Treasury-Backed “Fiscal Recovery Funds” Present Unique Funding Opportunities to State and Local Governments
As part of President Biden’s American Rescue Plan Act (ARPA) that was passed in March 2021, Congress assigned $1.9 trillion in federal funds for “COVID-related
The Importance of Choosing a Quality Auditor for Employee Benefit Plans
For years, employee benefit plans (EBPs) have been under a regulatory microscope. In November 2021, the Department of Labor (DOL) will begin to assess the
Discount rate for lessees that are not PBEs
(authored by RSM US LLP) The FASB tentatively decided to allow lessees that are not PBEs to make the risk-free rate election by class of underlying asset.
COVID-19 Impact on Asset Impairment
The coronavirus pandemic infused unprecedented levels of uncertainty into our economy. When the virus became more widely spread in March, businesses closed, workers self-isolated, and
Health care data analytics: Lessons learned in a time of disruption
(authored by RSM US LLP) Health care leaders share how they leveraged data analytics to meet the challenge of the pandemic and prepare for the future.
SBA formally withdraws loan necessity questionnaire
(authored by RSM US LLP) Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.
Reporting Requirements Changed Yet Again for Recipients of Provider Relief Funds
The U.S. Department of Health and Human Services (HHS) once again revised the reporting requirements for recipients of provider relief funds (PRF). In a notice
Coronavirus: Updates about certain Provider Relief Fund requirements
(authored by RSM US LLP) We updated the discussion about certain government assistance in our Coronavirus: Financial reporting considerations white paper.
Businesses Required to Subsidize COBRA Premiums Will Be Reimbursed with Payroll Tax Credits
To help Americans struggling with job loss, the American Rescue Plan Act of 2021 (ARPA) will subsidize the costs of COBRA insurance premiums effective April
RSM Middle Market Business Index: April 2021
(authored by RSM US LLP) Middle market business conditions improved in April as the prospect of rising revenues and net earnings offset cost pressures.
Implementing GASB 87: Government entities learn from public companies
(authored by RSM US LLP) Government entities are finding GASB 87 compliance, the Government Accounting Standards Board’s new standard on lease accounting, complex.
FASB staff clarifying comments on new goodwill impairment alternative
(authored by RSM US LLP) The FASB staff recently made clarifying comments related to the new goodwill impairment triggering event alternative.