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Tag: Arnold Macalintal

Financial Reporting Considerations: Interest Rates and Inflation

By Arnold Macalintal Overview  As companies prepare for year-end financial reporting, it’s important to consider the implications of inflation and rising interest rates, which can affect financial reporting in many ways, as discussed below. Many of the financial reporting areas affected involve impairment or valuation analyses, which often hinge on discounted cash flow models. As a result, developing estimates of future cash flows and related inputs (e.g., discount rates) may be...

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Pursuing the American Dream

By Arnold Macalintal Whenever I think of grit, determination, and more importantly giving, I think of my father, Teofilo Macalintal. My father grew up in the municipality of Alitagag in the province of Batangas in the Philippines. The family didn’t have much growing up and being one of 12 children, there was even less to go around. He found himself running around with gangs in his younger days and had the fading tattoos on his hands to show for it. He could have easily stayed on...

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Heads Up, Restaurants: Federal Relief Could Trigger a Single Audit

By Arnold Macalintal, Partner Since the outbreak of COVID-19, the restaurant industry has been one of the hardest hit by the pandemic’s impacts, leading to spikes in business closures, continued capacity limitations, and unprecedented loss in both jobs and sales. However, many establishments were able to keep their doors open and continue to serve customers throughout the course of the pandemic with the help of federal aid issued through the CARES Act programs, Restaurant...

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