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September 20, 2016

Brad Hale, Managing Director with CBIZ & MHM Tampa Bay, will speak at the 2016 Accounting & Business Show held on September 28-30th at the Broward County Convention Center in Ft. Lauderdale.  The 2-day conference includes presentations on a variety of accounting topics, including FASB updates, Social Security for CPAs, sales & use tax trends, auditing standards board updates, R&D tax credits, data security best practices, federal tax updates, and succession planning, among others.  

Brad will be presenting on the key takeaways from implementation projects on the new revenue standard.  The presentation will focus on practical application of the new revenue recognition standard through the use of examples and stories from active implementation projects.

To register for this conference, visit the FICPA registration website here.  For more coverage of the event, search #ficpaABS and follow the FICPA on Twitter @FICPA.

June 22, 2016

In the first and second parts of this revenue recognition series, Brad Hale, Managing Director at CBIZ MHM Tampa Bay, answered some of the most frequently asked questions about the new rules and examined the main challenges that businesses will face during implementation.

In the third and final part of this series, Brad discusses ways that businesses should prepare for the standard during the deferral period. Brad touches on the importance of not looking at this time as a free period, but to take advantage of this time to prepare, get educated, and look at internal controls and processes.

To listen to the full podcast, click here. For more information on how to adopt the new revenue recognition standard, contact Brad at bhale@cbiz.com or 727.572.1400.

June 8, 2016

In the part one of this series, Brad discussed frequently asked questions about the new revenue recognition rules and what they entail.

In part two of this three part series covering the latest in revenue recognition, Brad Hale, Tampa Bay Managing Director, discusses some of the challenges that businesses will face as they begin to implement the new standard, and some solutions to alleviate these challenges.

One of the biggest challenges many businesses will face with this standard is finding out where to start. To help with the process, establish a cross-functional team and conduct a brainstorming session to identify the company’s key revenue streams and what they impact. Work together with the cross-functional team established to develop the best approach for implementation and put together a timeline with deadlines, assigning someone to lead the transition. Be sure to involve the cross-functional team, as various departments from across the organization will need to get involved.

As noted in part one of this series, certain industries will be affected more than others. However, all companies will be impacted by the new standard in one way or another. The most important takeaway here is to get started now!

Stay tuned for part three in this series that will discuss ways businesses can prepare for the revenue recognition standard during the deferral period. To read the full article, click here. For more information on how to adopt the new revenue recognition standard, click here or contact Brad at bhale@cbiz.com or 727.572.1400.

April 28, 2016

The Memphis office will host a full-day CFO & Controller Conference focused on the ever-changing role of The New CFO.

National speakers, economists, and advisors, along with a panel of local CFOs will share their insights into what the modern CFO should be prepared to face as the role of CFO attracts more business complexity.

The following topics & speakers will be featured in 50 minute sessions:

Executive Compensation in Privately-Held Companies: Best Practices in Today’s Competition
Hal Wallach – Director of Executive Compensation Consulting, CBIZ Human Capital Services

Trends in Cash Automation
Henry Siler – Senior Vice President, Bank of America Merrill Lynch

How to Positively Impact Business Outcomes Through Improved Employee Wellbeing
Emily Noll – National Director of Wellness, CBIZ MHM, LLC
Amy HowellCorporate Wellness Specialist, CBIZ Benefits & Insurance Services

Current Trends in Tax Planning
Lloyd Grissinger – Lead Managing Director & Tax Practice Leader, CBIZ MHM, LLC
Mark Baricos - Managing Director, CBIZ MHM, LLC

An Accountant, A Broker, and A Banker Discuss FASB’s New Leasing Standard 
Brad Hale – Managing Director, CBIZ MHM, LLC 
Kelly Truitt – Senior Vice President, CBRE 
Bruce Clark – Vice President, Bank of America Merrill Lynch

The program will close with a panel of local CFOs who have played a strategic role in the mergers and acquisitions process at their respective companies and throughout their career.  

The event will take place May 17th at The University of Memphis FedEx Institute of Technology.  Registration will begin with a breakfast at 7:30 a.m. and the event kicks off at 8:00 a.m., giving participants eligibility to earn a total of 7 CPE Credits throughout the full-day event.

For more information and to register:

Can't attend the event?  Follow along with the conversation on Twitter using #CFOConf

April 14, 2016

In part one of this three part series covering the latest in revenue recognition, Brad Hale, Tampa Bay Managing Director, gives the background on the different accounting rules throughout the world, specifically focusing on one of the IASB and FASB’s first projects - creating a set of universal standards for revenue recognition.

Brad discusses why the IASB and FASB set out to make these changes and covers some frequently asked questions about the new rules and what they entail.

  • When will the new standards take effect?

o   For public companies, the standards will kick in during the fiscal year beginning after Dec. 15, 2017. 

o   Private companies will be required to implement the standards exactly one year later, beginning the fiscal year after Dec. 15, 2018.

  • How will businesses be affected?

o   Businesses will find they have to disclose more.   Under the new standards, there will likely be several pages of disclosure, most of which will discuss the reasoning that led to management’s decisions and conclusions about how to recognize revenue.

  • What should businesses do now to prepare?

o   Businesses should continue to monitor the amendments being made by the FASB, as there are still several amendments that need to get finalized.  Businesses should also make every effort to get up to speed on the standards so they are ready when the time comes for implementation.

