Banner Image

Stacey Monson

Stacey Monson
Stacey has more than 12 years of public accounting experience providing audit, accounting, and financial advisory services to closely held businesses and their owners. She serves clients in a variety of industries including commercial real estate, hospitality, manufacturing, oil refining, professional services, start-up organizations, nonprofit organizations, and employee benefit plans. Stacey is actively involved with her clients through the completion of the engagement as well as throughout the year. She also plays a fundamental role on Sweeney Conrad’s committee for employee retention and creating a positive work environment, and is involved in employee recruiting.

Recent Posts

FAQs About Fair Value in Accounting

Posted by Stacey Monson on May 3, 2022 6:42:29 PM

In recent years, accounting rule makers have issued guidance that requires certain items on the balance sheet to be reported at “fair value.” Here are some answers to frequently asked questions about this standard of value and how it’s measured.

Read More

Goodwill in a Bad Economy

Posted by Stacey Monson on May 3, 2022 6:36:46 PM

In today’s volatile economy, many businesses and nonprofits have been required to write down the value of acquired goodwill on their balance sheets. Others are expected to follow suit — or report additional write-offs — in 2022. To the extent that goodwill is written off, it can’t be recovered in the future, even if the organization recovers. This makes impairment testing is a serious endeavor that usually requires input from your CPA to ensure accuracy, transparency, and timeliness.

Read More

Topics: Audit & Assurance

Rolling Forecasts Provide Flexibility in Uncertain Times

Posted by Stacey Monson on Dec 16, 2021 8:42:05 PM

Forecasting how your company is likely to perform over the next year can be challenging, especially when it’s unclear where the markets are heading. But accurate forecasts are critical when managing a business. For example, they may be used to order inventory, hire additional workers, apply for loans and credit lines, and evaluate investment alternatives.

Read More

Are You Ready for the Upcoming Audit Season?

Posted by Stacey Monson on Dec 16, 2021 8:22:56 PM

An external audit is less stressful and less intrusive if you anticipate your auditor’s document requests. Auditors typically ask clients to provide similar documents year after year. They’ll accept copies or client-prepared schedules for certain items, such as bank reconciliations and fixed asset ledgers. To verify other items, such as leases, invoices and bank statements, they’ll want to see original source documents.

Read More

Accounting for Paycheck Protection Program Loans and Forgiveness

Posted by Stacey Monson on Jun 30, 2020 1:53:11 PM

The American Institute for Certified Public Accountants (AICPA) recently issued a Technical Question and Answer (TQ&A) that provides guidance on accounting for loans issued under the Paycheck Protection Program (PPP).

Read More

Topics: Audit & Assurance, News, COVID-19

Accounting for Lease Concessions Amidst COVID-19

Posted by Stacey Monson on Jun 16, 2020 6:36:47 PM

-

The COVID-19 pandemic has forced the temporary closure, or a reduction of operating hours, of office buildings, shopping centers, restaurants, and other businesses. As a result, many lessors have, or will be, providing lease concessions to tenants who have faced economic disruption due to the COVID-19 pandemic. Lease concessions may vary in form, but payment forgiveness and deferral of payments are expected to be the most common types of concessions granted. As a result of lease agreements not containing provisions for rent concessions specific to COVID-19, in early April, the Financial Accounting Standards Board (FASB) issued a question-and-answer document (Q&A) addressing questions on the impact of the COVID-19 pandemic on lease concessions.

Read More

Topics: Audit & Assurance, News, COVID-19

Learn more about the services Sweeney Conrad offers