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 […]

Appellate Court Rules Abuse In Recent “Double Dip” Case

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A recent decision in the Connecticut appellate court found the trial court “double dipped” when it divided the marital assets and calculated spousal support in the case Oudheusden v. Oudheusden. A double dip occurs when the same income or cash flow is used twice – once as an asset under equitable distribution of marital property […]

The Value of Management’s Forecasts in an ESOP Valuation

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Recently, the United States Department of Labor (DOL) has been extremely aggressive in challenging transactions involving Employee Stock Ownership Plans (ESOPs). There are numerous current DOL investigations of ESOP transactions, and valuation takes center stage upon DOL scrutiny. These elevated trends are expected to remain for some time in the future. In reference to scrutiny […]