K·Coe Insights: Posts from category

Community Banks

Main street and Elm in Rogers, Arkansas

FASB Issues Goodwill Triggering Relief for Private & NFP Companies

By Sandy Sporleder | June 8, 2021
Reading Time: < 1 minute Due to the time consuming, difficult, and often costly analysis involved in testing goodwill impairment of a triggering event, FASB has issued a new standard to provide an alternative evaluation for private and not-for-profit (NFP) companies. Private and NFP companies can now elect to perform a goodwill trigger event assessment …

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accounting standard update leases

Accounting Standard Update: Delayed Effective Date and Its Effects on Leases

By KCoe Editorial | April 16, 2021
Reading Time: 3 minutes ASU 2016-02, Leases Update: FASB officially delayed the leasing standard effective date for non-public entities to December 15, 2021 (i.e., January 1, 2022). This standard may not only affect a bank’s balance sheet, but also the balance sheet of their customers. Overview of the ASU Lease Update Effects Effects on …

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What to Do with Fraudulent Unemployment Claims and Receipt of a 1099-G

By Kerry Hatzenbuehler | February 25, 2021
Reading Time: 2 minutes Scammers are taking advantage of the COVID-19 pandemic and states across the country are seeing an increase in reports of unemployment claim fraud due to identity theft. It’s important to know what to do – as family members, employees, and customers may be looking for help after receiving notice that …

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TEFRA Revisited: Be Careful to Consider Tax Implications

By Sandy Sporleder | February 25, 2021
Reading Time: < 1 minute As we’re preparing tax returns, we’ve noticed a lot more activity in non-bank-qualified bonds.  As you’re pricing these bonds, you’ll want to take into consideration the tax implications.  The projected yield may not be what you think it is. Over the years, there has been lots of discussion regarding the …

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Uptick in Community Bank Fraud Requires High Alert Right Now

By Heather Campbell | February 25, 2021
Reading Time: 2 minutes Statistics indicate that fraud has accelerated for community banks recently, and the uncertainty surrounding the impacts of the pandemic and election results seem to be the cause.  People are feeling anxious and many are desperate to make ends meet. Banks should be on high alert for both internal fraud with …

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modern-audit

A Look at the Modern Audit: Are You Missing Out?

By KCoe Editorial | February 23, 2021
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Reading Time: 2 minutes While most companies think of audits as an annual necessity, the vast majority typically keep to the same old standards and don’t know to ask for more. But the modern audit process has changed, and businesses should raise their expectations accordingly. Today’s audit should extend beyond bringing in accountants to …

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estate-tax-planning

Estate Tax Planning: Possible Changes Ahead

By Jim Rein | February 16, 2021
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Reading Time: 2 minutes No matter what the presidential outcome, there was never any question that the outlook for estate tax planning would be different in 2021.  How much different was dependent upon who controlled the presidency and the Congress.  With Democrats now in power on both of those fronts, the logical question now …

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