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Exxon Mobil Corp.’s attempt to use “accountant-client privilege” to avoid handing over audit documents in a politically charged climate-change probe was dealt a final blow by New York’s top court. The finding on Tuesday affirms a 2016 ruling that Exxon must comply with a subpoena by New York Attorney General Eric Schneiderman, who is investigating […]
Developing a pipeline of CPA candidates is critical, now more than ever. In July, the American Institute of CPAs responded to this need by announcing the acquisition of the Accounting Pilot and Bridge Project (APBP), a training program developed by Dr. Dan Deines of Kansas State to bring higher-quality accounting curriculum to high school educators […]
Moss Adams LLP, a Top 100 Firm, has expanded its health care consulting practice by combining with Seattle-based Rona Consulting Group, effective Sept. 1. Financial terms of the deal were not disclosed. Moss Adams, based in Seattle, ranked 13th on Accounting Today’s 2017 list of the Top 100 Firms, with $527 million in annual revenue. […]
More than three-quarters of board members at public companies polled by BDO USA expect tax reform to be achieved before the end of President Trump’s term in office, but only 22 percent anticipate it will happen before the end of this year. Of those 78 percent who predict tax reform, an overwhelming 94 percent majority […]
A recent accounting standards update helps entities evaluate whether transactions should be accounted for as acquisitions or disposals of assets or as businesses. The Financial Accounting Standards Board’s Accounting Standards Update 2017-01 “Business Combinations (Topic 805): Clarifying the Definition of a Business,” states that a business has the following: 1. Inputs; 2. Processes applied to […]
The Internal Revenue Service announced that its interest rates will remain the same for the calendar quarter beginning Oct. 1. The rates will be: 4 percent for overpayments (3 percent in the case of a corporation); 1.5 percent for the portion of a corporate overpayment exceeding $10,000; 4 percent for underpayments; and, 6 percent for […]
Is it better or worse to prepare returns in front of clients? Tax pros differ over whether it’s better to have the client present so they can answer questions, or to prepare the return distraction and check their work before sharing it with the client. “I prepare returns in front of clients most of the […]
Bloomberg News CPAs, Enrolled Agents and attorneys are part of a privileged group that can represent taxpayers at all levels before the IRS, yet many choose not to extend their practice when collections issues arise. For those that do, there are some things they should know about, according to Curtis Hunter, a shareholder in the […]
Talk Accounting now offers debit cards that connect directly to its accounting app, recording each transaction as it’s swiped. The cards can be white-labeled for firms so accountants can offer the cards to their clients. Talk Accounting’s app allows users to verbally speak their transactions into their smart phone’s microphone, recording the transaction and inputting […]
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