A Special Purpose Acquisition Company (SPAC) is a non-complex publicly-traded company that aims to acquire a private company. Fueled by a sudden upsurge in these…
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Green Accounting: Emerging updates in the Accounting Industry
As the threat and effects of global warming become more apparent, the need for green accounting is becoming more evident. The impact permeates every aspect…
Read MoreHow ESG Movement Affects Your Accounting and Financial Reporting
ESG criteria are playing an increasingly important role in business decision-making. From an accounting perspective, it is important to understand how ESG can impact your…
Read MoreFresh-Start Reporting Can Save Your Business
The bankruptcy process can be a long and difficult one. In the current economic climate, with many businesses facing financial difficulties, more and more companies…
Read MoreThe Rise of Digital Assets in Business
Companies are beginning to set foot into unconventional investments, such as Bitcoin, and Ethereum, which are cryptocurrencies, a form of digital assets. With their tremendous…
Read MoreThe Basics of ASC 842, Leases
The growing concern around the previous lease guidance, Accounting Standards Codification (“ASC”) 840, has finally been addressed as the Financial Accounting Standards Board released its…
Read MoreAccounting* for Cryptocurrency
Cryptocurrencies have been gaining more acceptance all over the world. For the past years, well-known cryptocurrencies such as Bitcoin and Ethereum have been stealing the…
Read More360° Approach to Libor Transition
What you need to know: London Interbank Offered Rate (LIBOR) ends on December 31, 2021. ASU 2020-04 – Reference Rate Reform (Topic 848) provides temporary…
Read MoreFASB Proposes Delay of Insurance Standard and Approves New ASU for Convertible Debts and NFP Reporting
On June 10, 2020, the Financial Accounting* Standards Board (FASB) proposed the delaying of the effective date of the standard on long-duration insurance contracts and…
Read MoreFinancial Accounting* Standard Board(FASB) Defers Effective Dates For Revenue Recognition and Leases Standards
On June 3, 2020, the FASB issued an Accounting* Standards Update (ASU) 2020-05, Revenue from Contracts with Customer (Topic 606) and Leases (Topic 842): Effective…
Read MorePPP Version 2.0: Updates on Paycheck Protection Program (“PPP”) Under the Consolidated Appropriations Act of 2021
On December 27, 2020, a second major economic relief package was signed into law. The Consolidated Appropriations Act of 2021 (the “Act”) included Additional Coronavirus…
Read MoreMain Street Lending Program Serves as an Alternative to PPP Funds Main Street
The Federal Reserve launches the Main Street Lending Program to complement the efforts to stimulate the economy through the survival of businesses, amidst prolonged losses…
Read MorePaycheck Protection Program (“PPP) Forgiveness Eligibility Changes After Approval of Flexibility Act
On June 5, 2020, President Trump has signed the PPP Flexibility Act (“PPPFA” or the “Act”) after unanimous approval of the Senate on June 3,…
Read MorePPP Loan Forgiveness – Navigating Businesses’ Next Steps
While the Federal Government is currently transitioning to the Round 2 PPP Loans, many businesses now ask the same question: “How do we turn this…
Read MoreMUST READ: 2nd Round of CARES Act Funding
The approval of the 2nd round of funding for CARES Act economic relief programs replenishes the pot for Paycheck Protection Program (PPP), Economic Injury Disaster…
Read MoreSBA Disaster Loan Assistance
Due to the severity of magnitude of the ongoing Corona Virus Disease 2019 (COVID-19) pandemic, the US President declared a state of disaster for all…
Read MoreCARES Act – Economic and Reporting Relief for Businesses and Individuals
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed by President Donald Trump on March 27, with the objective to combat COVID-19’s crippling…
Read MoreCARES ACT – What to Expect
The Economic Stimulus Package, CARES Act, aims to provide relief to individuals, businesses, and the economy in response to the grappling effects of COVID-19 to…
Read MoreSFO’S Support to Small Businesses in Response to Covid-19
Deferral of business taxes and licensing fees, launch of economic relief fund, and other support efforts aim to help struggling small businesses and workers due…
Read MoreAICPA Helps Consolidate State Taxes Filing Relief
The American Institute of Certified Public Accountants* (AICPA) is listing down series of recent developments by state regarding tax filings due to the effect of…
Read MoreConsiderations for the 2022 Inflation Reduction Act
In a landmark move, President Joe Biden signs the Inflation Reduction Act of 2022 into law, covering numerous provisions to address energy security and climate…
Read More8 Ways to Ensure Your Nonprofit Is Tax Compliant
US tax law is complicated, especially to nonprofit organizations (NPO). So to help you successfully navigate the complexities of today’s tax code, we have compiled…
Read MorePPP Version 2.0: Updates on Paycheck Protection Program (“PPP”) Under the Consolidated Appropriations Act of 2021
On December 27, 2020, a second major economic relief package was signed into law. The Consolidated Appropriations Act of 2021 (the “Act”) included Additional Coronavirus…
Read MoreHow the Consolidated Appropriations Act of 2021 Impacts Taxation of Businesses
On December 27, 2020, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law. The Act includes both COVID-Related Tax Relief Act of…
Read MoreMain Street Lending Program Serves as an Alternative to PPP Funds Main Street
The Federal Reserve launches the Main Street Lending Program to complement the efforts to stimulate the economy through the survival of businesses, amidst prolonged losses…
Read MorePaycheck Protection Program (“PPP) Forgiveness Eligibility Changes After Approval of Flexibility Act
On June 5, 2020, President Trump has signed the PPP Flexibility Act (“PPPFA” or the “Act”) after unanimous approval of the Senate on June 3,…
Read MorePPP Loan Forgiveness – Navigating Businesses’ Next Steps
While the Federal Government is currently transitioning to the Round 2 PPP Loans, many businesses now ask the same question: “How do we turn this…
Read MoreMUST READ: 2nd Round of CARES Act Funding
The approval of the 2nd round of funding for CARES Act economic relief programs replenishes the pot for Paycheck Protection Program (PPP), Economic Injury Disaster…
Read MoreIRS Extends More Tax Deadlines Due to Covid-19
In response to the ongoing situation due to COVID-19, the Department of Treasury and Internal Revenue Service announced that additional key tax deadlines for individuals and…
Read MoreSBA Disaster Loan Assistance
Due to the severity of magnitude of the ongoing Corona Virus Disease 2019 (COVID-19) pandemic, the US President declared a state of disaster for all…
Read MoreCECL Adoption Is Just Around the Corner – Is Your Business Ready?
The CECL model is intended to provide financial statement users with more timely and relevant financial information that is not just based on past events…
Read MoreLET’S GET THE CONVERSATIONS ROLLING.
Scrubbed continuously evolve it’s services to better suit your needs. As it expanded into professional services, tax compliance, and corporate finance, we continuously recruited technical experts from the Big 4, industry leaders, and executives. This created a resource pool of solution-driven and analytical think tanks, all committed towards the purpose of Scrubbed—to solve in a holistic manner our clients’ pressing needs.