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The Paycheck Protection Program is not exactly one-size-fits-all in its effects on loan recipients. A business with 500 employees has different challenges when it comes to reopening than a business with five employees. The program, introduced as part of the CARES Act, initially ran out of funds within days of its beginning, but has since […]
House Democrats proposed a $3 trillion virus relief bill Tuesday, combining aid to state and local governments with direct cash payments, expanded unemployment insurance and food stamp spending as well as a list of progressive priorities like funds for voting by mail and the troubled U.S. Postal Service. While there is little chance of the […]
The International Public Sector Accounting Standards Board is trying to prod more countries to adopt its standards along with the accrual method of accounting, as nations around the world face unexpected expenses and revenue shortfalls arising from the novel coronavirus pandemic. “In terms of the accounting standards, what we’re saying is that actually we’ve got […]
Major upheavals in economic conditions present an opportunity for significant growth. For firms prepared to embrace this concept, it’s go time for new service innovations that clients and prospects want, need, and are willing to pay for. With so many of us sequestered at home, it may be some time since you’ve actually been in […]
CFOs are cautiously planning to reopen their companies despite the novel coronavirus pandemic to stem the mounting tide of revenue losses, but employees are worried about whether they can return to work safely. PricewaterhouseCoopers’ fifth biweekly COVID-19 CFO Pulse Survey found 55 percent of the 288 CFOs and finance leaders polled are projecting revenue and […]
The Internal Revenue Service proposed regulations Thursday to offer guidance for estates and trusts clarifying that some deductions of estates and non-grantor trusts are not considered to be miscellaneous itemized deductions. The Tax Cuts and Jobs Act of 2017 prohibited individual taxpayers from claiming miscellaneous itemized deductions for any taxable year starting after Dec. 31, […]
The U.S. Bureau of Labor Statistics reported Friday that the unemployment rate rose to 14.7 percent in April, the highest level since the BLS began keeping records in January 1948, as employers shed 20.5 million jobs in the wake of the COV-19 pandemic. The unemployment rate increased by 10.3 percentage points to 14.7 percent last […]
Right Networks acquires Rootworks; Hancock Askew launches new information security entity; and more CPA news.
Do I have to use this? How long will it take to learn this? I have to remember another password? If you’re an accountant, you’ve probably heard these sentiments or ones like these when introducing clients to new software. Many accounting firms understand how the right technologies help them better retrieve and analyze financial information, […]
The Governmental Accounting Standards Board is postponing the effective dates of many of its pronouncements and implementation guides for 12 to 18 months to provide some breathing room for accountants who work for state and local governments and have to deal with the impact of the novel coronavirus pandemic. GASB issued Statement No. 95, Postponement […]
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