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More than half of organizations don’t have any budget set aside for fraud prevention or risks, according to a new survey by the Association of Certified Fraud Examiners. The ACFE survey found that 38 percent of the anti-fraud professionals polled around the world said their organization was unable to identify or address the fraud risks […]
The Financial Accounting Standards Board proposed a 2018 GAAP Financial Reporting Taxonomy and, for IFRS filers, a Shared Reporting Taxonomy on Tuesday, asking for public comments on the files. The proposed 2018 GAAP Financial Reporting Taxonomy includes updates for the latest accounting standards and other recommended improvements. The proposed 2018 Shared Reporting Taxonomy contains elements […]
The Protecting Americans from Tax Hikes Act of 2015 significantly enhanced the Research and Development Tax Credit Program on a myriad of levels by making the program a permanent tax incentive within the Tax Code and considerably restructured the program. The program allows eligible small businesses (i.e., with $50 million or less in gross receipts) […]
President Donald Trump promoted a tax overhaul as essential to boosting economic growth as he huddled Tuesday at the White House with his advisers and the congressional leaders shepherding his push to overhaul the nation’s tax code. “We’re going to cut taxes,” Trump vowed during a Roosevelt Room meeting with the so-called Big Six tax […]
TFC Consulting, a provider of accounting services to government entities, was born out of serendipitous meetings, a few business pivots, and survival instincts. Now, the Rockville, Md.-based accounting firm has served more than 30 federal agencies, experienced explosive staff growth over the past five years, and received a Contractor of the Year Award from American […]
I have seen firms that use time sheets provide staff evaluations based on total chargeable hours, the ratio of chargeable hours to total hours, realization based on their time charges and sometimes collections per hour they charged. This is then compared to other staff at similar levels to determine “performance.” Alternatively I know firms that […]
HR Block announced that for its fiscal 2018 first quarter ended July 31 its total revenues were $137.8 million, up from the prior-year $125.2 million. However, the company reported a net loss of $130.6 million, up from the prior-year $123.7 million. The prep-chain giant said in a statement that revenues were impacted by increased tax […]
Expensify now boasts 5 million users Since the end of last year, Expensify has doubled its user worldwide and now serves 5 million, the company reports. Additionally, Expensify has also doubled the number of accounting firms in its ExpensifyApproved! Partnership Program. Many of these new partners represent top 50 accounting firms such as Kaufman Rossin, […]
The IRS has, as promised earlier this year, upgraded its website with a new look and with new features. Image: Bloomberg News The new website is part of the agency’s Future State Initiative, an effort to dial back in person and phone engagement with taxpayers in favor of more online interaction. IRS.gov is also designed […]
Slide 1 of 18 Each year as part of our Top 100 Most Influential People in Accounting list, we ask candidates for the list to name who they think are the most influential people in the field, and here they are, ranked by the number of votes they received from the 119 candidates. You can […]
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