Technology Blog

Armanino’s Technology Blog informs technology and software CFOs and executives of the latest industry trends, rule changes and best practices. Our professionals bring you their insights and advice from an accounting and organization perspective to help your company reach its goals.

Thursday, December 3, 2015

Braces Case a Win for Tech, a Loss for Entertainment Industry

A closely watched court decision involving a patent dispute between two U.S. orthodontics companies is a win for tech firms, but a big blow to the entertainment industry and other sellers of digital content. On November 10, a federal appeals court panel ruled that the International Trade Commission (ITC) does not have control over the …

Friday, April 3, 2015

FASB Rev Rec Deferral Doesn’t Equal Less Work

This past Wednesday, the Financial Accounting Standards Board (FASB)—after hearing recommendations from their staff—voted to propose deferring the implementation of the new revenue recognition standard by another year. The board plans to issue an exposure draft, which will have a 30-day comment period before final adoption. For public companies, the proposed timeline would apply the …

Wednesday, December 10, 2014

Accounting Update – Rules Are Changing

As companies contemplate closing the books on 2014, some updated accounting standards offer hope that the job is getting simpler. In a recent webinar, Matthew Perreault, Audit Partner and Head of Armanino’s Technology and SEC Practice, noted that the “biggest change” comes in the area of revenue recognition. The Financial Accounting Standards Board (FASB) and …

Tuesday, August 12, 2014

SOX Compliance Opens New Chapter

The route to Sarbanes-Oxley (SOX) compliance has never been a straight line. And recently, the Public Company Accounting Oversight Board (PCAOB) Staff Audit Practice Alert # 11 offered some new direction that C-level executives need to consider in making sure their firms don’t end up in the regulatory ditch. The PCAOB is sending a clear …

Monday, May 19, 2014

Internal Control Reporting Changes: The New COSO Framework

In our recent webinar, New COSO Framework—Imperative Internal Control Reporting Changes, me and my colleagues, Consulting Partner David Davis and Consulting Senior Manager Dave Osburn, walked through the first internal controls overhaul in more than 20 years. And with new Committee of Sponsoring Organizations (COSO) implementation deadlines upon us, it’s time for companies to stop …

Tuesday, August 6, 2013

Revenue Recognition: A Good Time to Review Accounting Infrastructure

In its late May meeting, the Financial Accounting Standards Board left no doubt that the cement has been poured on its game-changing shift in the way the world handles revenue recognition. Sure, there’s still time for some fine tuning before the cement hardens. The board acknowledged, for example, it would be taking another look at …

Monday, May 13, 2013

Marketplace Fairness Act of 2013: Impact on Sales & Use Tax

I know there is a lot of buzz around sales tax when I see it in the associated press as I have recently around the Marketplace Fairness Act of 2013, and other “internet tax” legislation. My interest in this legislation extends beyond the implications of requiring small and medium businesses and internet retailers to collect …

Monday, January 21, 2013

Mandatory Auditor Rotation: Good or Bad?

Should auditor rotation be a mandatory practice? Studies have shown that audit failures are three times more likely in the first two years of an auditor/client relationship. Further, the Public Company Accounting Oversight Board, (inspecting independent financial statement audit quality on an annual basis) found that the seven largest CPA firms in the U.S. incurred …

Thursday, October 4, 2012

Closing the FASB-IASB Gap Is Unlikely

Ten years since the FASB and IASB agreed to cooperate and make their reporting standards compatible, the two sides still remain far apart. Unfortunately it’s a marriage that may never happen. At their joint meeting in Norwalk, Connecticut, USA on September 18, 2002, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board …