April 12, 2019
Why Fighting Your Own Fraud Battles Can Be a Bad Idea
A recent global study by the Association of Certified Fraud Examiners found that 22% of the occupational fraud (fraud committed by employees) cases reviewed resulted in losses of over $1 million. The same Report to the Nations Global Study on Occupational Fraud and Abuse also found that 53% of fraud victims recovered nothing. As these …
April 3, 2019
Armanino TrustExplorer: A Software Solution for the Future of Digital Assets
For some time now we have been asking ourselves, what does the future of trust and transparency look like with increased adoption of digital assets, increased use of smart contracts and a world of DApps? There are so many challenging problems to solve, and we are actively working on a number of them. Some of …
April 1, 2019
When Outsourcing Finance, HR and Accounting Makes Sense
Most companies consider hiring a virtual accounting/HR/finance team when they’re small or are just starting operations. But outsourcing finance, HR and accounting departments can be the right move for larger companies, as well. Bang for the Buck for Small Companies If you’re a startup or small business, outsourcing is a fantastic solution because it’s so …
March 21, 2019
New FASB ASU 2018-07 Guidance Simplifies the Equity Accounting Process
If your company grants equity to non-employees/consultants, this is exciting news because it simplifies your equity accounting process! Updated Guidance that’s helpful!ASC 718 has expanded to now include non-employee and consultant grants within its scope. With the updated guidance under ASU 2018-07, employees and non-employees/consultant, will have the same overall treatment: Equity classified option and …
March 18, 2019
The Problem With ‘It’s Blockchain But Not Crypto’
As we build our new Blockchain practice, I keep on hearing the phrase “it’s blockchain, but not cryptocurrency” in an attempt to satisfy business audiences that you are talking about something “corporate legitimate.” The premise with “blockchain but not Bitcoin” is that we could get the clean, green pastures of a controlled enterprise blockchain with …
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March 8, 2019
Why Your Future Depends on Cloud Accounting Software
If your company still hasn’t switched to a cloud accounting software, there are a number of compelling reasons to make the change, like efficiency, access to real-time data and data security. But another important reason that often goes overlooked is the effect of your software choices on your staffing. The finance leaders of tomorrow don’t …
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March 6, 2019
Debunking Common Misconceptions About Auditing Digital Assets
When talking with audit professionals, we have noticed a few misconceptions about auditing digital assets that are worth discussing. The most prominent misconceptions relate to proving ownership and confirming transaction details of digital assets (typically cryptocurrencies) as part of a financial statement audit. We have heard the following assumptions that may seem reasonable at the …
January 31, 2019
Gaming Companies Need Strategic Options in a Shifting Market
The gaming industry is undergoing seismic shifts that are disrupting existing business models. To succeed in this fast-changing environment, companies need to be able to recognize their challenges and evaluate their strategic options objectively. The Fortnite Effect One main disruptor is the explosive success of the game Fortnite, which is transforming the industry with, among …
January 30, 2019
What the New Section 83(i) Guidance Means for Your Company
In December 2018, the Internal Revenue Service (IRS) issued new guidance under Notice 2018-97 to clarify some of the provisions of Code Section 83(i). Based on companies’ current practices, we believe that the new guidance will make more companies “ineligible corporations,” which may be a relief more than anything else. Background Passed as part of …
January 15, 2019
Year-End Accounting, Planning and Preparation
It’s that time of the year where you need to close out your year-end processes and plan for the new year. There are a lot of moving pieces, so to help keep you on track, here are 6 topics we recommend keeping in mind: 1. Due Dates According to our experts, these 5 key dates …