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Month: June 2020

GASB releases guidance on cloud-based IT subscriptions

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June 9, 2020
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| Tax News And Info

The Governmental Accounting Standards Board published accounting and financial reporting guidance on subscription-based information technology arrangements, which have become more common for state and local governments, especially those that rely on cloud computing. Statement No. 96, Subscription-Based Information Technology Arrangements, is based on standards established earlier by GASB in Statement No. 87, Leases. In Statement […]

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Posted in Tax News And Info Tagged irs, tax news

IRS will waive fee for replacing discarded stimulus payment cards

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June 9, 2020
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The Internal Revenue Service won’t charge people who received an economic stimulus payment on a prepaid debit card in the mail and threw it away because they thought the envelope was junk mail. The IRS began sending an estimated 4 million economic impact payments on prepaid debit cards last month to people who didn’t have […]

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Posted in Tax News And Info Tagged irs, tax news

Top firms’ share of public co. audits creeps up

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June 8, 2020
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The big got bigger in 2019, with the largest auditing firms boosting their share of the public company audit market, according to a new report. The “Who Audits Public Company — 2020 Edition” from Audit Analytics found that the share of public companies audited by the 10 leading firms rose to 65.7 percent in 2019, […]

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Posted in Tax News And Info Tagged irs, tax news

Target market research is king

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June 8, 2020
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In today’s competitive marketplace, buyers wield a great deal of power and — as most businesses shift to work-from-home arrangements — do much of their research online. Knowing what buyers need, where they do their research, and what influences their decisions are all key to a firm’s success. And, according to the 2020 High Growth […]

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Posted in Tax News And Info Tagged irs, tax news

Have you got the right technology, space and mindset to work from home indefinitely?

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June 7, 2020
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As accountants and consultants, most of us are used to working at home at least some of the time. But putting in an extra few hours in a home office on occasion is way different from sheltering in place and moving your entire professional practice into a home office or onto the kitchen table. Sure, […]

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The global accounting profession faces COVID-19

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June 7, 2020
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Is M&A still top of mind for firms?

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June 7, 2020
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CPA firms were forced to change in a matter of weeks, and COVID-19 has impacted every area of our business. All this change got me wondering what will happen to the merger and acquisition strategies of firms. Often, MA increases when organic growth slows down. But right now, many firms are expecting a short-term drop […]

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Posted in Tax News And Info Tagged irs, tax news

People & firms on the move: Windes elected new MP

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June 6, 2020
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ConvergenceCoaching announces Transformational Leadership Program graduates; Baker Tilly admits 23 partners; and more CPA news.

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Posted in Tax News And Info Tagged irs, tax news

Unemployment unexpectedly dips as employers add 2.5M jobs

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June 6, 2020
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Employers added 2.5 million jobs in May, the U.S. Bureau of Labor Statistics reported Friday, defying analyst predictions of heavy job losses as in April’s jobs report, while raising hopes for a faster economic recovery despite the coronavirus pandemic still raging in many parts of the country. The unexpected job gains included 13,200 in accounting […]

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Posted in Tax News And Info Tagged irs, tax news

Accounting profession responds to George Floyd killing and anti-racism protests

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June 6, 2020
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Accounting firms, state CPA societies and national accounting organizations are addressing the wave of international outrage and demonstrations sparked by the killing of George Floyd, an unarmed African-American, by four Minneapolis police officers. “Like so many in our community, I have been deeply affected by the killing of George Floyd in Minneapolis and the ongoing […]

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Posted in Tax News And Info Tagged irs, tax news
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