Understanding the accounting treatment for internal-use software development costs can be confusing. To help alleviate this confusion, we have summarized the requirements and accounting treatment presented in Accounting Standards Codification (ASC) 350-40: Internal-Use Software. First, we need to identify what is considered to be internal-use…
Cost of Goods Sold (COGS) includes all direct costs used during the production or acquisition of goods and inventory sold by a company. As a small business, understanding COGS can help you run a more efficient and profitable company. Not only will it affect your…
In February, we made our clients aware of the new CTA Reporting Requirements below. However, on Friday, March 1, the U.S. District Court of the District of Alabama made a surprising decision, ruling the Corporate Transparency Act (CTA) unconstitutional. This suit was filed by the…
Rivero, Gordimer & Company is committed to providing our clients with the highest level of professional services while continuing to give back to our community. We’d love to share with you what we’ve been working on over the last few months. Please take a second to read…
By Patrick Goodwin, CPA and Stephanie Smith, CPA Nobody likes to hear the word “fraud,” especially when the fraud is associated with your own business. Fraud can occur to any person, at any company, at any time. However, fraud is more likely to occur when…