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The Federal Accounting Standards Advisory Board staff released an exposure draft of a technical bulletin that would clarify the existing standards for loss allowances for intragovernmental receivables. The proposed Technical Bulletin 2019-1 would clarify that the recognition of losses, provided in paragraphs 41-51 of SFFAS 1, Accounting for Selected Assets and Liabilities, applies to both […]
Business executives who are also CPAs now have the least optimistic view of the U.S. economy in three years, thanks to the trade war and fears of a global economic slowdown, according to a new survey by the American Institute of CPAs. The third-quarter AICPA Economic Outlook Survey polled CEOs, CFOs and other CPAs at […]
The majority of payroll professionals don’t think C-suite leadership recognizes the strategic value the payroll function can deliver to an organization, according to a new survey. The 2019 State of Payroll study, conducted by the American Payroll Association on behalf of technology provider Kronos Incorporated surveyed 651 payroll professionals from North American businesses of various […]
Whether you’re still in the middle of tax season or not, when clients are receiving tax services from you, they feel that this is their time to communicate directly with you. Even the once-per-year tax clients need to interact with you during this compressed season of work. From here, you have two choices. You can […]
In response to an ever-changing business landscape, the International Federation of Accountants has launched a new education series aimed at educating chief financial officers and finance functions on “achieving long-term value creation and success” and to “help prepare future-fit accountants in business.” The series consists of three parts: “A Vision for the CFO Finance Function”; […]
Tallahassee, Florida-headquartered accounting firm Thomas Howell Ferguson CPAs has acquired Bainbridge, Georgia, firm Dowdy Whittaker CPAs. Dowdy Whittaker has been providing tax and accounting services for more than 30 years in the Bainbridge community, where owners John Dowdy and Charles Whittaker are prominent business owners and community leaders. The firm primarily provides tax preparation, accounting […]
When talking about workflow, many accounting firms automatically think of practice management. That’s not surprising, since practice management is one of the more important applications in many firms, and the workflow through this application is critical in maintaining a smooth-running firm. But looking at workflow in a single application is a granular examination. Equally important […]
Disasters and deductions; SE biz records; putting the green in green; and other highlights from our favorite tax bloggers. Trimming the VAT Mauled Again (http://mauledagain.blogspot.com/): Cash does not always carry in Philadelphia. Tax Foundation (https://taxfoundation.org/blog): A look at Germany’s recent debate over whether to raise the VAT on meat. Various reasons have been stated in […]
For 2020, Intuit has updated QuickBooks Desktop, Enterprise and Payroll with more automated options, with the goal of moving money around faster and making functions like reporting more efficient. While cloud-based software is certainly increasing in popularity, QuickBooks’ desktop products remain popular, and the yearly updates continue to respond to customer demands. Moving money faster […]
This is my 300th weekly Art of Accounting column. Wow! I feel proud of this. I also congratulate each reader and consider you to be in my choir while I am a preacher of sorts. However, this column would be best read by people who do not read Accounting Today and similar publications. Periodically I […]
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