Due to the recent volatility of the virtual currency market, the National Futures Association has issued a reminder regarding the ongoing disclosures and reporting requirements of NFA Members. Disclosure All FCMs, IBs, Commodity Pools, and Commodity Trading Advisors that engage…
Audit Brief: Accounting Estimates Present Challenges in Times of Uncertainty
In today’s unprecedented market conditions, it can be challenging to predict metrics that underlie your company’s accounting estimates. Examples of key “unknowns” include how much longer certain pandemic issues will continue, how federal stimulus spending will affect the economy over…
Audit Brief: Small Businesses Have Accounting Options
Businesses need financial information that’s accurate, relevant and timely. The Securities and Exchange Commission requires publicly traded companies to follow U.S. Generally Accepted Accounting Principles (GAAP), often considered the “gold standard” in financial reporting in the United States. But privately…
Tax Brief: Eligible Businesses can Claim the Employee Retention Tax Credit
The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules. Background Back in March of 2020,…