INSIGHTS

Lutz Business Insights

Disclosure Relief: SEC Redefines “Smaller Reporting Company”

Disclosure Relief: SEC Redefines “Smaller Reporting Company”

The SEC is “very close” to adopting rules that will revise the definition of “smaller reporting company” and let more companies file reports with a lighter load of disclosures. This article explains how the changes will promote capital formation and reduce the compliance costs for smaller companies…

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FASB Proposes Updated Standard for Cloud Computing

FASB Proposes Updated Standard for Cloud Computing

The FASB recently issued a proposal to clarify how to account for the costs of setting up business software packages that are managed in the cloud. This article explains how the proposal, if finalized, would let more of the costs of implementing a cloud computing contract be spread over the contract’s life. A sidebar explains why inquiring about cloud computing risks is an integral part of the financial statement auditing process…

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Fair Value Returns to the Spotlight

Fair Value Returns to the Spotlight

In December 2015, the FASB released a proposal intended to improve financial statement disclosures about the estimates used to determine the fair values of assets and liabilities. After an almost two-year lull, the FASB resumed its deliberations on this project and, in March 2018, voted to approve its 2015 proposal. This article answers some common questions about fair value and how the reporting requirements for fair value will change under the updated standard…

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5 Retirement Strategies for Small Business Owners

5 Retirement Strategies for Small Business Owners

We work with small business owners all the time. The entrepreneurial spirit runs through them all, and their passion for their businesses is evident each time we meet.  Most spend the waking hours of their day working on their business and trying to improve their craft in order to help their customers, their employees and their business succeed…

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The 5 Emotional Stages of Selling Your Business

The 5 Emotional Stages of Selling Your Business

Less than one-third of family-owned businesses survive the transition of ownership from the first generation to the second. Selling your business is an emotional process not all owners are prepared for. Our mergers and acquisitions team outlines the common stages business owners go through in the process of selling their company…

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Cyber Security Best Practices for Your Business

Cyber Security Best Practices for Your Business

Cyber Security is a subject that continues to make headlining news. Because every business is at risk of a cyberattack, it’s important to know what types of threats your business could be subject to and understand the techniques you can implement to help prevent attacks from happening…

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