The Financial Accounting Standards Board (FASB) has issued two new accounting standards updates applicable to business combination accounting. The new guidance is aimed at improving the consistency of financial reporting for business combinations and reducing complexity in accounting for contract assets and contract liabilities. It is expected to provide more useful information to investors and…
Microsoft Build 2024 brought forward several exciting and important updates last week that showcase the future of AI, productivity tools and developer platforms. Here at Withum, we are excited about these new innovations as we continue to have AI Strategy conversations and guide our early adopter clients along their Copilot journey. Our Microsoft MVP and…
As a health plan sponsor, keeping up to date with the various service offerings that exist can be challenging, let alone knowing which are most applicable. This guide offers a concise overview of our common service offerings designed to assist plan sponsors in overseeing and monitoring their third-party service providers. These services can be conducted…
The Research & Development (R&D) Tax Credit is one of the most lucrative tax incentives that companies can take advantage of to lower their federal and state tax liability or offset their quarterly payroll taxes (i.e., FICA, Medicare). To properly calculate the R&D Tax Credit, you must calculate the total amount of U.S.-based qualified research…
When discussing AI at work, specifically Generative AI (Gen AI) and the future of work, there are significant opportunities for augmentation, acceleration, automation and analysis across various sectors: The future of work with Gen AI is likely to see a shift in job roles rather than a significant reduction in employment. Workforce development and training…
Effectively managing a health plan demands a constant flow of accurate, timely, and relevant data to the plan sponsor and its board. Integration of financial and non-financial data is key for a holistic understanding of the plan’s performance. Board reports, sourced from various entities such as accountants, actuaries, third-party administrators, and pharmacy benefit managers, require…
In my last blog, I walked you through my integration journey between Microsoft 365 and Google Workspace, as well as the switch from Okta to Microsoft Azure AD/Entra ID as an identity provider. In this second blog, I will share lessons learned on this process so you can tackle similar projects successfully. Please note that…
There is no doubt that artificial intelligence (AI) is going to revolutionize the legal industry, offering unprecedented tools to enhance the efficiency and effectiveness of a law firm’s operations. However, AI adoption without a proper roadmap is likely a recipe for disaster. The usage of generative AI in the courtroom has already sparked controversy across…
Withum is proud to share that Nadia Matthie, Partner, has been appointed to the American Institute of CPA’s (AICPA’s) Employee Benefit Plans Expert Panel. Nadia has more than 25 years of experience in the profession serving single-employer benefit plans, multiemployer benefit plans and labor unions. She specializes in various types of benefit plans, including defined…
Withum is excited to announce that Emily Egkan, Senior Manager, has been selected as a 2024 Women to Watch award winner in the Experienced Leader category at CalCPA’s Elevate: Women’s Leadership Forum. Emily has over 14 years of experience specializing in tax for construction, manufacturing, food and beverage, healthcare and technology industries. She is an…