Published October 28, 2010

Audit & Accounting Update

Pershing Yoakley & Associates, P.C. is pleased to present the March 2010 Audit & Accounting Update.  This publication is designed to provide direct access to current audit and accounting information that is most relevant to you.

FASB Recently Completed Projects

ASU 2010-11 – Derivatives and Hedging (Topic 815):  Scope Exception Related to Embedded Credit Derivatives. To view complete details, please click here.

U.S. Office of Management and Budget (OMB) Memorandum Calls for No Filing Extensions and Clarifies Stance on Late Filing for Auditee Risk Status

The OMB recently issued memorandum M-10-14, Updated Guidance on the American Recovery and Reinvestment Act.  On the surface, this memorandum appears to provide guidance related to the administration of awards received under the American Recovery and Reinvestment Act of 2009.  However, some of the provisions of the memorandum will affect all audits performed in accordance with OMB Circular A-133 (Single Audit).  To view the American Institute of Certified Public Accountants’ alert related to this memorandum, please click here.

PYA Healthcare Blog

The recently enacted Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act will significantly impact businesses and individuals alike.  We welcome you to visit our Healthcare Blog for timely posts regarding healthcare reform in manageable, understandable language.  Recent posts include an overview of the legislation, a summary of upcoming changes to individuals, a summary of upcoming changes to businesses, a summary of new requirements for tax exempt hospitals, and a summary of additional items included in the Healthcare and Education Reconciliation Act.  To view our Blog, click here.

If you would like additional information or have any questions, please contact the experts listed below at (800) 270-9629.

Executive Contacts

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