Blog | Albin Randall & Bennett
Recent Articles
CECL’s Legislative Journey and How Credit Unions Can Prepare
Current Expected Credit Loss (CECL) CECL is an Accounting Standards Update (ASU) introduced by the Financial Accounting Standards Board (FASB) in June 2016. The ASU
DOL Announced Final Rule on Overtime
Which employees of your business qualify for time and a half? It’s time to reevaluate that question, namely at the executive, administrative, and professional levels.
Exit Planning for Closely Held Businesses: Where Do You Begin?
Closely held businesses come with their own brand of benefits and challenges. Since there are generally only a few stockholders, often family members, owners are
Lease Accounting for Manufacturing Companies
In 2016, the Financial Accounting Standards Board (FASB) issued new guidelines for the way businesses of all sizes and industry types handle lease accounting to
NCUA Provides Credit Unions Simplified Auditing Requirements
Good news for smaller credit unions: a new regulatory change is set to provide greater flexibility around auditing requirements. The National Credit Union Administration (NCUA)
ARB Hosts Annual Open House
Albin, Randall & Bennett, a 2019 Best Places to Work in Maine, hosted its annual Open House on September 25, 2019. We were excited to
Business Planning Solutions: Maintaining Adequate Cash Flow for Closely-Held Businesses
The effects of the COVID-19 crisis brought an end to the longest run of economic expansion in US history, leaving many businesses searching for creative
A Path to Success: Back to Construction Business Basics, Part I
The effects of the COVID-19 crisis brought an end to the longest run of economic expansion in US history. The construction industry has been on
Considerations for ALLL Calculations and Regulatory Updates Affecting Credit Unions
When the economy is stable and it’s “business as usual,” it’s reasonable to assume historical experience can be used in estimating future outcomes. Conversely, periods
FinCEN Issues BSA/AML Due Diligence Guidance for Hemp-Related Businesses
On June 29th, the Financial Crimes Enforcement Network (FinCEN) issued new guidance in an effort to expand the financial services available to hemp-related businesses and
USMCA Replaces NAFTA: Provisions Benefit Small Businesses, the Automotive Sector & Manufacturing Companies
For merchandise entered into commerce after July 1st, the North American Free Trade Agreement (NAFTA) rules no longer apply. After almost 27 years of trading