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Sensing Fraud? Go With Your Gut

Everyone has heard the phrase “Go With Your Gut.” When something doesn’t feel right, it often isn’t. In many of my past fraud investigations owners, board members, vendors, customers, and employees often tell me months or years after the fraud is discovered that something didn’t feel right to them either before or during the fraud […]

McKonly & Asbury Recognized For Commitment to Family Businesses

Serving family-owned businesses is not only the hallmark, but it is the keystone of our professional practice. Because our professionals deal with family-owned businesses on a day-to-day basis, we are considered by many to be specialized in this very unique area. Our commitment to family business is demonstrated by our strong financial and organizational support […]

Health Care Entities and the New Revenue Recognition Standard

On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers. The standard eliminates revenue recognition guidance under current U.S. Generally Accepted Accounting Principles, and replaces it with a principles-based approach for determining revenue recognition. This standard is effective for public companies with annual periods […]

How To Be Your Tax Accountants’ Tax Season MVP

It’s March!  Spring is in the air, the snow is melting, and most of our NCAA Tournament Brackets are in the trash.  Now that we do not have to worry about that anymore, you can focus on your personal income taxes.  April 15th … or 18th this year is only a few weeks away, and […]

Prevention of High-Risk Fraud Situations

The Association of Certified Fraud Examiners has released its ninth annual global fraud study. The 2016 study continues to highlight the cost of fraud, waste, and abuse. The report indicates the median loss for financial statement fraud is $975,000, followed by corruption at $200,000, and asset misappropriation at $125,000. In addition, the higher ranked the […]

Industry Report: Offices of Lawyers

This month’s Industry Report includes the metrics and common size information for Offices of Lawyers. You already have your financial statements in hand, you know your metrics, now let us provide some information that will help you see how you compare to your competition. We have provided key financial metrics through 2016 for Offices of […]

FASB ASU 2017-06 – Employee Benefit Plan Master Trust Reporting

On February 27, 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2017-06. The update clarifies the presentation and disclosure requirements for an employee benefit plan’s interest in a master trust. A master trust is a trust for which a regulated financial institution, (bank, trust company, or similar financial institution that is regulated, […]

Save the Date! McKonly & Asbury’s Collaborate 2017 Conference – September 21

Be sure to mark your calendar for McKonly & Asbury’s Collaborate 2017 Conference! This year’s conference will be held on Thursday, September 21st at the Hershey Lodge! 2017 marks the 5th year for this conference which features a variety of topics and speakers that are continually being customized to past participant feedback, as well as what’s trending in […]

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