- Proposed regulations revise the scope and definition of internal use software, making it easier to determine what qualifies for the R&D credit.
- Two new revenue procedures mean major modifications for accounting method changes.
- The new general requirements of Uniform Guidance and five methods of procurement most closely follow the previous OMB Circular 102, Grants and Cooperative Agreements with State and Local Governments.
- Your utility’s list of expenses for this month has just been approved for payment. If one of these expenses was for buying electricity or chemicals, you’d pay the bill and that would pretty much be the end of it. But if you purchased materials for use in the construction of an electric line or water main extension, buying supplies is only the first step when following proper accounting procedures. Why is plant accounting so complicated in the utility industry?
- Fixed asset management practices vary across the spectrum, from basic tracking of fixed asset items to the adoption of an asset life cycle methodology. Best practices are detailed in the ISO 55000 guide, Asset Management, which details standards gaining acceptance in the public and private sectors.
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