CFOs Are Still Buried in Spreadsheets

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In NetSuite Brainyard’s recent white paper, “State of the CFO Role,” 186 CFOs respondents said they spend an average of 2.25 hours in spreadsheets every day. That’s more time in spreadsheets than any other software in their toolkits. In some ways, that’s never going to change. CFOs  love the ability to export and manipulate data […]

SSA Announces Increased FICA Coverage Thresholds

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A coverage threshold is an amount of earnings that triggers coverage under the Social Security program. The Social Security Administration (SSA) has announced a new threshold for  “cash” wages paid by an employer for domestic service in the employer’s private household. Employer Social Security tax obligations are an often-missed liability for households engaging individual assistance […]

Private Company Alternatives for Purchase Accounting

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Background In August of 1970, the Accounting Principles Board (APB) issued Opinion 16: Business Combinations to set the standards for accounting for business combinations. Under APB 16, there were two methods of accounting for business combinations: the pooling of interests method and the purchase method. Business combinations that originated from the exchange of equity securities […]

ASU 2018-15 Simplifies Accounting for Cloud Computing Expenses

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As cloud computing became more popular, businesses took different approaches to how they accounted for it on their financial statements. But, as the percentage of businesses using cloud products increased, the FASB and other standard setters realized that the “diversity” in practice was growing too large, and began to issue regulations to clarify the process […]

Wolstoncroft Promoted to Partner

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Grossman Yanak & Ford LLP (GYF), a regional certified public accounting and consulting firm based in downtown Pittsburgh, is pleased to announce that Mark D. Wolstoncroft, CPA has been named as a Partner in the Assurance & Advisory Services Group. Mark joined the firm in 2000, following his graduation from Grove City College. Over the […]