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Technology and Health & Life Sciences

Accounting for Cloud Computing Fees Amended

As part of its generally accepted accounting principles (U.S. GAAP) simplification efforts, the Financial Accounting Standards Board has issued an amendment to clarify accounting for fees when buying cloud computing services. Complementing the intangible assets guidance in the Accounting Standards Codification, Accounting Standards Update No. 2015-05, Intangibles: Goodwill and Other: Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement, helps entities and other organizations determine if a software license is part of a cloud computing agreement or should be recognized as a service agreement. Public entities must implement the new requirements for fiscal years, including. Read More.

Cherry Bekaert Markets Lead in Innovation

Ranking all 50 states’ innovation efforts, the Consumer Electronics Association (“CEA”) recently released the results of its inaugural Innovation Scorecard. Based on criteria reflecting areas such as welcoming new business models, attracting investment and having innovation-friendly sustainable policies, the states’ overall performance was split into four categories: Innovation Champions, Innovation Leaders, Innovation Adopters and Modest Innovators. Three of Cherry Bekaert’s geographic markets were named Innovation Champions (North Carolina, Virginia and Washington, D.C.), while three others were categorized as Innovation Leaders (Florida, Georgia and South Carolina). For the complete results of the 2015 Innovation Scorecard , visit the CEA website. Also check out our. Read More.

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Join Us for The Southern Series

Cherry Bekaert and THInc , our specialty practice focused on innovation, are pleased to support 36|86: The Southern Series, a new entrepreneurial event in Atlanta. The purpose of this event is to showcase 10 promising, young innovative companies to investors. For more information, check out the event flyer . Join us this Thursday, from 2:00 p.m. to 8:00 p.m. EST at Atlanta Tech Village. You won’t want to miss this event. One of these companies will be selected to advance to the regional conference in Nashville this summer. There is still time to register ! If your company is innovating, allow THInc to guide your company in the. Read More.

TAG Honors Top 40 Innovative Technology Companies in Georgia

On Wednesday, March 25th, the Top 40 Innovative Technology Companies in Georgia were honored at the 11th Annual Technology Association of Georgia (“TAG”) Summit. The TAG Top 40 Awards recognize Georgia-based technology companies for their innovation, financial impact, and efforts in spreading awareness of the state’s technology initiatives throughout the U.S. and globally. Cherry Bekaert (“the Firm”) is a Titanium Partner of TAG and a leading supporter of the Top 40 Awards.  Dawn Patrick , a Partner and leader of the Firm’s  Technology and Health & Life Sciences practice , was part of the selection committee for this year’s awards. According to Patrick, over 120 applications were submitted by. Read More.

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The 2015 Mergers and Acquisitions Outlook

In our analysis of survey data regarding the outlook of mergers and acquisitions, numerous indicators support the positive flow of acquisition and investment in 2015. Last year was remarkable in regard to completed transactions and the amount of capital raised across the technology, health and life science industries. Among CEOs, there are several key influencers predicting increased initiate acquisition or investment activities. The four most common themes include: Open market. Financial buyers are optimistic that there will be profitable operations becoming available for purchase, or those seeking an exit strategy. Global reach. In order to remain competitive, CEOs understand the. Read More.

COSO and SEC Issue Guidance on Cybersecurity

In recent weeks, the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) and Securities and Exchange Commission (“SEC”) have published new guidance to help organizations address and effectively manage cybersecurity. Announced in mid-January, COSO in the Cyber Age offers assistance on the 2013 COSO Internal Control-Integrated Framework and Enterprise Risk Management-Integrated Framework. Released as a research report, the document helps with the recognition and implementation of internal control components and principles. Written by Mary Galligan and Kelly Rau, COSO in the Cyber Age also stresses the importance of making cyber risk management a priority, and suggests that organizations ask the right questions. Earlier this week,. Read More.