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Delap Blog - Accounting Updates, Resources, and News


24 Jan

New Year, New Tax Law

January 24, 2019 | By | No Comments

The new year has arrived, and that means it’s time to file taxes. For the first time in a long time, we have major changes in the tax law. About a year ago, Congress passed the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. This was the largest tax law change since 1986. […]

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10 Jan

Taking a Fresh Look at Medical Malpractice Liabilities

January 10, 2019 | By | No Comments

At one point or another, it’s likely to happen to any healthcare organization: a patient files a medical malpractice claim.  The first order of business is usually a call to your attorney and malpractice insurance carrier.  But what about a call to your accounting department?  Is there even an accounting implication when a malpractice claim […]

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02 Jan

Common Cybersecurity Issues Financial Institutions Face and How to Address Them

January 2, 2019 | By | No Comments

Since 1992, Delap Cyber has served a wide variety of financial institution clients, from national banks to local credit unions. But no matter the size of the institution, one constant rings true: all financial institutions face the ongoing challenge of staying on top of cybersecurity. In this article, we outline some of the cybersecurity issues […]

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31 Dec

New Rules on Interest Expense Deduction and Depreciation for Auto Dealers

December 31, 2018 | By | No Comments

The Tax Cuts and Jobs Act of 2017 (TCJA) was beneficial to taxpayers in many ways. One would hope so considering the name of the Act. However, there were a few aspects of the TCJA that were unfavorable from the taxpayer’s standpoint. Here we will look at just one of those unfavorable provisions in relation […]

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27 Dec

Financial Institutions: Don’t Ignore the New Revenue Recognition Standard Because It Lacks Interest

December 27, 2018 | By | No Comments

Back in 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-09, Revenue from Contracts with Customers, which created a new section in the FASB’s Accounting Standards Codification: ASC Topic 606 (ASC 606). Prior to the establishment of ASC 606, the revenue recognition guidance in GAAP consisted of some broad revenue recognition concepts, along with […]

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