Abraham Lincoln 1863 (twlncn63) by Greg Goebel is in the public domain (CC0 1.0)
A tribute to the memory and legacy of Abraham Lincoln as we remember his birth on February 12, 1809.
The Gettysburg Address, presented at the Lincoln Memorial Shrine in Redlands, California on February 8, 2020.
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Posted by Jim Ulvog
Image courtesy of Adobe Stock.
FASB has provided an explanatory article and video for the exposure draft on gifts-in-kind disclosures.
The ED would require presenting GIK on a separate line of the statement of activity and additional disclosures in the notes. Most significant new disclosure would be the valuation techniques and inputs used for calculating value of the GIK.
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Posted by Jim Ulvog
Image courtesy of FASB under Fair Use.
The exposure draft will require the amount of donated nonfinancial assets to be disclosed on a separate line in the statement of activities. Some additional disclosures will be required. The main new disclosure is the technique and inputs used to value the GIK along with the principal market for the items.
The draft is titled Not-for-Profit Entities (Topic 958) / Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets.
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Posted by Jim Ulvog
White-Gravenor Hall of Georgetown University, Washington DC, USA. Image courtesy of Adobe Stock.
Fourteenth sentence for a parent in the college admissions scandal was handed down today. Also, feds have recommendations for the next three parents already scheduled for sentencing, which will be heavier than previous cases.
The LA Times provided an update on federal recommendations on 2/4/20: Admissions scandal: Prosecutors seek longest prison sentences yet for four California parents.
Prosecutors assert the four worked on the scheme for 11 years, cumulatively paying $1.6M to help out nine children.
Recap of status for these four, each of whom have pleaded guilty on two felony counts:
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Posted by Jim Ulvog
Perhaps a couple weeks late, but too good not to mention:
Credited to the South Kitsap High School vocal group in Port Orchard, Washington.
Hat tip: Behind the Black.
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Posted by Jim Ulvog
Federal Trade Commission Building in Washington, DC. Image courtesy of Adobe Stock.
How much does it cost for a pharmaceutical company to get one new drug onto the market? As with all variations of “what does it cost” questions the answer is complicated. Any such answer requires explanation of what the calculation means.
Other posts discussing this issue:
According to a 2016 study by Tufts Center for the Study of Drug Development, here is their calculation of what it takes to get one compound to the point of where it is approved for sale:
The study was based on a random selection of 106 drugs from 10 pharmaceutical companies. Since that is a random selection presumably the calculation would apply to all medicines.
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Posted by Jim Ulvog
Image courtesy of Adobe Stock.
On 12/31/19 the IRS published the reference amounts for mileage rates for 2020. Their announcement:
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Posted by Jim Ulvog
