Archive for July, 2014

30.07.2014 News, Personnel, Press

LMGW Continues to Grow

We are pleased to announce our new team member Michael (Mike) R. Johnson, CPA. Mike joins us as a Senior Accountant. Mike received his Bachelor of Science Degree in Business Administration/Accounting from San Jose State University in 2006. He worked with Abbott, Stringham and Lynch in San Jose, CA as a tax senior for five years, and most recently, from 2011 through 2014 as a Senior Business Management Accountant with Tanner, Mainstain, Blatt, Glynn and Johnson in Los Angeles, CA.  Mike’s wife recently completed medical school and they are happy to have returned to their home in the Bay Area.

Keith Plottel, CPA, Managing Partner, said, “We are excited to have Michael Johnson join our team, so we are able to expand our offerings to local businesses.”

11.07.2014 Accounting, Attest, News

New Accounting Standards for Revenue Recognition

The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have approved new accounting rules on recognizing revenue in customer contracts.  The new rules are principles-based, eliminating most of the industry specific revenue recognition guidance by generally accepted accounting principles in the United States of America. This change will remove inconsistencies in existing revenue recognition standards and improve comparability of revenue recognition practices over a range of industries and geographic boundaries to provide more useful information to users of financial statements.

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