USALI Guidance: How to Record these Puzzling Covid-19 Scenarios

Currently, the Uniform System of Accounts for the Lodging Industry, 11th Revised Edition (USALI) does not consider the possible alternative use of hotel assets during an international pandemic. To help guide hotels during this time, the USALI Global Finance Committee came together to collaborate and issue their recommendations for recording…

Silos and the Social Club

Written by: James J. Reilly, CPA, JD Albert Einstein is quoted as saying that¬†“[t]he hardest thing in the world to understand is the income tax.” Well, the computation of taxable income is getting harder, especially for tax-exempt social clubs. An omen of the complexity on the horizon was contained in…