High Quality Work…Great Customer Service.
The U.S. Supreme Court’s 5-4 decision in South Dakota v. Wayfair on Thursday overturned the physical presence standard espoused in Quill v. North Dakota and National Bellas Hess v. Department of Revenue of Ill. In a strongly worded opinion, the court held that the physical presence rule in Quill is an “unsound and incorrect” interpretation […]
The Senate Finance Committee plans to hold a confirmation hearing next Thursday for the nominee for Internal Revenue Service commissioner, Charles “Chuck” Rettig, a Beverly Hills tax attorney. If confirmed, Rettig would be replacing David Kautter, who is Assistant Secretary of the Treasury for Tax Policy in addition to filling in as acting commissioner of […]
The Governmental Accounting Standards Board has issued guidance outlining the accounting requirements for interest costs incurred before the end of a construction period. In Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period, GASB spelled out how to treat information about capital assets and the cost of borrowing for […]
The accounting profession has been making more concrete efforts in recent years to bolster diversity, particularly among women and younger professionals, in order to ensure the future success and longevity of the field. As older generations retire, a more diverse generation of professionals are being asked to take the reins and transform the profession like […]
The National Association of Black Accountants held its 49th annual NABA Convention and Expo, bringing together more than 2,000 accounting professionals. During last week’s conference, a group called CEO Action for Diversity Inclusion highlighted the need for more diverse workplaces as part of its Check Your Blind Spots national mobile tour. Launched in 2017, CEO […]
The implementation deadline for the new IFRS 16/ASC 842 lease accounting standards is rapidly approaching. The new standards will require organizations to report and disclose all lease obligations for buildings, office space, motor vehicles and other equipment, and reclassify them as assets and liabilities. Does your organization have an implementation plan and adequate system in […]
The Financial Accounting Standards Board released an accounting standards update Thursday to clarify and improve the scope and accounting guidance for contributions of cash and other assets received and made by nonprofit organizations and businesses. The standards update clarifies the current guidance about whether a transfer of assets—or the reduction, settlement, or cancellation of liabilities—is […]
Wolters Kluwer Tax Accounting is leveraging Microsoft’s Cortana voice assistant to add voice-enabled search to its CCH AnswerConnect tax research product. CCH AnswerConnect customers who are using Microsoft Windows 10 can use the Cortana voice assistant to verbally ask CCH AnswerConnect Tax Assistant a federal tax question. Cortana will then either read the answer back […]
AutoEntry, maker of automated data entry software for small businesses, has launched its partner program, now available to U.S.-based accounting and bookkeeping firms, and those already using AutoEntry to automate their bookkeeping data entry. Through the program, partner accountants get a discount on AutoEntry’s software, as well as other incentives, improving their margins on value-added […]
Bloomberg Tax has introduced an ASC 606 solution for its Advantage tax management system to help companies comply with the new revenue recognition standard. The ASC 606 solution uses SaaS, or Software as a Service, technology, similar to cloud computing. The new revenue recognition standard is forcing companies to scramble to come into compliance. The […]
Powered by WordPress. AwesomeOne theme by Flythemes