At Rubino & McGeehin, we are happy to share our business, accounting, and tax knowledge and insight with you. Below are resources in which we analyze and explain current issues, identify solutions, and define best practices to help you become and remain productive and profitable.
Resources may be filtered by these categories:
Showing Resources: 1–10 of 37
Survey Shows Regional Variations in Business Confidence
Rubino & McGeehin is a member of MSI Global Alliance (MSI), an international association of independent professional firms, with over 250 member firms in some 100 countries. Each quarter, the MSI Global Feelgood Index surveys business owners and managers throughout the world on their levels of optimism regarding seven key areas of business: sales pipeline, profit margins, cash flow, spending on investment capital, staff numbers, spending on marketing and advertising, and spending on staff training and welfare.
OMB Proposes Grants Management Reform
In response to a February 2011 Executive Order on regulatory flexibility, the OMB is issuing proposed guidance in the Federal Register and is seeking input from the federal grants community. The subject areas include the following.
Proposed Changes by OMB for Grants and A-133 Audits
The U. S. Office of Management and Budget (OMB) has issued for comment an Advance Notice of Proposed Guidance titled, Reform of Federal Policies Relating to Grants and Cooperative Agreements; cost principles and Administrative requirements (including Single Audit Act) (Advance Notice).
Proposed Revenue Recognition Standards
This memorandum provides an overview of the new model for revenue recognition exposed in Proposed Accounting Standards Update (ASU) No. 2011-230, Revenue Recognition (Topic 605): Revenue from Contracts with Customers, Revision of Exposure Draft Issued June 24, 2010.
Rubino & McGeehin Announces Two Shareholder Appointments
Rubino & McGeehin is pleased to announce that two Rubino & McGeehin Senior Managers, Carolyn Quill and Patrick Curtis, will be promoted to the position of Shareholder on February 1, 2012. Both Carolyn and Patrick are long time Rubino & McGeehin employees each having been with the firm 12 years. Carolyn has over 20 years of experience and provides tax services to individuals, as well as, many types of businesses and their owners. Patrick specializes in the area of government procurement and provides auditing and consulting services to government contractors and those non-profit organizations with government grants.
Cultivating an Effective Working Relationship with Your Treasurer
We often squander valuable resources. A Treasurer is a precious resource and we need to make sure we maximize the potential of that resource. Universally, nonprofit organizations indirectly undermine the benefits that can come from an interactive treasurer relationship. Why does this happen? Simply, nonprofit organizations just have too many barriers in place. Some of these barriers come from poorly designed governance policies and practices. But many of these barriers come from human nature itself. We need to work smarter when it comes to effectively integrating our treasurers into the fabric of our financial management systems. The results will be beneficial and fulfilling.
COSO to Update Internal Control Framework
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has proposed an update to the current 20 year old framework on internal control. Currently, there are five components of the framework – control environment, risk assessment, control activities, information and communication, and monitoring. The five components will not be changing; however, there are 17 principles which have been proposed to update these components.
Fair Value Measurements May Become More Fair for Nonpublic Companies
The Board meeting of the Financial Accounting Standards Board (FASB) on November 22, 2011 could lead to less stringent fair value measurement requirements for nonprofits and nonpublic companies in early 2012. Currently, private companies are required to disclose the basis for valuing Level 3 measurements on the fair value hierarchy, which encompass “significant unobservable inputs” as defined by FASB. The discussion deliberated by Board members was whether or not to continue to require the disclosure of these measurements, as they impose significant costs on private entities.
2012 Speaking Engagement Schedule
Please join us at one of our speaking engagements during 2012.
AICPA Raises Concerns about Mandatory Audit Firm Rotation
During August 2011, the Public Companies Accounting Oversight Board (PCAOB) voted to issue a concept release regarding possible mandatory limits on audit firm tenure with public companies. The board is focusing on the advantages and disadvantages of audit terms of 10 years or greater.