Five FAQs about Embedded Leases
#1: What is an Embedded Agreement? According to ASC 842, a contract contains a lease if, “the contract conveys the right to control the use of…
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Feb 21, 2023
News
Category: Accounting & Auditing
Jan 11, 2023
Setting New Year’s Resolutions: Is Your Business Ready for 2023?
As we kick off a new calendar year, now is the time that people tend to evaluate the past year, scrutinize where they are now…
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Nov 18, 2020
BMSS’ Year-End Tax Planning Letter
2020 has been a year filled with challenges and adversity like no other and has affected each and every one of us. The coronavirus global…
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Apr 03, 2020
Important Update on the Paycheck Protection Program
In the latest effort to help small businesses and individuals, the CARES Act was announced last week. This past Wednesday, the Treasury Department provided the…
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Mar 30, 2020
President Trump Signs Into Law CARES Act
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by…
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Nov 06, 2019
BMSS Welcomes Nationally Acclaimed Accounting Expert and Speaker, Michael Brand, CPA, CGMA to the Firm
BMSS, LLC is proud to welcome nationally acclaimed, accounting industry expert and speaker, Michael Brand, to the firm as its newest member. A resident of…
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Jul 05, 2019
GASB Simplifies Accounting for Capitalized Interest
By Susan Friend, CPA The Governmental Accounting Standards Board (GASB) Statement No. 89 (Statement), Accounting for Interest Cost Incurred before the End of a Construction…
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