Accounting, Audit & Advisory

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CFOs steering companies through coronavirus crisis, IMA finds
accountingtoday.com Apr 3, 2020
Chief financial officers are playing a key role in helping their companies cope with the fallout from the coronavirus pandemic and the economic devastation its causing, according to officials from the Institute of Management Accountants. As the...
Coronavirus rescue plan for U.S. small business kicks off beset by concerns
accountingtoday.com Apr 3, 2020
The Trump administrations $349 billion small-business rescue kicked off Friday surrounded by concerns about its ability to handle an expected flood of applications and deliver enough aid to mom-and-pop firms hit hardest by the coronavirus...
Make the move to a culture of quality audits
accountingtoday.com Apr 1, 2020
Henry Wadsworth Longfellow once said, It takes less time to do things right than to explain why you did them wrong. However, many audit firms think about quality as a task carried out at the end of the audit by the quality control reviewer. The...
Staffing a wealth management practice
accountingtoday.com Mar 31, 2020
The wealth management business as we currently know it is far less mature than the CPA or legal professions. After all, the Certified Financial Planner certification was only born in 1972 and the Certified Financial Planner Board of Standards was...
Major changes in RMDs and retirement contributions in $2T stimulus plan
financial-planning.com Mar 27, 2020
In addition to the catastrophic health situation caused by coronavirus, many of your clients are also getting hurt financially, especially in their retirement accounts. You may be able to help them take advantage of several new relief provisions...
Senate coronavirus relief package includes CECL delay
www.accountingtoday.com Mar 26, 2020
The $2.2 trillion package passed by the Senate on Wednesday night includes a provision that would allow banks the temporary option to delay compliance with the credit losses accounting standard until either the end of the year or the end of the...
Senate approves $2.2T coronavirus rescue package with tax breaks
www.accountingtoday.com Mar 26, 2020
The Senate voted 96-0 late Wednesday to approve a sweeping $2.2 trillion stimulus package to help the nation emerge from the coronavirus pandemic. The CARES Act package includes recovery rebates of $1,200 for individual taxpayers and $2,400 for...
Tips For Working From Home From Experts In the No-Pants Lifestyle - Going Concern
goingconcern.com Mar 25, 2020
Hi there, Going Concern faithful. How is everyone? Hanging in there? I hope so. So look. Bramwell and I realized the other day that you guys new to regular work from home (WFH) which is pretty much most of you might need some tips on how to...
Time out: How the deadline postponement is affecting tax preparers
www.accountingtoday.com Mar 24, 2020
The pandemic has officially pushed filing day for the federal government and a growing list of states into the summer. As its done to many other aspects of society, the outbreak has also upended the definition of reprieve for preparers. Is it a...
FASB may need to revise CECL to deal with coronavirus fallout
www.accountingtoday.com Mar 23, 2020
The Financial Accounting Standards Board has come under pressure to relax its credit losses standard as banks and other financial institutions see the value of their assets plunging from the sell-off in the capital markets amid the coronavirus...
COVID-19: Finances, Retirement, and the Impact on Small Business Owners
thebluntbeancounter.com Mar 23, 2020
Tax Fraud Blotter: Sleepy time
accountingtoday.com Mar 20, 2020
Dying to steal; just getting behind; apple and the tree; and other highlights of recent tax cases. West Palm Beach, Florida: Preparer Paul Senat, 39, has been sentenced to 90 months in prison for aiding and assisting in the preparation of false...
U.S. Postpones April 15 Tax Payments for 90 Days for Most Americans
www.wsj.com Mar 17, 2020
WASHINGTONThe U.S. government will postpone the April 15 tax-payment deadline for millions of individuals, giving Americans another 90 days to pay their 2019 income tax bills in an unprecedented move. The IRS, using authority under President...
Grant Thornton Canada Is Totally Giving Its Hourly Employees the Shaft - Going Concern
goingconcern.com Mar 16, 2020
Tax Fraud Blotter: An EFIN mess
accountingtoday.com Mar 13, 2020
No kidding; Times up; jailbird; and other highlights of recent tax cases. Philadelphia: Preparer Nvahbulai Quisiah has been found guilty of conspiracy to defraud the U.S., preparing false client returns, wire fraud and identity theft. Quisiah...
After the CECL transition: Now comes the hard part
accountingtoday.com Mar 12, 2020
The Financial Accounting Standards Board issued the Current Expected Credit Loss (CECL) accounting standard in 2016. Since then, many questions have been raised about what it requires, particularly by financial services companies that have been...
The Wayfair burden on small businesses
accountingtoday.com Mar 10, 2020
The Supreme Courts 2018 ruling in South Dakota v. Wayfair has had momentous ramifications across the board as states, tax practitioners and businesses adapt to the burdens it generated, and the House Committee on Small Business Subcommittee on...
Business-mindedness is key to a successful audit practice
accountingtoday.com Mar 9, 2020
We talk to leaders of firms all around the country who think that if they just get their fee realization right, thats a sign that theyve got great business minds. But thats the wrong approach. Without the right orientation to...
Tax pros prepare for the coronavirus
accountingtoday.com Mar 6, 2020
Next-level diversity
accountingtoday.com Mar 6, 2020
Practice Profile: A perfect blend
accountingtoday.com Mar 5, 2020
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