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So far Sonya Foster has created 1090 blog entries.

Going Concern Assessments and COVID-19

The novel coronavirus (COVID-19) pandemic has adversely affected the global economy. Companies of all sizes in all industries are faced with closures of specific locations or complete shutdowns; employee layoffs, furloughs or restrictions on work; liquidity issues; and disruptions to their supply chains and customers. These negative impacts have brought

2021-04-12T14:54:14-06:00April 28th, 2020|

Adjusting Financial Statements for COVID-19 Tax Relief Measures

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for businesses hit by the novel coronavirus (COVID-19) crisis. Those provisions will also have an impact on financial reporting. Companies that issue financial statements under U.S. Generally Accepted Accounting Principles (GAAP)

2021-04-12T14:54:14-06:00April 28th, 2020|

Charitable Giving Can Reduce Your Taxable Estate and Fulfill Your Legacy

The novel coronavirus (COVID-19) pandemic and the resulting economic fallout is dealing a crushing blow to charitable organizations. Indeed, during a time when food banks, disaster relief and other nonprofit services are needed most by the public, their funding is suffering due to cancelled fundraising events and other factors. If

2021-04-12T14:54:14-06:00April 21st, 2020|

Financial Statements Can Help During COVID-19

The economic fallout from the coronavirus (COVID-19) pandemic has forced business owners to reevaluate their operations and make difficult decisions. One place to look for the information you need to make rational, reasonable moves is your financial statements. Under U.S. Generally Accepted Accounting Principles, these typically comprise a statement of

2021-04-12T14:54:15-06:00April 21st, 2020|
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