Connecting Risk and Strategy: How Are U.S. Organizations Handling ERM Today?

  |  March 21, 2018

A just-released survey from the Pool College of Management at NC State University reveals that about one-third (32%) of organizations in the U.S. survey group do minimal to no formal assessments of strategic, market, or industry risks.

The survey has been conducted each year since 2009, providing an opportunity to observe shifts in trends. It covers a broad range of industries and provides some useful insights about the level of sophistication in risk oversight, highlighting many of the challenges associated with strengthening it. An increasing number of U.S. organizations embrace the concept of enterprise risk management (ERM), but there is noticeable room for improvement in how they are managing the process.

Read more about the changes in the marketplace that are likely influencing this trend at the Journal of Accountancy. Read More

What CEOs Should Know & Do About Cybersecurity

  |  March 16, 2018

During the past few months we have spoken with hundreds of companies’ chief executive officers (CEOs) from numerous U.S. and global industries, including financial services, healthcare, government contracting, automotive, manufacturing, private equity, and law firms, about the importance of cybersecurity. From these conversations, we have concluded that the three most frequently asked questions by CEOs are:

What should we know about cybersecurity? , what should we do about cybersecurity?, and how do we assess the quality of our cybersecurity program? Read more. Read More

How the New Tax Law Will Change Wealthy Americans’ Financial Plans

  |  March 9, 2018

To achieve your financial goals, your financial plan should be reviewed periodically to ensure it accounts for personal as well as macro-economic changes. This could not be more relevant given the recent passage of the Tax Cuts and Jobs Act. In fact, a recent poll conducted by the AICPA (American Institute of Certified Public Accountants) found that “three in five Americans said they’re very or somewhat likely to change their personal financial plans” as a result of the new federal tax law.

As you discuss your specific needs with your personal financial planner, the following article from the Journal of Accountancy details three strategies you may want to consider.

If you have any questions regarding the article or other issues related to your financial plan, please contact Paul Madrid at REDW Stanley. Read More

Contractors, Don’t Wait to Act on Revenue Recognition

  |  March 7, 2018

Jan. 1, 2019, is quickly approaching. For most privately held construction companies, this is the implementation deadline for the new revenue recognition standard, Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. The time to act is now, especially for contractors with projects lasting over 12 months. A contract that starts now, but extends into 2019, will be subject to the new standard. 

In discussing the implementation with many people in the industry, the responses range from “Can’t you just tell me what to do?” to “I just need to write a memo; we’re not changing anything.” Why is there such disparity in responses regarding the implementation of an accounting standard? Read more. Read More

How Tax Reform Will Impact Restaurants

  |  March 2, 2018

On December 22, 2017, the conference version of the tax reform bill was signed into law, marking the largest change to U.S. tax policy in decades.

With most of the provisions set to go into effect in 2018, it’s important that the restaurant industry review the changes that occurred during the conference process to understand the impact to their companies.

To help organizations navigate the key provisions affecting restaurants, we’ve summarized top considerations and implications. Read more. Read More

Top 10 Things Companies Need to Know About Tax Reform

  |  February 26, 2018

The $1.5 trillion new tax law represents the most sweeping change to tax code in a generation. Tax reform of this magnitude will have broad implications for businesses of all sizes and in all industries. While accountants and tax departments wade through the 185-page legislation, here are the top 10 things companies need to know. Read more. Read More

Tax Reform and Section 199A Deduction of Qualified Business Income of Pass-Through Entities

  |  February 26, 2018

On December 22, President Trump signed sweeping tax reform (the “Act”) into law. The Act provides the most comprehensive update to the tax code since 1986 and includes a number of provisions of particular interest to partnerships and their partners. This alert addresses the Section 199A deduction for qualified business income of pass-through entities. Read more. Read More

How the Tax Bill Impacts Homeowners

  |  February 19, 2018

The Tax Cuts & Jobs Act (TCJA) was approved by Congress December 20, 2017, and signed by President Trump on December 22, 2017. The Act impacts individuals and businesses in a way not seen in over 30 years. With most provisions effective 2018, it lowers individual and corporate tax rates, repeals numerous tax credits and deductions,... Read More

The Four C’s of Financial Planning and the Custody Rule

  |  February 16, 2018

As a wealth management company affiliated with REDW LLC, one of the largest regional CPA firms in the U.S., REDW Stanley Financial Advisors is able to offer our clients an array of financial planning services.

We assist clients in clarifying their vision, goals and objectives for their financial future. We assess and analyze where they are now, and then develop a written strategic plan with specific action steps that can help our clients achieve these goals and objectives and realize their vision.

In delivering financial planning services to our clients, we follow the Four C’s. Read more. Read More