By: Chris Lambert, CPA, CGMA, CCIFP and  Danny R. Shobe, CPA, CCIFP In our last article we addressed the new Revenue Recognition standard effective for reporting periods beginning after December 15, 2017 for public companies and reporting periods beginning after December 15, 2018 for private companies. We discussed the 5-step process for implementing the new…

Author: Chris Lamber, CPA, CGMA, CCIFP and  Danny R. Shobe, CPA, CCIFP In May 2014, the FASB issued Accounting Standards Update (ASU) 2014-09 known as the “New Revenue Recognition Standard”, with the purpose of making revenue recognition more comparable and consistent between industries and entities by recognizing revenues in a manner that reflects when goods…

By: Chris Lambert, CPA, CGMA, CCIFP, Bruce Lawson, CPA, PFS, and Danny Shobe, CPA, CGMA, CCIFP The recently enacted Tax Cuts and Jobs Act (TCJA) has altered the tax landscape for many businesses. The changes are extensive, and this letter provides a high-level overview of some of the highlights to keep you informed. Due to…