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National Taxpayer Advocate Nina Olson outlined concerns about how the Internal Revenue Service will be able to implement the new tax law after a series of budget cuts, in her new report to Congress. The 2017 Annual Report to Congress from the IRS’s Taxpayer Advocate Service, headed by Olson, discusses some of the challenges the […]
Marisa Garcia, managing director of CohnReznick Advisory, discusses what companies should be doing to prepare for the new revenue recognition standard.
Revenue recognition is one of the accounting topics most examined by investors and regulators. The core principle of the Financial Accounting Standards Board’s new revenue recognition standard is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration the entity expects to […]
With the number of taxpayers working in the so-called “gig economy” rising relentlessly, it’s more likely than ever that a client is holding down a side job for extra cash, to transition into a new career, or for some other hope-filled purpose. What they are they less likely to do, though, is pay attention to […]
Eide Bailly LLP plans to add France, Basterrechea, Wagner Bunn, a CPA firm based in Gooding, Idaho, effective May 14, 2018. The deal will add four partners and 12 staff to the firm and Eide Bailly’s Idaho practice. Eide Bailly already has an office in Boise staffed with 16 partners and 73 staff members. Financial […]
Crowe Horwath LLP plans to merge in TRU8 Solutions, an Atlanta-based risk consulting firm, effective Jan. 31, 2018. Financial terms were not disclosed. Crowe Horwath, based in Chicago, ranked 8th on Accounting Today’s 2017 list of the Top 100 Firms. As part of the deal, 15 people will be joining Crowe from TRU8, including three […]
A little-known new professional standard speaks to accountants’ responsibilities when they uncover client noncompliance with laws and regs. Audit Conduct’s Cathy Allen unpacks the details.
Tax pros can protect clients’ data by looking critically at where in their office they store this data, according to the IRS. The agency’s Security Summit recommends these questions to assess the physical security of data in an office: 1. Are all the places where taxpayer information is located protected from unauthorized access or theft, […]
Marisa Garcia, managing director of CohnReznick Advisory, discusses what companies need to know about FASB’s new revenue recognition standard and what they should do about it.
Steinhoff International Holdings NV, the South African retail giant consumed by an accounting scandal, said some of its business units need “significant near-term liquidity” as its chief financial officer stepped down to focus on rescue efforts. CFO Ben la Grange will be replaced by Philip Dieperink, finance chief for the company’s U.K. subsidiary, the owner […]
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