We are proud to share our FY 2019 Bennett Thrasher Foundation Annual Report. The purpose of the Annual Report is to share both the accomplishments and impact the Foundation has made in the Greater Atlanta area through monetary grants and volunteer projects.
Bennett Thrasher LLP, one of the country’s largest, full-service certified public accounting and consulting firms, has been awarded DFK USA’s Firm of the Year award. The award was presented to Bennett Thrasher at DFK North America’s annual conference on November 1, 2019 in Hawaii. Founded in 1962, DFK is a Top 10 international association of independent accounting firms and business advisers.
As was publicized earlier this month, FASB officially approved the deferral of the new lease accounting standard (ASC 842) for private companies for another year. The new effective date is for fiscal years beginning after December 15, 2020, or 2021 for calendar year companies.
A few of the BT Foundation’s recipients recently visited the office to meet with Foundation members and receive their grants. Among those recipients include Susan G. Komen, Share the Magic, Nic’s Kicks, Hope Thru Soap, and Crossroads Community Ministries.
Gina Miller, partner and leader of Value Acceleration & Exit Planning Services at Bennett Thrasher, has been accepted into Leadership Sandy Springs’ Class of 2020.
Bennett Thrasher’s talent acquisition team hosted close to 70 students for office visits to be considered for our 2020 internship program. We value the time students took to speak with our team and experience firsthand BT’s unique culture.
Tax compliance controversies can involve proposed tax assessments, tax collection or other IRS actions. While many taxpayers believe that the first decision in an IRS tax compliance matter is final, almost all decisions are subject to review by the IRS Independent Office of Appeals.
On Wednesday, FASB made the additional one-year deferral of the new Lease Accounting standard, as well as two others, official. These delays had long been sought by private companies as they attempted to implement the complex revised standards.
Bennett Thrasher Tax Partner Ben Miller recently spoke at a seminar at K&Y on transfer pricing. During the presentation, Miller shared the common mistakes made by multinational companies when pricing intercompany transactions and offered insight and simple steps companies can take to confirm their transfer pricing is appropriate and how to build an audit defense file.
In an article published in the September / October issue of Current Accounts, the official publication of the Georgia Society of Certified Public Accountants, Bennett Thrasher’s Marketing Manager Allie Donahue lays out the firm’s summer initiative to raise awareness for mental health wellness in the workplace and to give back to the community.
When the Financial Accounting Standards Board (FASB) finally revealed its new revenue recognition standard (ASU 2014-09 – Revenue from Contracts with Customers) back in 2014, the standard was beyond complex. As a result, the FASB formed 16 industry task groups (including one for construction) to clarify and explain the standard, and issued five related standards.
As a business owner, you probably think of all the things you would like to do once you sell your business and enjoy your next venture. Or perhaps you have plans to travel, learn new skills and achieve personal growth. To do all of these things, however, it is essential that you make plans now to strengthen the value of your business prior to exiting.