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What is an accounts payable recovery audit? Quite simply, it is a review of a company’s accounts payable historical data for the purpose of identifying and recovering funds paid to vendors and suppliers resulting from overpayments and under-deductions. The reasons for these erroneous payments are numerous, and areas of recovery can include duplicate or wrong […]
Elliott Davis, a Top 40 Firm based in Greenville, South Carolina, is celebrating its centennial this year as it expands its advisory services in the cyber area to meet the challenges of its next 100 years. The firm started in Boston and originally focused on the textile industry, according to the Greenville Journal. It relocated […]
Intuit Inc., the software giant behind TurboTax, is buying personal finance website Credit Karma Inc. for about $7.1 billion in cash and stock. The transaction is expected to “be neutral to accretive” to Intuit’s adjusted earnings per share in the first full fiscal year after the transaction closes, the company said in a statement Monday. […]
Democratic presidential candidate Pete Buttigieg took on one of the most fraught tax issues in Democratic politics, proposing that the $10,000 cap on state and local tax deductions be lifted. Buttigieg updated his tax plan Monday, adding a plank that would remove the $10,000 limit on so-called SALT deductions for those earning up to $400,000, […]
Intuit Inc. is close to buying Credit Karma Inc. for about $7 billion in cash and stock deal, The Wall Street Journal reported, citing people familiar with the matter it didn’t identify. The purchase, which could be announced by Monday, will push the maker of TurboTax deeper into the consumer finance space, the newspaper said. […]
The Illinois CPA Society and its CPA Endowment Fund of Illinois have announced that Kari Natale, senior director of planning and governance at the Illinois CPA Society and senior director of the CPA Endowment Fund of Illinois, has been honored with the Association Forum’s Inspiring Leader Award. The award honors those who have “established a […]
White Nelson Diehl Evans launches new website; American Accounting Association to induct five members into Accounting Hall of Fame; and more CPA news.
The Governmental Accounting Standards Board is proposing to enhance the disclosures made by state and local governments with their financial statements. On Friday, GASB issued a proposed concepts statement with the goal of providing improved guidance for when it establishes note disclosure requirements for state and local governments. When they’re finalized, the concepts could be […]
The Federal Accounting Standards Advisory Board staff has released a technical bulletin in an effort to clarify the loss allowance standards for accounts receivable and related recognition standards and reporting. Technical Bulletin (TB) 2020-1, Loss Allowance for Intragovernmental Receivables, clarifies that the recognition of losses, provided in paragraphs 40-52 of SFFAS 1, “Accounting for Selected […]
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