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The Puerto Rico Workers’ Compensation Insurance Policy (CFSE by its Spanish acronym) establishes the payment of the preliminary premium in two semesters. It is the employers’ responsibility to comply with the payments within the dates established in order to maintain the validity of the current policy.

On November 2, 2021, the Puerto Rico Treasury Department issued the Informative Bulletin 21-09 to notify the changes made to Forms 499R-2/W-2PR and Informative Returns for the year 2021.

The amendments in ASU 2021-07 offer nonpublic entities a practical expedient to use when determining the “current price input” of an equity-classified sharebased payment award issued to employees and nonemployees. The current price input is used when calculating the award’s fair value.

COP26’s goal was to deliver radical change to save our planet. In the long term, there are good reasons to be hopeful.

The FASB recently issued ASU 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, creating an exception to the recognition and measurement principles in ASC 805, Business Combinations.

The Puerto Rico Treasury Department published a new version of the monthly Sales and Use Tax Return that should be used for the filing of the monthly Sales and Use Tax return corresponding to October 2021.

The mid-market’s real prioritisation of sustainability not only reflects the growing expectation of stakeholders but the forward-thinking nature of this entrepreneurial segment. But few companies have made significant progress and many still face significant barriers. Understanding how you can overcome these barriers and integrate sustainability into your strategy and business operating model will create competitive advantage in the years ahead.

Mid-market businesses around the world want to accelerate their ESG and sustainability journey. But they’re going to need support to do so. Peter Bodin, CEO at Grant Thornton International Ltd, outlines his point of view on what governments, policymakers and standard-setters need to do to enable the mid-market segment to play its part in achieving the COP26 goals.

The Puerto Rico Department of Treasury (now on referred as to “Hacienda”) has recently issued multiple official publications to address new tax developments or amend previous publications to clarify their intentions. In this article, we will address some of them.

Mergers and acquisitions require a mix of strategic and tactical work – cybersecurity is usually an item on the tactical list.

‘Uneven’ is how we described the impact of COVID-19 on different mid-market industries – both when assessing initial destruction in H1 2020 and the early recovery in H2 2020. Midway through 2021, it is really encouraging to see some of that unevenness disappear and more industries participating in the overall recovery.

Internal controls have traditionally been viewed as a requirement to avoid regulatory, legal and external audit/examination consequences. Rarely they are seen as a strategy for building business value and consumer confidence.

This publication summarizes the effective dates of FASB Accounting Standards Updates that are not yet effective for all entities.

Global business pulse

The Financial Accounting Standards Board recently issued ASU 2021-05 to amend ASC 842 so that lessors are no longer required to recognize a selling loss upon commencement of a lease with variable lease payments that, prior to the amendments, would have been classified as a sales-type or direct financing lease.

Six months ago, our global research led us to conclude that there was a ‘once in a generation’ opportunity for businesses to grow internationally. Normal opportunities bring the mid-market running. Once a generation opportunities bring a stampede, and this is exactly what has happened. A massive 45% of the global mid-market now expect their exports to increase in the next 12 months.