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Thought-provoking insights on long-range organizational issues.

Wipfli is dedicated to business leaders and their organizations. We bring you thought-provoking articles on long-range organizational issues related to people, processes, technology, customers, and financial management.

2019: FASB’s year of reflection for Accounting Standards Updates

The past year seems be one filled with reflection for the Financial Accounting Standards Board (FASB).

During 2019, the FASB issued 12 Accounting Standards Updates (ASUs) — the majority of which either correct, clarify or defer ASUs issued in previous years.

That’s great news for those of us still coming to terms with the two biggest issues of 2019: revenue recognition and not-for-profit financial statement updates.

Jan 24, 2020
Services: Audit and Accounting
By: Sheila Border

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What are the best movies about accounting? We’re handing out “Wipflis”

With the Academy Awards right around the corner, we thought we would put an accounting spin on things and release our own awards for accounting movies: “The Wipflis”! We will give out six “Wipflis” in the categories below, voted on by over 300 Wipfli accountants. Enjoy.

Jan 24, 2020
Services: Audit and Accounting
By: Steven A. Jordan

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What craft brewers should know before collaborating with other businesses

Today’s craft beer industry is booming, and it’s becoming harder to stand out. Many craft breweries are turning to partnerships and collaborations, whether it’s with sports teams, coffee businesses or even distilleries.

If your craft brewery is looking to collaborate with another business, there are several factors to consider, questions to ask and best practices to follow.

Jan 24, 2020
By: Pat Tuley

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How GASB 87 changes leasing for tribal casinos

Leases are starting to make the headlines. Because leased assets are increasingly being recognized as off-balance sheet financing, regulators are setting the record straight with accounting standards.

In 2016, the Financial Accounting Standards Board (FASB) released Update No. 2016-02, Leases (Topic 842). Non-governmental organizations have to start following this standard by the calendar year 2021. Although tribal gaming operations are not affected, you might hear it referenced by your bank, financers or counterparts in commercial gaming.

Jan 23, 2020
Industries: Tribal Gaming and Government
Services: Audit and Accounting
By: Nik K. Wong

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Cybersecurity Weekly: Australia’s P&N Bank breached and Crytographic flaw in Windows 10

Each week, Wipfli’s cybersecurity professionals review the latest breaches, vulnerabilities, patches and updates.

Jan 22, 2020
Services: Cybersecurity

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How talent assessments can ID your future leaders — and retain mission-critical employees

We’re in the middle of a labor shortage. It doesn’t matter what industry you’re in, there just aren’t enough workers replacing those who are retiring.

So how do you gain and retain the talent your business needs during this labor shortage and into the future? You could respond a multitude of ways:

  • Recruit increasingly hard-to-find and expensive people outside of your organization.
  • Keep doing what you’re currently doing and potentially experience a competitive decline.
  • Develop the high-quality people already in your organization and grow your future leaders from the inside.

Jan 22, 2020
Services: Talent and Change
By: Julia A. Johnson

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How dealerships can meet GM’s cybersecurity guidelines

Ransomware and other types of malware can cripple a dealership, resulting in significant financial and reputational damage.

As cyberattacks continue to grow and become more sophisticated, automobile manufacturers and dealers alike are recognizing the importance of cybersecurity — and they’re placing new requirements for the safeguarding and protection of data.

Jan 20, 2020
Industries: Dealerships
Services: Cybersecurity
By: Jeff Olejnik

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Sports betting tops list of things for Indian gaming industry to watch in 2020

The impact of sports betting will continue to play a major role in the Indian gaming industry in 2020.

The NFL is on target to earn $2.3 billion annually from legal sports betting, according to the American Gaming Association (AGA). In addition, seven NFL teams currently have relationships with gaming operators and that number will continue to increase.

Jan 20, 2020
Industries: Tribal Gaming and Government
By: Grant Eve

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Final opportunity zone regulations released

The Treasury released the final opportunity zone regulations on December 19, 2019, giving investors a little time to digest the 544 pages in case they wanted to make any last-minute moves prior to year-end.

The final regulations combine the first two sets of regulations released in October 2018 and April 2019, as well as provide additional insight on many topics previously debated between investors, service professionals and others interested in this program.

Jan 16, 2020
Industries: Construction and Real Estate
Services: Tax
By: Dannielle Lewis, Josh A. Graham

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DoD adds critical verification component to defense contractor cybersecurity requirements

Recognizing the threat of cybercrime and nation-state-sponsored cyber espionage, the Department of Defense (DoD) is enacting new rules to expand cybersecurity requirements within its supply chain.

The new rules establish the Cybersecurity Maturity Model Certification (CMMC) and defines cybersecurity control practices and process maturity levels that organizations within the defense industrial base (DIB) sector must have in place. Notably, CMMC will be required in order to be awarded new contracts.

Jan 16, 2020
Services: Cybersecurity
By: Tom Wojcinski

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