Permanent link to this article: https://betweenthenumbers.net/2016/08/fasb-issue-new-guidance-for-not-for-profit-entities/
Aug 22
The evolving prominence of IT’s voice in major strategic decisions is helping companies in the mid-market (defined as annual revenues of $100 million – $1 billion) to embrace emerging technology at an unprecedented pace. A recent study by Deloitte, in partnership with market research firm OnResearch, examined these trends. The CTOs, CIOs and IT Department …
Permanent link to this article: https://betweenthenumbers.net/2016/08/its-seat-at-the-table-is-creating-massive-change-in-the-mid-market/
Aug 21
After the last Olympics, Ryan Lochte enjoyed a nice run of endorsements deals, reportedly enjoying over $2 million from a host of well known brands. However, after the highly publicized recent Olympic debacle in which he allegedly destroyed property and then claimed to have been robbed, it is likely that he will not enjoy a …
Permanent link to this article: https://betweenthenumbers.net/2016/08/lochte-likely-loses-much-more-than-his-wallet-in-olympics-debacle/
Feb 02
A former talent relations executive at HBO has admitted to diverting nearly $1 million in production funds to a fake company she created. The type of fraudulent billing scheme using a shell company can be accomplished with nothing more than a fictitious name and a payment destination. In this case, the executive used the name …
Permanent link to this article: https://betweenthenumbers.net/2016/02/hbo-executive-admits-1-million-fake-vendor-fraud/
Oct 19
The San Antonio Court of Appeals recently affirmed summary judgment for Marathon Oil Corporation in their defense against a case brought by Michael and Myra Cerny. The underlying litigation alleged that emissions from Marathon plants caused the Cernys various injuries and property damage. However, the Cernys presented no expert medical testimony on the causation of …
Permanent link to this article: https://betweenthenumbers.net/2015/10/appeals-court-requires-a-medical-expert-to-prove-discomfort-causation/
Aug 13
The $26 million settlement between Universal City Studios and a class of Hollywood filmmakers has been tentatively approved. The filmmakers believed they had been underpaid based on miscalculated royalties associated with profits from home-video sales. Unfortunately underpayment of royalties is all too common and many fail to properly manage their agreements. One critical tool against …
Permanent link to this article: https://betweenthenumbers.net/2015/08/26-million-settlement-to-hollywood-filmmakers-over-home-video-royalties/
Aug 12
A federal appeals court has agreed with an unmarried California couple that they should not be treated as married with regard to mortgage interest deductions limits. Bruce Voss and Charles Sophy are co-owners of real property. Each claimed a home mortgage interest deduction in reliance on Section 163(h)(3) of the Tax Code, which allows for …
Permanent link to this article: https://betweenthenumbers.net/2015/08/appeals-court-provides-tax-benefit-to-unmarried-couples-with-high-mortgage-debt/
Jul 23
The Securities & Exchange Commission (“SEC”) has announced an approximately $3 million whistleblower award to an unnamed company insider who provided information to the SEC regarding a complex fraud that would otherwise been difficult to uncover. Whistleblowers who provide the SEC such information are eligible for awards of 10 to 30 percent of the money …
Permanent link to this article: https://betweenthenumbers.net/2015/07/another-whistleblower-gets-multi-millions/
Jul 22
The US Court of Appeals for the Ninth Circuit has opened the door significantly wider for those who wish to pursue qui tam False Claims Act suits by reversing a dismissal of two such matters. Ruling en banc in United States ex rel. Hartpence v. Kinetic Concepts, Inc., the Ninth Circuit has removed a prior …
Permanent link to this article: https://betweenthenumbers.net/2015/07/ninth-circuit-invites-more-qui-tam-cases/
Jul 20
The Securities and Exchange Commission recently announced its first fraud charges derived from tracking behavior using data analytics of large volumes of investment advisors’ trade allocation detail. The enforcement target is Welhouse & Associates Inc. and its owner Mark P. Welhouse. Mr. Welhouse is accused of “cherry-picking”, a practice whereby one improperly allocates option trades …
Permanent link to this article: https://betweenthenumbers.net/2015/07/sec-utilizes-big-data-and-statistics-to-target-trading-fraud/
Aug 25
FASB Issues New Guidance for Not-for-Profit Entities
August 25, 2016
The Financial Accounting Standards Board (“FASB”) recently issued ASU 2016-14 “Presentation of Financial Statements of Not-for-Profit Entities” in an effort to improve transparency and understanding. Changes effected therein include: The 3 formerly applied classes of unrestricted, temporarily restricted, and permanently restricted assets will be simplified into two classes based on whether they are donor-restricted. Additional …
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