Many states enacted significant statutory changes and issued important rulings on passthrough entities
calculate the full costs of a program using accrual accounting, recognizing both costs incurred within the reporting entity as well as interentity costs.
are controlled by pension plans that are required to report their investments at fair value.
What about a situation in which no one entity alone has the power to direct the activities of another entity to generate benefits for (or limit losses to) itself, but two or more entities
jointly exercise such power?
Now is the time for nonpublic entities
to analyze all tax positions--not only to comply with ASC 740, but a thorough review of all tax positions may lead to the discovery of more advantageous accounting methods.
In considering alter ego liability, courts generally look at factors such as (1) inadequate capitalization in the purported controlled entity; (2) the entities
' failure to observe corporate formalities; (3) commingling of funds by the entities
; (4) the absence of corporate records; and (5) the failure to maintain arm's-length relationships among the entities
Every CPA should be interested in this change because it affects those who are governmental auditors, on the boards of governmental entities
or have clients who sit on these boards.
There are firms that can do everything from helping companies establish manufacturing operations in industrial economies such as China and Russia to creating asset-protection entities
in such obscure places as the British Channel Islands, Anguilla, Nevis, Dominica and Belize.
The recent focus on limiting growth within NWCF entities
creates a danger that critical national capabilities will be lost.
Similar to the current rules, however, the proposed regulations provide that a domestic corporation can own a separate unit indirectly through both hybrid and non-hybrid entities
HIPAA requires organizations and individuals to protect a subset of individually identifiable health information, known as protected health information, or PHI, that is held or maintained by covered entities
or their business associates acting for the covered entity.