Accounting, Audit & Advisory

House Democrats delivered the final votes needed to send President Joe Biden a slimmed-down version of his tax, climate and drug price agenda, overcoming a year of infighting and giving themselves a cornerstone achievement to campaign on for the November congressional election. The legislation...

Ed. note: fans of accounting headlines are encouraged to sign up for our newsletter to get headlines delivered to your inbox twice a week. How to follow up after a job interview [Journal of Accountancy] You aced the job interview. What’s next? This is just one of many questions that have baffled...

The Trump Organization and its longtime chief financial officer, Allen Weisselberg, will go on trial Oct. 24 on tax fraud charges, after a New York state judge rejected their request to dismiss the case. The ruling and trial date capped a week of legal threats for Donald Trump. While he isn't a...

Deloitte Australia is trying to be transparent by releasing salary data but apparently this tactic isn’t working, not with Daily Mail writing headlines like Young Aussie reveals why many millennials no longer want to work in corporate jobs – after boomers said the generation was ‘lazy and...

Eide Bailly, a Top 25 accounting firm, and Conservis, a Minneapolis-based company that provides farm management software, are joining forces to combine the benefits of farm data optimization and effective economic decisions. Scott Schmidt, vice president of business development and partnership for...

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to provide guidance to tax professionals. Much of the content is aimed at those looking to grow past compliance work and into client advisory services. The page is split into three sections. One goes over the fundamentals of tax advisory work, including what it is, what kind of certifications are...

Tax preparation giant H&R Block reported that it beat its revenue expectations for the fiscal year that ended on June 30. But the Fiscal Year 2022 results are not comparable to the prior-year period, the tax prep giant said, as the 2020 tax deadline was extended to July 15, and as a result 15 days...

If there’s anything we love here at Going Concern it is an accounting firm dick-measuring contest. Or a “pissing match” should you prefer a milder phrase. Whatever you call it, we love when firms are pitted against one another based on impartial metrics like revenue. INSIDE Public Accounting has...

Self abuse; sufferin' sovereigns; 1 more thing 2 do; and other highlights of recent tax cases. Tarzana, California: CPA Bernard Turk has pleaded guilty to helping a client fraudulently obtain a $1.2 million COVID-19 business loan by preparing a false corporate return. Turk runs a tax prep business...

In the past several weeks we have heard — and read — about huge amounts of work getting sent offshore. To India mostly, also the Philippines. Outsourcing is nothing new and rather expected given today’s talent shortages but 30%? Perhaps more? Doing a quick search pulled up a 2011 Accountancy Age...

On Sunday, Aug. 7, 2022, the Senate passed the Inflation Reduction Act by a party-line vote of 51 to 50, with Vice President Harris casting the deciding vote, and Speaker Nancy Pelosi promising that the House would pass it on Friday, Aug. 12, 2022. Following long-term negotiations between Senators...

Former Treasury Secretary Lawrence Summers decried the stripping of a global corporate minimum tax from the Democrats' recent tax-and-climate change bill, a move that he said threatens a historic international agreement. "It's very sad how much special-interest lobbyists were able to stop things...

Although the implementation of new district taxes is beginning to level off, state and local rates are at an all-time high, according to a new report. "Last year, the pace we saw of districts and cities was nearly at a 10-year high," said Mike Bernard, vice president of content and chief tax...

The Internal Revenue Service is seeking to identify customers of cryptocurrency prime dealer SFOX Inc. as part of its efforts to force crypto investors to pay taxes on their holdings. In court filings in New York and Los Angeles, the tax authority asked federal judges to let it serve summonses on...

The level of morale in the [XYZ] office is at an all time low. Discussion with low level staff, through managers, have yielded the same opinion of overwhelming expectations without the needed support from the firm. They want us to draw blood from a turnip, and they want it done better, faster, and...

Donor-advised funds have been receiving more than half of their contributions from complex assets such as shares of public and private companies, real estate and cryptocurrency in the past five years, according to a new report. The report, released last week by the National Philanthropic Trust,...

The Senate passed Democrats' landmark tax, climate and health-care bill, setting up the legislation for House approval and President Joe Biden's signature. After more than a year of stop-and-start negotiations, Democrats on Sunday agreed to a narrow bill to invest in energy initiatives, curb drug...

President Joe Biden and Senate Majority Leader Chuck Schumer are the biggest winners now that a huge piece of Democrats' economic agenda is hurtling toward enactment. The tax and energy bill passed Sunday after a year and half of rocky negotiations that divided the party. It gives Democrats...

Second quarter 2022 earnings releases by major banks show vastly increasing provisions for credit losses: The Financial Accounting Standards Board's recent accounting standard update prescribing a current expected credit loss, or CECL, impairment model for financial assets forces the banks to set...

Often the legal ownership of a cottage does not reflect the practical reality of the cottage situation (for the remainder of this blog, I will refer to the “cottage” as this is the term commonly used in Ontario, but no disrespect is intended to owners of cabins and chalets - many of the same...