October 2014
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A Tribute to Elmer Selim

 

Elmer was a Certified Public Accountant, Certified Valuation Analyst, former partner at The Whitlock Company, trusted business advisor and long-standing member of the Springfield business community. Elmer was active in his faith as a member of the Church of Jesus Christ of Latter-day Saints in the Springfield area. An avid reader, some of his favorite pastimes were working in his yard, exercising, and walking on beaches with his wife. Read our full tribute to Elmer...

Moving due to a job change? There might be potential tax savings.

 

Moving expenses may have the ability to be tax deductible by individuals. There are three key criteria's that must be satisfied: the move must closely-related to the start of work; a distance test must be satisfied and a time test also must be met. Moving for personal reason is not considered a tax deductible moving expense and therefore should not be taken on a tax return. Read more here...
New Model for Revenue Recognition from Contracts with Customers

 

The Financial Accounting Standards Board issued its new revenue recognition guidance in Accounting Standards Update. It represents a single, global revenue recognition model and demonstrates the Boards' ongoing efforts on convergence of US GAAP and IFRS. The issuance of this guidance is the culmination of a near decade long project to develop converged revenue recognition principles. Read full recap here...
About Us: The Whitlock Company is a full-service CPA firm offering a range of professional tax, audit, accounting and management advisory services to the following industries: Community Banking, Real Estate, Manufacturing, Not-for-Profits, Higher Education and more. For more information, please contact us.

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