Speaker Bio: Mr. Wendroff founded Wendroff & Associates, CPA eight years ago with one founding principle: To truly be considered a Small Business Owner's Most Trusted Adviser, CPA's have to offer more than compliance.
Being an Entrepreneur is risky, we know it. That is why we take our responsibility to business owners as their trusted adviser to the utmost importance. Along with tax preparation services to ensure your business is compliant with all government standards, we create tax strategies to grow your business, and we develop your resources by connecting you with our vast network of experts in the banking, insurance, legal and financial industries. Also, we strive to provide your company with the most effective CFO consulting to maximize efficiency and profitability.
With that one guiding principle, our firm has not only grown each year, but more importantly we've also helped entrepreneurial business owners grow their businesses and reach beyond their goals. At Wendroff and Associates, CPA we measure our success by your success.
Specialties: Helping Entrepreneurs Grow their Businesses, Government Contractors, Associations, Non-Profits, Real Estate Companies, Medical Offices, Law Firms, Professional Service Companies, Franchises, S-Corps, C-Corps and Individual Tax Preparation â€‹
Time : Doors open at 10:45, Meeting 11:00 - 1:00; 1 CPE offered
A complimentary lunch will be provided. Location: Matthews Carter & Boyce 12500 Fair Lakes Circle Fairfax, VA 22030
Chapter Event - Accounting and VA Professional Update 12/17/19
Please join Northern Chapter VSCPA for an evening meeting to discuss the following topics:
4:00 PM - Registration opens,
4:30PM - 5:30PM : Credit loss standards – What public companies have done to prepare for 2020 Compliance and what we can learn from them
Presented by Chase Wright, CPA, Partner, Assurance and Advisory Services, Cherry Bekaert LLP, Nashville, TN
5:45PM - 6:45PM : The Path Forward for Leasing – ASC 842
Presented by Kevin Swatt, CPA, Manager with Clifton Larson Allen LLP (CLA), Arlington, VA
6:45PM : Chapter Business and Buffet Reception
2 CPE available
Credit loss standards, Chase Wright
ASB has delayed the implementation date for non-public companies, but the amended standard, ASC Financial Instruments—Credit Losses (Topic 326), provides an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. The presentation shares the burden and opportunity the amended standard creates for companies, along with the lessons learned from early change adoptees.
The Path Forward for Leasing – ASC 842, Kevin Swatt
While FASB has decided to delay implementation of the new standard for many filers, e.g., non-public filers, the delay does not alleviate the immediate need for many companies to begin to analyze and assess the planned changes to their accounting for leases. Commentators consider the changes to ASC 842 substantial. The new rules for leases adopt a principles-based approach and replaces the prior lease guidance that requires organizations to recognize a right-of-use asset and lease liability for most leasing arrangements. This presentation is designed to share key provisions of the new standard and how to apply the standard to various lease scenarios, and the reporting and disclosure requirement implications to financial statements.
Location: Fairview Park Marriott 3111 Fairview Park Drive Falls Church, VA 22042
Registration ends on December 12, 2019 There are currently 72 spots remaining out of 120