In early 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) on leases. ASC 842 brought huge changes to public and non-public companies. The purpose of these changes was to enhance the financial statement disclosure and visibility into the leasing obligations, because prior to ASC 842 most leases were not reflected on the balance sheet. The new lease standard requires companies to report right-of-use (ROU) assets and liabilities for almost all leases onto the balance sheet, which is estimated at trillions of dollars! With ASC 842, most leases are now required to be recorded on the balance sheet, which has added some complexities for lessee and lessor financial statement reporting and Read More...
Archives for May 2022
Meet Our Expert: Amanda Jewell
Title: Senior Auditor How long have you worked at Christianson PLLP? Since July 2020 What service lines do you manage and support? My primary responsibility is supporting the Christianson Compliance team by performing LCFS Validations and Verifications examinations and RIN attest engagements. I also support financial statement audits, provide development of grant applications and business plans, and aid clients in securing funding for projects. What is your educational background? I earned my B.S. in Accounting with an emphasis in Accounting Information Systems from Bemidji State University in 2006. My licenses and accreditations include CPA, LCFS Lead Verifier, OR CFP Lead Verifier, ISO 9001, Lean Practitioner, and Lean Six Sigma Read More...
Carbon Capture + Sequestration: Preparing for Our Carbon Neutral Future
Carbon Capture and Sequestration (CCS) is becoming an increasingly hot topic in the renewable fuels industry, especially as companies progress with construction of on-site carbon capture facilities. The energy industry is in the midst of a global decarbonization transformation as companies of all sizes pursue new opportunities such as CCS as a viable option to achieve their carbon reduction goals. With economic incentives like 45Q and the Intergovernmental Panel on Climate Change (IPCC) identifying CCS as key to mitigating the impacts of climate change, the soaring demand for CCS shows no signs of slowing down. North America is currently the global leader, accounting for 50% of all active CCS projects with 16 commercial facilities currently Read More...
Unemployment Insurance and Frontline Worker Bill Passed by Minnesota Legislature Signed into Law
Minnesota Governor Tim Walz has signed a bill passed by Minnesota state with benefits you need to be aware of. Details are still coming out as they set up applications and make retroactive changes; here is what we know. Frontline Worker Pay Are you a frontline worker? Did you work at least 120 hours doing so between March 15, 2020, and June 30, 2021? You may be eligible for Frontline Worker Pay! They are currently creating an application process for this one-time payment. They will be providing all eligible applicants an equal payment, with a maximum of $1,500. Employers will need to pay attention for when Minnesota releases this application, as they are required to notify employees with 15 days of its availability. Unemployment Read More...
Ask the Experts – Value Added Opportunities for the AG Industry
Ask The Experts Segment On May 6th, 2022, Joel Gratz, Managing Partner here at Christianson, and Bradley Pederson, joined Bill Dean on KWLM during the "Ask the Experts" segment. This month, Joel, Bradley, and Bill took a minute to chat a little about Value Added Opportunities. Listen Here! Read More...