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Entries by Jason Patch

2011 Manufacturing and Logistics Scorecard

Posted 6:30 PM by
The 2011 Manufacturing and Logistics Report Card, presented by Conexus Indiana and Ball State University, has been released. The scorecard compares Indiana to other states in several key areas of the economy that underlie the success of manufacturing and logistics.
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IC-DISC Offers Tax Breaks for Exporters

Posted 12:00 PM by
If your closely held company earns significant income from exporting manufactured products - or from engineering or architectural services on foreign construction projects - consider forming an interest charge domestic international sales corporation (IC-DISC).
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Lease Accounting: One Model or Two?

Posted 8:44 PM by
In August 2010, the Financial Accounting Standards Board and the International Accounting Standards Board (the Boards) jointly issued exposure drafts tied to accounting for leases. The exposure drafts are an attempt to ensure that assets and liabilities arising under lease arrangements are recorded in the statement of financial position.
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AICPA's Financial Reporting Executive Committee Comments on Exposure Draft

Posted 7:41 PM by
On December 28, 2010, the Financial Reporting Executive Committee (FinREC) of the American Institute of Certified Public Accountants (AICPA) commented on the FASB's and IASB's (the boards) draft standard on leases, as presented in FASB's Exposure Draft of a proposed Accounts Standards Update (ASU) Leases (Topic 840).
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House Passes Small Business Jobs Act of 2010

Posted 12:56 AM by
The House has passed the Small Business Jobs Act of 2010. Approved by the Senate last week, the bill provides various provisions aimed to stimulate small business growth, including those in the manufacturing and distribution, life sciences, technology, and healthcare industries.
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Senate Approves Small-Business Tax Relief Measures

Posted 6:15 PM by
Last week the Senate passed a number of small-business tax relief measures as part of the Small Business Jobs and Credit Act. The bill will go back to the House of Representatives for further consideration (the House of Representatives passed a different version earlier this summer).
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FASB and IASB Publish Lease Questionnaires

Posted 3:04 PM by
In August 2010, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) published joint proposals to improve the financial reporting of lease contracts for public comment. The proposals could have a direct effect on those operating in the manufacturing and distribution industries.
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FASB's Proposal on Revenue Recognition

Posted 1:59 PM by
The Financial Accounting Standards Board's (FASB) proposed Account Standards Update (ASU), Revenue Recognition (Topic 605), would generally have minimal impact on those companies in the manufacturing and distribution industries.
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Exposure Draft on Leases Released

Posted 1:25 PM by
The US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have published for comment the following joint proposals to improve the financial reporting of lease contracts: FASB Exposure Draft (ED), Leases (Topic 840) and IASB ED, Leases (also released was a Basis for Conclusions by the IASB).
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Conexus Indiana - Manufacturing and Logistics 2010 Report Release

Posted 2:33 PM by
The Manufacturing and Logistics 2010 National Report grades states in several areas of the economy that underlie the success of manufacturing and logistics.
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