treasury have finalized regulations implementing amendments made by the Tax Cuts and Jobs Act (TCJA) to business related meals and entertainment deductions.

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