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Sports can teach today’s CPAs about many of our most critical business issues including strategy, culture, metrics, management, innovation, adversity and sustainability. Tim Zue, of the Boston Red Sox will discuss the business of baseball, including the current health of major league baseball, business analytics case studies and the use of technology in the finance department of New England’s favorite baseball team.
In this session, Steven Burke, Esq., CPA, CGMA will offer his thoughts on the Tax Cuts and Jobs Act of 2017 (the “Act”) and the comprehensive changes to the Internal Revenue Code, as a result. He will explain the most significant changes in the Tax Code, as they relate to the Act, including cuts in the corporate and individual tax rates, the creation of new tax deductions, and the expansion and elimination of various business and individual deductions. Burke will also provide his recommendations including steps individuals and businesses should take into consideration, in light of the recent changes to maximize their deductions and overall tax liability.
Everyone has ethical standards and a process to identify ethical violations. Giving Voice to Values (GVV) is a process for teaching individuals how to develop a strategy and use scripts to successfully address a values-based challenge. GVV is a post decision-making process that starts after someone realizes there is a problem by creating an action-oriented strategy to resolve the situation. GVV provides a systematic approach to teach strategies to address both commonplace and extraordinary ethical challenges. The framework allows for repeated practice so an approach to speaking out becomes natural and second nature.
At 459 pages, ASU 2017-02 may not be the biggest FASB ever issued, but it will certainly make sweeping changes to your balance sheet. This session will cover which of your old "operating leases" will now be required to be capitalized, and which of your current leases may now be considered "service agreements.” We will explain which leases are amortized into the income statement and why any lease recorded on a straight-line basis is more difficult. You will learn why the old definition of an operating lease is nothing like the new definition, how you will have to address lease terms and the myriad of disclosures that will now be recorded. The new standard is likely to have a significant effect on your EBITDA, your net income, your balance sheet and your loan covenants. The time to prepare for the new lease standard is now!
Have you been delaying thinking about ASU 2014-09, Revenue Recognition from Contracts with Customers? Well, delay no more! Private companies must implement beginning in 2019. This will affect balance sheets, income statements, accounting policies and even software. In this fast-paced seminar, we will boil down the five new steps required in the revenue recognition process – taking the complicated and making it simple. We will compare to the new standard to prior GAAP, highlighting the major changes and provide practical steps to begin the process of changing your entire thought process about revenue!