Accounting, Audit & Advisory

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Get Me the F*ck Out of Here: The Art of Saying Goodbye to Your Crappy Old Job - Going Concern
goingconcern.com Jun 14, 2019
As we’ve progressed in this series about quitting your terrible public accounting job and moving on to bigger and better things, I’ve looked forward to this post more than any of the others. Why? Because we have collected some funny-ass farewell...
$50 Million Fine SEC Is Reportedly Giving KPMG Over PCAOB Scandal Isn't Big Enough - Going Concern
goingconcern.com Jun 14, 2019
Dave Michaels of the Wall Street Journal broke some huge news late last night about a huge fine the SEC could levy against KPMG later this month because of several former partners’ involvement in one of the biggest U.S. accounting scandals in...
Xero appoints Hubdoc's Jamie McDonald new GM of product
www.accountingtoday.com Jun 11, 2019
Xero has appointed Hubdoc co-founder Jamie McDonald as executive general manager of product, accounting and global services. McDonald will continue in his role as co-CEO of Hubdoc, which Xero acquired in August 2018. McDonald’s appointment comes...
Accountants Behaving Badly: Lots of Theft, Ponzi Scheme, Tax Evasion - Going Concern
goingconcern.com Jun 10, 2019
Here’s a roundup of some bad stuff accountants did or were accused of doing over the past week or so. Auto shop accountant charged with stealing over $175K from employer [Chicago Sun-Times] Rungnapa Correia is accused of stealing more than $175,000...
IRS to stop faxing tax transcripts
www.accountingtoday.com Jun 4, 2019
The Internal Revenue Service said Tuesday it plans to end faxing of tax transcripts in June, as well as stop third-party mailing of tax returns and transcripts in July, in an effort to curb identity theft. The IRS noted that tax transcripts have...
Georgia CPAs lobby Capitol Hill
www.accountingtoday.com Jun 3, 2019
Members of the Georgia Society of CPAs were among the accountants who recently visited their state’s representatives in Congress to push for legislative priorities during the American Institute of CPAs’ Spring Meeting of Council. The Capitol Hill...
PwC South Africa Executive Learns That Being a Racist D-Bag In an Airport Will Get Your Fired - Going Concern
goingconcern.com Jun 3, 2019
Protip: If you’re an entitled, old, racist white guy, it’s not wise to go on a rant against black people in an airport when the whole world can whip out their smartphones and record you being a douchebag. That’s what happened last Thursday evening...
Should I commute my pension?
thebluntbeancounter.com Jun 3, 2019
My name is Mark Goodfield. Welcome to The Blunt Bean Counter ™, a blog that shares my thoughts on income taxes, finance and the psychology of money. I am a Chartered Professional Accountant and a partner with BDO. This blog is meant for everyone,...
Get Me the F*ck Out of Here: Job Searching While Still on the Job - Going Concern
goingconcern.com May 31, 2019
Welcome back to Get Me the Fuck Out of Here, our series on getting the hell out of your horrible public accounting job and into that greener grass on the other side. So far we’ve covered getting your resume in order and whether or not you should...
Two KPMG U.K. Female Partners Had Enough Of Working At a Firm That Protected An Alleged Bully - Going Concern
goingconcern.com May 30, 2019
Last December we learned that the Big 4 firms across the pond sacked nearly 40 partners (probably all men, although we don’t know for sure) within the past four years for inappropriate conduct, such as sexual harassment and bullying, seven of whom...
Bookkeeping - Balance Sheet and Income Statement are Linked | AccountingCoach
accountingcoach.com May 28, 2019
The balance sheet is one of the four main financial statements of a business: The balance sheet reports a company's assets, liabilities, and stockholders' equity as of a moment in time. (The other three financial statements report amounts for a...
Navigating through under-the-radar IRS guidance on 199A qualified business income
www.accountingtoday.com May 24, 2019
On April 11, four days before the filing deadline, the IRS quietly added 21 questions to its website page of frequently asked questions about issues related to Section 199A, the new 20 percent deduction for pass-through businesses. While...
Attending niche trade shows is a powerful marketing tool
www.accountingtoday.com May 24, 2019
Setting up your firm to focus on serving the accounting needs of a specific industry, or special service, is a powerful way to set your accounting practice apart from the rest. This approach establishes your firm as one with an edge over...
Firms on the move: RSM launches second Industry Eminence class
accountingtoday.com May 24, 2019
Bowman bestows a scholarship honoring a late partner; the AICPA appoints a new chair; and more CPA news. Awael Al Bahrain Management Consultancy entered a collaboration agreement to become a member firm of the international association Andersen...
Armanino opens AI lab
www.accountingtoday.com May 24, 2019
Armanino LLP, a top 25 firm based in California, has opened an AI Lab. The lab is aimed at demystifying artificial intelligence for executives looking to implement the technology in their businesses. Months in the making, the Armanino AI Lab will...
People on the move: Baker Tilly announces promotions
www.accountingtoday.com May 24, 2019
BKD appoints national industry partner; RSM hires principal for IT due diligence; and other recent hires, promotions and personnel news from firms across the country. Bob Belshe was promoted to audit partner-in-charge at Sensiba San Filippo,...
Congress introduces bill to provide tax relief after natural disasters
www.accountingtoday.com May 24, 2019
Lawmakers in the House and Senate have introduced bipartisan legislation to give the Internal Revenue Service more authority to provide tax relief for taxpayers who have to make tax payments or file their taxes after a state-declared natural...
House passes bill to help workers save for retirement
www.accountingtoday.com May 24, 2019
The House passed legislation Thursday to help workers at small businesses save for retirement, while also fixing a glitch in the Tax Cuts and Jobs Act that imposed the kiddie tax on Gold Star families and children of deceased service members. The...
Tax Fraud Blotter: An ID is a terrible thing to waste
accountingtoday.com May 24, 2019
Flag on the play; range of misdeeds; economic development; and other highlights of recent tax cases. Fair Oaks, Calif.: Tax lawyer Hiram M. Martin, 71, who represented retired professional football player Antrel Rolle, has been sentenced to three...
Retiring at a Market Peak – Why it May Not Be as Bad as You Think
www.thebluntbeancounter.com May 20, 2019
My name is Mark Goodfield. Welcome to The Blunt Bean Counter ™, a blog that shares my thoughts on income taxes, finance and the psychology of money. I am a Chartered Professional Accountant and a partner with BDO. This blog is meant for everyone,...
Working Capital and Liquidity Explanation | AccountingCoach
accountingcoach.com May 16, 2019
Working capital is defined as current assets minus current liabilities. For example, if a company has current assets of $90,000 and its current liabilities are $80,000, the company has working capital of $10,000. Note that working capital is an...
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