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The elephant in the room is financial statements prepared under US GAAP no longer provides any value. The primary reasons are US GAAP is overly complex, burdensome to implement, costly to maintain and does not represent the economics of a business or organization. Thus, users no longer want or use the financial statements prepared under US GAAP. There is more information on my website www.antigaap.com. The following are a summary of my primary reasons: Overly Complex - One only needs to look at the two most recent major accounting standards as examples; revenue recogition and leases. Understanding the requirements around "performance obligations" for revenue ...
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Not-for-profit board officers, directors, trustees and key employees must avoid conflicts of interest because it’s their duty to do so. Any direct or indirect financial interest in a transaction or arrangement that might benefit one of these individuals personally could result in the loss of your organization’s tax-exempt status — and its reputation. Here’s a quick checklist to gauge whether your nonprofit is doing what it takes to avoid conflicts of interest: Do you have a conflict-of-interest policy in place that specifies what constitutes a conflict and lists exceptions? Do you require board officers, directors, trustees and key employees ...
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Steve Zylstra will presenting at the Technology for Accounting Conference on Dec. 7 th . His topics is: Technology Paves the Road For Success. The Technology for Accounting Conference is focused on providing CPAs in all fields of accounting with the tools and skills needed to keep up to date with changes in technology. What do you know about Bitcoins and the Blockchain? How about Cloud Computing? Are there opportunities to build relationships between those in Finance and IT? Learn how the Arizona Technology Council has been making strides in our state legislature to show the value of technology in raising social and economic standards in Arizona. ...
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I am privileged to have been a panelist on the 109 th Arizona Town Hall, Financing Arizona’s Future. The Town Hall convened in Mesa, AZ. From November 13-16 th , 2016. I was one of 80 panelists and was impressed and humbled by the experienced talent assembled from a statewide pool of community activists. Well trained panel chairs, Panel Recorders and “veteran” panelists did an amazing job of keeping the process focused and moving toward a Recommendations Report. Armed with specific background reports and the words of nationally recognized expert speakers we were prepared to move forward. The Town Hall began with panel discussions by ...
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