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I just found out that there is link that brings you to my prior “Art of Accounting” columns. I checked it out and it goes back to my 156th column posted on Nov. 14, 2016. Here’s the link. The earlier columns can be found on this website by searching for my name, or you can […]
It turns out you can predict the future – and offer valuable services while doing so. Maryland Association of CPAs’ chief executive Tom Hood shares the secrets of the “Anticipatory Organization” in this episode.
The Financial Accounting Standards Board has lost one of its members, with Harold Monk stepping down for “personal reasons.” His resignation takes effect on May 31. Monk joined FASB on Jan 1, 2017, so he effectively will have served only a little over a year of his five-year term. Before joining FASB, he was a […]
The Association of Chartered Certified Accountants and CFA Institute, which offers the Chartered Financial Analyst designation, have agreed on a three-year memorandum in which both organizations will collaborate on various initiatives. ACCA chief executive Helen Brand ACCA chief executive Helen Brand and CFA Institute president and CEO Paul Smith signed the pact. The agreement was […]
The Institute of Management Accountants is planning ahead for next year’s 100th anniversary of the organization, which it will be getting an early start on next month at its annual conference, where it also plans to roll out its long anticipated Competency Framework. “We officially celebrate it next June in San Diego, but start the […]
As accounting firms know, they have the responsibility to protect client data, both ethically and legally under various laws, regulations and professional standards, such as the Gramm-Leach-Bliley Act, which was enacted to protect consumers’ private financial information by restricting the collection and disclosure of nonpublic personal information and imposing certain security requirements on covered organizations. […]
AuditFile has introduced a free add-in report writer tool for Microsoft Word that works with the company’s audit automation software. The AuditFile Report Writer Toolbox helps audit and assurance professionals link from financial statements, reports, schedules and other workpapers directly to relevant data in the AuditFile trial balance tool. The add-on tool extends AuditFile’s existing […]
FloQast, a startup company that provides close management software for accountants, has debuted Perm Docs, a new feature that centralizes the storage of important supporting documentation needed for a given close or subsequent audit, but not tied to only a single time period. Perm Docs, short for “permanent documents,” can include policies and procedures documentation, […]
The Internal Revenue Service has issued a revenue procedure providing the 2019 inflation-adjusted amounts for health savings accounts. In Revenue Procedure 2018-30, the IRS said the annual limitation on deductions for an individual with self -only coverage under a high deductible health plan is $3,500 for calendar year 2019. Also for next year, the annual […]
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