Defining an Impaired Asset
Category Archives: Frank’s Corner
Defining an Impaired Asset
🖨 Print⏱ 3 min readWhen it comes to defining an impaired asset, its fair market value is worth less than the original cost of the asset – or, more formally, its carrying value. As a company re-evaluates its assets’ value, … Continue reading
How To Use Natural Language Processing To Improve The Efficiency Of Accounting Processes
🖨 Print⏱ 4 min readNatural language processing (NLP) is a technology that allows computers to understand and process human language. Processing of natural language is necessary when you want an intelligent device to follow your instructions. NPL is an artificial … Continue reading
Overhauling the National Tax System, Eliminating Oil Sales to China, and Criminalizing Late Abortion Attempts
🖨 Print⏱ 3 min readTo rescind certain balances made available to the Internal Revenue Service (HR 23) – Introduced by Rep. Adrian Smith (R-NE) on Jan. 9, this bill would rescind funds allocated to the Internal Revenue Service by the … Continue reading
Why You Might Not Need a New Budget for the New Year
🖨 Print⏱ 4 min readSo, we’re a month into 2023, and the sheen might’ve dulled from all your shiny New Year’s resolutions. Though diet and exercise are the top things you might want to change, there’s one you might not … Continue reading
Key Deadlines and Changes for the 2023 Tax Season
🖨 Print⏱ 3 min readEvery year, typically right after the new year starts, the IRS formally announces key dates and deadlines for the current tax season. Recently, the IRS made the announcements for the current 2023 tax season. To make … Continue reading
No-Heir Estate Planning
🖨 Print⏱ 4 min readEven if you have no heirs, you should have an estate plan. Otherwise, the state will determine the fate of your worldly possessions. In fact, if you pass away “intestate” (without a will), the state can … Continue reading
Understanding the Weighted Average Cost (WAC) Method for Inventory Valuation
🖨 Print⏱ 4 min readWhen it comes to businesses and their inventory and accounting methods for managing it, there are a few different ways to approach the task. The three different options to value inventory/implement cost flow assumptions, include: Last … Continue reading
Handling Talent Shortages in Tech Departments
🖨 Print⏱ 4 min readTechnology advancement has brought about great digital transformation. Unfortunately, this has come with a global tech talent shortage. IT executives highlight the shortage as a huge barrier to the adoption of emerging technologies, as reported by … Continue reading
Expanding Options for Marriage, Defense, Medical Marijuana, Amateur Athletes and Rail Workers
🖨 Print⏱ 4 min readRespect for Marriage Act (HR 8404) – Introduced by Sen. Jerry Nadler (D-NY) on July 18, this Act replaces previous provisions that defined marriage as strictly between a man and a woman. It codifies marriage to … Continue reading
5 Financial Resolutions You Can Live With
🖨 Print⏱ 4 min readFor the most part, New Year’s resolutions are hard to keep because many times you either list too many things or ones that aren’t manageable for the long haul – especially those that involve money. Here … Continue reading
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