Tired of Qualified Opinions?

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On February 19, 2014, the Financial Accounting Standards Board (FASB) voted to endorse yet another Private Company Council (PCC) alternative to GAAP. This time the alternative was aimed at relieving private companies of the burden of applying Variable Interest Entity (VIE) guidance when leasing from a company under common control. We see this many times with our clients and have issued many qualified opinions in this exact situation.

The PCC final proposal would allow private companies to opt not to apply VIE guidance when certain conditions exist, including:

  • The private company and the lessor are under common control.
  • There …read more

    Read more here: Government Contracting

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    Aronson LLC has been thinking ahead for its clients for more than 50 years. Aronson’s construction, real estate, government contracting, nonprofit, technology and private industry experts provide innovative audit, tax, and consulting services that help its clients move to the next level. From start-up to exit strategy, Aronson works with companies throughout the entire business lifecycle by proactively identifying opportunities and addressing challenges so that clients are able to focus on their core business. Aronson shows companies how to rethink everything to be more profitable, more competitive and better prepared for the future.

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