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Audit Archives | Delap CPA


15 Nov

3 Ways the New Revenue Recognition Will Impact Your Healthcare Organization’s Financial Statements

November 15, 2018 | By | No Comments

Looking back four years now, 2014 provided the accountants at Delap with some solid entertainment. My cherished Denver Broncos were clearly bought out by the Seattle Seahawks to lose Superbowl XLVIII in the most embarrassing match-up. Ever. might have lost the Superbowl to the PNW’s beloved Seattle Seahawks (I’m not bitter). HBO’s “True Detective” debuted […]

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13 Nov

Employee Benefit Plan Guide for Plan Administrators – Part 4: Switching Custodians

November 13, 2018 | By | No Comments

What can mean the difference between a poorly or well-managed plan? Often, it is the level of service provided by third-party service providers. Plan administrators should evaluate their service providers on a regular basis. This includes weighing factors such as fees, performance, and responsiveness to inquiries. Is the service provider meeting the needs of the […]

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07 Nov

Employee Benefit Plan Guide for Plan Administrators – Part 2: Common Contribution Considerations

November 7, 2018 | By | No Comments

Have you ever wondered what the auditors of your employee benefit plan (EBP) are doing all day?  We’re about to let you in on a little secret! Operating an EBP requires a variety of significant processes. One such process includes ensuring the Employer applies all contributions on a timely basis. In addition, verifying each participant […]

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28 Aug

New Revenue Recognition Rules, Do They Apply to You?

August 28, 2018 | By | No Comments

August 28, 2018 Q: What happens in 2019? A: The new revenue recognition guidance is effective for most, non-public companies (public companies started earlier). If your business earns revenue, this guidance applies to you! What’s Required to Recognize Revenue? The ASC 606 Revenue from Contracts with Customers rules (FASB ASU 2014-09) introduced the accounting world […]

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06 Aug

Keeping Up With GAAP – Inventory Measurement

August 6, 2015 | By | No Comments

For as long as we can remember, well – for most of us, generally accepted accounting principles (GAAP) requires inventory to be recorded at cost and subsequently measured at the lower of cost OR market. Sounds easy, but market could mean replacement cost, net realizable value, or net realizable value less an approximately normal profit […]

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