Author: Louise Giles

Charities are constantly having to navigate a changing landscape. The General Data Protection Regulation (GDPR) provides new data handling considerations for our clients and with it new potential risks. Concurrently, subsidiaries are having to take on new Gift Aid reporting requirements. Further, in our role as auditors, we are frequently advising our clients on year-on-year changes to reporting requirements. Below I summarise the topical key points and provide signposts for more depth of detail.

Read more: Charities and Not-for-Profit Update

Contact: Neil Cox

The recent address by the Secretary-of-State for Defra Michael Gove at the Oxford Farming Conference has provided some reassurance for farmers as to how farming subsidies will be dealt with after Brexit.

Mr Gove guaranteed farmers the same level of current EU subsidies until the 2022 election. There would then be a “transitional period” in England until 2024. Further detailing how the European Union’s Common Agricultural Policy (CAP) will be replaced Mr Gove said the CAP was “unjust” and “doesn’t really reward efficiency”.

Read more: Farming - The future, post Brexit

The Indian Union Budget 2018 has been presented recently in the Indian Parliament.

In the guide linked below, Ashok Maheshwary & Associates LLP presents the highlights of the non-tax proposals of the Indian Union Budget 2018 introduced by the Honourable Finance Minister. This is the last full budget by the current government before the elections. The budget focuses on agriculture, rural economy and healthcare.

Click here to view the full article.

Author: Marie Brilmyer

When a nonprofit organization combines with one or more other nonprofits, using the proper accounting treatment depends on if it is deemed a merger or an acquisition. Generally Accepted Accounting Principles (GAAP) differentiate between a merger and an acquisition as follows:

  • When the Board of Directors cede control of two or more nonprofit organizations and a new organization is created, a merger occurs.
  • When one organization obtains controls of one or more nonprofit or for-profit organizations, an acquisition occurs.

Read more: Accounting for Nonprofit Mergers and Acquisitions

In late March, TIAG Member ESV Accounting and Business Advisors and TAGLaw Member Piper Alderman held a seminar on Doing Business in China, providing valued clients and guests of the two firms with an overview of the current business environment on the ground in China.

The seminar was presented by Russell Brown OBE, Director and Treasurer of the Australian Chamber of Commerce in China and Managing Partner of TIAG Member Firm, Lehman Brown, a China-focussed accounting, taxation and business advisory firm.

Read more: China and Change – Insights from ESV, Piper Alderman & Lehman Brown's Doing Business in China...