On May 28, 2014, the FASB and IASB issued their long-awaited converged standard on revenue recognition. There are significant changes coming for certain industries, including construction. Some of the areas that could create challenges for the industry and your company as you transition to the new standard include performance obligations, contract modifications, determination and allocation of transaction price, stand-alone selling price, contract costs, and disclosures. The new guidance on revenue recognition affects any reporting organization that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets unless those contracts are within the scope of other standards.
Recently, Susan G. Komen promoted the Pink Tie Guy initiative. Pink Tie Guys are men who are committed to the fight against breast cancer. As a Pink Tie Guy, they provide financial and personal support to the mission of Susan G. Komen® Western New York, and create awareness in the fight against breast cancer. Mark Collard, Managing Partner of Landmark Wealth Management, committed to being a Pink Tie Guy and had a “give-or-get” pledge of $500 and collected funds through October 2015. We are excited to announce that Mark raised $845 for the fight against breast cancer.
CTBK is very excited to sponsor Child Care Resource Network's Totally Tubular 80's Nite on September 11, 2015. Child Care Resource Network is a not-for-profit agency dedicated to early learning and development. Click the link for more details on this event.
On Thursday, September 17, 2015, we held a complimentary seminar focusing on issues affecting non-profit organizations. Due to the popularity of last year’s interactive foundation panel, leaders of Western New York’s largest private foundations joined us for an update on funding initiatives in the non-profit community. Additionally, we had an insurance industry update focusing on workers compensation insurance and employee wellness. Because of the nature of a tax-exempt organization, we discussed NYS regulations on investing as a non-profit and how it is unlike any other entity. Lastly, we presented on fraud and internal controls, and provided an accounting and tax update.
Click this article for additional information and seminar presentation.
Ronald McDonald House® of Buffalo, opened in 1983 with the single focus of providing a "home away from home" for families of seriously ill children receiving treatment at nearby hospitals. Since that time, more than 17,000 families from Western New York and Northwestern Pennsylvania, the country and the world, have benefited from the comfort provided by the our House.
On Monday, July 20th, the Helping Hands team participated in the Cooks for Kids program at the Ronald McDonald House. Our team planned and cooked a meal that was served to families of seriously ill children receiving treatment.
Sarah is joining us as the Director of Organizational Development. She is a dynamic results oriented leader with over 16 years of progressive human resource management experience in the accounting industry. Sarah has had exceptional success in identifying, recruiting students and developing top performers that consistently deliver the highest business results. She has a proven ability to identify, develop and execute business initiatives as well as tailor solutions to meet individual needs. Sarah graduated from State University of Buffalo with a BS in Psychology and a minor in Human Resources Management.
Hawk Creek Wildlife Center is an accredited wildlife sanctuary. They are a non-profit group without public funding, primarily staffed by volunteers, yet they successfully rehabilitate hundreds of animals each year for release into the wild while offering permanent sanctuary to over seventy non-releasable animals.
On Friday, June 26th, our Helping Hands crew was at Hawk Creek Wildlife Center in East Aurora. They are in the process of relocating and rebuilding their center, the winter took a heavy toll on their existing facility so they are trying to get the animals moved ahead of schedule before next winter. Our volunteers helped rebuild homes for their animals.
Our office annually participates in the J.P. Morgan Corporate Challenge in Buffalo. The challenge is a 3.5-mile run/walk in Delaware Park. This year our team competed against 396 teams with 11,914 runners. After the run, our team got together for a cookout and shared fun stories about the day. Look for us at the challenge next year.
Click here for photos.
The Buffalo and Erie County Botanical Garden is a living museum dedicated to advancing appreciate for and knowledge of plant life and its connection to people and cultures through its documented living plant collection, historic conservatory, education, research and exhibits.
On June 12, 2015, volunteers from our Helping Hands team went back to help the Garden beautify their landscaping. Volunteers planted annuals that will be there for visitors to enjoy for years to come.
From Friday, April 24th through Friday, September 4th, our firm will participate in Dress Down Fridays to support different charitable organization each week.
So far, we have supported the following causes:
- April 24: MS Walk. Lynne Gross, Tax Manager, has participated in the MS walk in honor of her mother for 12 years. Her mom was diagnosed with MS in 1995 and she lived with its affects until her passing in 2003. This was Lynne’s 13th year waking in her memory.
- May 1: The YWCA of Niagara Frontier Domestic Violence program. They have saved thousands of lives and have provided safety and resources for countless women and children.
- May 8: Ride for Roswell. Valerie Kaufman, Senior Accountant, will be participating in the Ride on Saturday, June 27th in memory of her mom. This is her 3rd year of participating.
- May 15: The Massachusetts Avenue Project. The Massachusetts Avenue Project proudly hosts the Growing Green Program, a youth development and urban agriculture program about increasing healthy food access and improving our communities.
