Articles & Publications

When it comes to calculating economic damages in legal cases, financial experts are tasked with discounting lost profits to their net present value. But determining the appropriate discount rate can be a complex process that requires a deep understanding. Read More >>

Accounting Today, the premier publication of the certified public accounting industry has again included BMF on the list of its 2023 Top Firms in the Great Lakes region – an area that includes the states of Illinois, Indiana, Michigan,. Read More >>

The U.S. Department of Labor (DOL) has recently modified long-standing rules regarding which plans are required to be audited annually for filings on Form 5500. The current rules, which will remain effective for 2022, require that any plan with. Read More >>

What Type of Financial Assets are Within the Scope of CECL? The scope of CECL is broad and includes the following: ITEM NATURE Loan Receivables/Notes Receivable Financial Assets measured at amortized cost Held-to-maturity debt securities Financial Assets measured at. Read More >>

CECL Background CECL refers to the credit impairment model provided in Accounting Standards Update (“ASU”) 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as subsequently amended. The ASU requires credit losses on. Read More >>

No, CECL is not applicable to equity securities. ASC 321, Investments – Equity Securities provides the applicable guidance for equity securities, including impairment considerations for securities without readily determinable fair values for which the measurement alternative has been elected.. Read More >>

Profit fade, or the decline of expected gross profits over the course of a project, can be a serious problem for construction companies. Not only does it directly erode the bottom line, but it is also an indication to. Read More >>

BMF’s status as an independent firm continues to give us a competitive advantage in serving our clients and in attracting and retaining the top-tier talent our clients rely upon. Clients want to know that we’re working alongside them in. Read More >>

We are proud to announce that we have again won the “Best of Accounting Award” for providing superior client service for the third consecutive year. ClearlyRated’s Best of Accounting® Award winners have proven to be industry leaders in service. Read More >>

Firm News We are proud supporters of United Way, which is evidenced year-over-year by our annual workplace campaign. In 2022, we exceeded our goal, raising more than $75K for United Way of Summit and Medina County and United Way. Read More >>