Stay tuned for parts two and three, which will discuss the challenges businesses will face during and after implementation and how they should prepare ahead of the transition.  To read the full article, click here.  For more information on how to adopt the new revenue recognition standard, click here or contact Brad at bhale@cbiz.com or 727.572.1400.

November 4, 2015
Three CBIZ MHM Tampa Bay experts spoke at the 2015 USF Accounting Conference last week. The 2-day conference included presentations on a variety of accounting topics, including economic updates, auditing cyber security, identity theft, affordable care act, and retirement planning.

Brad Hale, Managing Director, presented on revenue recognition, walking attendees through a practical approach to adoption of the new revenue recognition standard including a high-level overview of the technical guidance and the most recent discussions of the Transition Resource Group.

Paul Dunham
, Managing Director, presented a federal tax update where he reviewed fiscal year 2016 budget proposals, the 2015 transportation act, tax rates and general planning, and status of extenders.

Dave Enick
, Managing Director, presented on accounting for M&A, which covered pre- and post-transaction accounting considerations related to M&A activity, from consideration of historical accounting policies and procedures to the technical nuances associated with business combinations and changing capital structures.

For more coverage of the event, search #ficpaUSFAC on Twitter.

October 14, 2015

Six proposed, small-scale changes have been added to the list of updates to ASU 2014-09, Revenue from Contract with Customers (Topic 606). The exposure draft of the changes, released by the Financial Accounting Standards Board (FASB), does not materially change the five-step process for revenue recognition put in place by ASU 2014-09. A recent article by Tampa Bay Managing Director, Brad Hale, discusses the changes and how they are designed to address six areas of implementation concern raised by the Transition Resource Group:

  1. Collectability Criterion
  2. Presentation of Taxes Collected from the Customer
  3. Noncash Considerations
  4. Contract Modifications at Transition
  5. Completed Contracts at Transition
  6. Technical Correction to Transition Guidance

As part of the exposure draft, the FASB agreed to add items related to the adoption and transition to the new revenue recognition guidance to its technical agenda. Further implementation concerns and issues will likely arise before the guidance starts to roll out in 2018, and we will keep you up-to-date as these changes occur.

For more information about the six proposed changes, read the full article here. If you have questions about how revenue recognition will impact your organization, please contact Brad at bhale@cbiz.com or 727.572.1400.

September 17, 2015

The Securities and Exchange Commission (SEC) is bringing additional transparency to the ever-controversial topic of executive compensation. One finalized and two proposed rules would require publicly traded U.S. companies to be more forthcoming with data related to the pay of their top employees.

  1. A recent article by Tampa Bay Managing Director, Brad Hale, discusses the new final and proposed SEC rules detailed below. The recently finalized pay ratio disclosure asks that publicly traded companies include information about the difference between the CEO's total compensation and the average worker's total compensation.
  2. A proposed rule on pay versus performance disclosures would require public companies to disclose the relationship between executive compensation and shareholder return.
  3. A proposed "clawback" rule would require public companies, in the event of a restatement, to recover any incentive-based compensation that was incorrectly distributed.

Should the two proposed rules become finalized, the SEC would have fulfilled all of its mandates with respect to executive compensation.

Public companies subject to the new requirements and proposed rules need to get a jumpstart on making the necessary changes. In addition to meeting their compliance burdens, companies will need to prepare for the increased access investors and the public will have to your company's compensation practices. By acting early, companies have time to address any potential obstacles that may arise as they implement the standards.

For more information about the final and proposed SEC rules, read the full article here. If you have questions about the SEC requirements and their impact on your executive compensation programs, please contact Brad at bhale@cbiz.com or 727.572.1400.

August 4, 2015

Impending accounting changes may mean more businesses decide to reconsider their customer loyalty programs. Initiatives that provide incentives to returning customers allow companies to track client purchasing activity but can also trigger unclaimed property exposure, cybersecurity liabilities and other risks. A recent article by CBIZ MHM Managing Director, Brad Hale, discusses the new revenue recognition guidelines, which begin to roll out in 2018, and how they may have more businesses deciding their customer loyalty programs are not worth the risk.

Entities currently have two options to account for loyalty programs: the cost/provision method or the revenue deferral method. The favorable cost/provision method however, will soon be going away. The new revenue recognition guidance makes the revenue deferral accounting method mandatory, leaving companies with the difficult decision of whether or not they want to take on the liability of recognizing the revenue associated with the customer loyalty program.

The new revenue recognition guidance is complex and organizations should review the new standard now to prepare for the implementation date. Public entities will adopt the guidance for annual periods beginning after December 15, 2017, and private entities will adopt for annual periods after December 15, 2018, and interim periods after December 15, 2019.

Revenue recognition is not the only liability associated with customer loyalty programs. For more information about other risks, read the full article here.

If you have any accounting advisory needs, please contact Brad at bhale@cbiz.com or 727.572.1400.

June 9, 2015

CBIZ MHM Tampa Bay was proud to be a sponsor of the 2015 USF Accounting Circle Conference. The 2-day conference included presentations on a variety of accounting topics, including risk management, standard updates, cybersecurity in financial services, and audit quality.

Brad Hale, Managing Director of CBIZ MHM Tampa Bay, presented on where to start with revenue recognition to an audience of more than 550 attendees.

This annual event is hosted by the Accounting Circle and welcomes USF alumni and professional partners to participate in a hands-on continuing professional education conference. The mission of the Accounting Circle is focused on engaging the Lynn Pippenger School of Accountancy, enhancing student professional development, and promoting student and faculty success through impactful opportunities which engage the Tampa Bay business community in support of USF students and faculty.


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