By Matt McWhirter After many years of waiting, the FASB has finally released ASC 842, bringing major changes to the world of accounting for leases. One of the main goals of the new lease accounting standards is to bridge the gap between GAAP and IFRS accounting for leases. While the new standard does not completely align the two accounting methods, the gap between th [...]

By: Margaret Karren The Financial Accounting Standards Board (FASB) released an Accounting Standards Update (ASU) with the goal of simplifying and improving the not-for-profit reporting of net asset classifications, liquidity information, financial performance and cash flows. Net Asset Classes: Revised net asset classifications to two classes, net assets with donor re [...]

Kosher food seems to be everywhere these days. Whether you are watching a Hebrew National hotdog commercial on TV or eating out at one of the many kosher restaurants in LA, you can’t help but notice the proud labeling displayed on the many kosher food options available. Growing up in a kosher home, I was always told to check for the kosher label on a food product befo [...]

By: Blair Howard (Intern, GHJ) and Lauren Haverlock (Principal, GHJ) Managing executive compensation for the highest paid executives in any company can be difficult, but it becomes much more complex when discussing tax-exempt organizations. Not only must a nonprofit consider the effects of salary levels on the operating budget, the organization must strike a balance [...]

As an international tax expert, traveling to countries around the world gives me a perspective and sense of how other people live and do business. I’ve been to many countries in Europe (to some several times), as well as to Africa and China (including Hong Kong). Most recently, I went to Vietnam and Cambodia, and both countries were very different from the places I vi [...]

The following is adapted from a speech given by Donella at the Los Angeles Business Journal’s Women’s Summit on May 23, 2016 (GHJ was a sponsor). Donella is Board President of the Downtown Women’s Center, the only organization in Los Angeles exclusively dedicated to addressing the needs of women overcoming poverty and homelessness in Skid Row. Something very exci [...]

2015 was a record year for Chinese investments in Hollywood. They have grown rapidly over the past couple of years, and with significant deals such as TIK Films’ 3-year slated deal with Lionsgate, Bona Film Group’s 6-picture deal with 20th Century Fox and Huayi Brothers’ 18-picture deal with STX Entertainment, the Chinese investment market is set to soar to yet anothe [...]

Research shows that being positive positions you for success. A defining study of positivity was done by social psychologist Barbara Fredrickson at the University of North Carolina, Chapel Hill that applies science to positivity. The study found that the biggest benefit of positivity is an enhanced openness and ability to build skills and develop resources for use l [...]

During the last 10 to 20 years, “A-List” actors such as Arnold Schwarzenegger, who made famous the quote “Hasta La Vista Baby,” were consistently receiving “first dollar gross” (FDG) deals from most major studios. A FDG deal can be defined as all Revenues (with home video at the industry standard 20-percent royalty) less only “Off-The-Top” Expenses, which typically co [...]

Reflecting on our annual firm-wide Community Day last week, I am reminded of a saying we have here at GHJ: “Serving the nonprofit community is not just what we do; it is who we are.” Community service is a central part of the Firm’s identity, and we promote this company culture throughout our organization by contributing to various local charities (and not just once [...]