- May 22: Evergreen Health Services of Western New York. In memory of our own Rosemarie Steeb, who passed on May 21st, we are donating this week's collection to Evergreen. Evergreen is on the front lines of the fight against HIV/AIDS. Rosemarie had someone very dear to her who has successfully battled this disease for 15 years and it is organizations like Evergreen that has provided invaluable support on her journey.
- May 29 / June 5: Hope for Two. Hope for Two...The Pregnant with Cancer Network is dedicated to providing women diagnosed with cancer while pregnant with information, support and hope. This organization was created by Molly Murray's (our receptionist) mother after being diagnosed with stage 3 breast cancer while pregnant in 1996.
- June 12: Hawk Creek Wildlife Inc. Hawk Creek is dedicated to creating and knowledge of the natural world and its relationship to humankind through conservation of the earth's wildlife, environmental education, wildlife rehabilitation, and sanctuary for animals.
- June 19: Cradle Beach Camp. For 125 years Cradle Beach has served thousands of children with disabilities and those who come from some of the poorest sections of Buffalo and Western New York. Cradle Beach offers three unique programs that meet the educational, social, emotional and physical needs of each child while helping those children achieve their full potential in life.
- June 26: Hospice Chautauqua County. In memory of our own William "Bill" Karin, who passed away on June 13th, our collection will be donated to Hospice Chautauqua County. Hospice Chautauqua County is dedicated to restoring comfort, dignity and control to the lives of patients and families in Chautauqua County facing a serious or terminal illness, as well as educating our community about palliative and hospice care.
- July 1: Hasek's Heroes. Hasek’s Heroes provides a foundation of athletic development and educational support, enabling children from low to moderate income families to achieve their future life goals. It provides them the opportunity to learn basic skating and hockey skills and, for those with the aptitude and commitment, the opportunity to participate in the tiered hockey development program. Hasek’s Heroes works in partnership with the Buffalo Public School System to promote academic achievement as an integral component of athletics.
- July 10: AFS Intercultural Programs. AFS Intercultural Programs supports intercultural exchanges to promote peace and understanding between people of all cultures from all over the world. Tax Principal, Gina McDonough, has been involved with the organization for 10 years. In August 2005, her family hosted their first international student and have hosted 5 more students since then.
- July 17: Wings Flights of Hope Inc. Wings Flights of Hope helps people in need of free air transportation for medical and humanitarian purposes. Wings does not want transportation to stand in the way of a patient receiving the best possible treatment available.
- July 31: The Ronald McDonald House of Buffalo. The Ronald McDonald House is a community supported organization dedicated to children and their families by offering a "home away from home" by providing lodging and emotional support for families of children receiving medical treatment in Buffalo. In addition to this week's donation, our Helping Hands crew particpates in the 'Cooks for Kids' program. Volunteers for this program shop and prepare meals for the guests staying at the House.
- August 7: Compass House. Compass House provides runaway, homeless and street youth with safe shelter and services, through a voluntary and mutually agreed-upon process, in an environment that supports dignity, respect and self-reliance. In a context where young people live in unsafe homes, on the edge of homelessness and with few options, we consider our mission a vital one.
- August 14: Miles for Smiles - Going the Distance for Kids. Miles for Smiles benefits the Craniofacial Center of Western NY and the Comprehensive Oral Health for disabled Youth Program at Women and Children’s Hospital of Buffalo. Their mission is to improve the quality of life for patients with special needs and craniofacial anomalies through fundraising for education and support.
- August 21: Pink Tie Guy - Susan G. Komen Western New York. Through the end of October Susan G. Komen is promoting the Pink Tie Guy initiative. Pink Tie Guys provide financial and personal support to the mission of Susan G. Komen® Western New York, and create awareness for the fight against breast cancer. Landmark Wealth Management's Mark Collard is committing to a “give-or-get” pledge of at least $500 and collect funds through October 2015.
- August 28: Habitat for Humanity. Tax Senior Manager Joanne Bender has worked on the board the past four years, assisting with the financial reporting and getting more information to help with decision making. Her assistance has lead to some significant changes in house pricing and matching families with houses they can afford. Habitat Buffalo is always looking for volunteers to help in many different ways.
- September 4: Brian Blesy Memorial Scholarship - Community Foundation for Greater Buffalo. Tax Supervisor Lisa Szarleta and her family started the fund for this scholarship in 1998 with help from the Community Foundation for Greater Buffalo in memory of Lisa's brother who played football with the spirit that showed his love of the sport. This scholarship is given out to a Springville-Griffith Institute graduating Senior who not only played football, but played it with a great love of the sport like Brian did. Over the last few years, this scholarship has been one of the largest given out at Springville’s high school graduation and we will be increasing the scholarship amount next year. This has helped to keep Brian’s memory alive and helped those pursuing football in college. On Saturday, September 12, 2015, the 13th Brian Blesy Memorial Golf Tournament and Picnic will be held at Concord Crest in East Concord.