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Bitcoin and other cryptocurrencies, referred to as convertible virtual currencies or CVCs, have been held and traded for a number of years by U.S. taxpayers. In 2014, the Internal Revenue Service issued a notice that it considered CVCs to be property and not fiat currency. As a result, any sale or exchange of CVCs or […]
The American Institute of CPAs has released a practice aid to help auditors with the allowance for credit losses under the Financial Accounting Standards Board’s new standard for measuring credit losses on financial statements. The practice aid, Allowance for Credit Losses — Audit Considerations, focuses on loans measured at amortized cost for depository and lending […]
As online sales transactions increase in volume year after year, companies that provide tax automation are seeing a major increase in the need for their services. Vertex is one of those companies, and it now offers a new program for its app partners to build, test and review tax connectors for its software. The Validated […]
As far as payroll software goes, ADP and Paychex are two of the largest competitors in the market. Both companies have also been around for a long time, founded in 1949 and 1971 respectively. This means both have adapted to software advancements over the years, managing to hold on to their respective market share and […]
Every firm and small business has processes. A process is an organized group of related activities that together create value for clients or customers. No single task creates the desired value. Value is created by the entire process in which all tasks are merged in a systematic way for a clear purpose. Without processes, firms […]
Few service offerings can boast the sort of boom that client accounting services have enjoyed in the past five or six years, as technological advances (particularly in the cloud), client needs, and bold practitioners have combined to create enviable growth rates and an entirely new way of looking at how firms serve business clients. For […]
Marcum promotes 16 to partner; KSCPA announces Women to Watch Award nominees; and more CPA news.
CohnReznick raises $150K through its 28th Annual Golf Invitational; EY holds a graduation ceremony in collaboration with Girls Who Code; and Fulcrum Partners aids two Jacksonville, Florida charities.
Underlying the rapid advancement of artificial intelligence technology is a question: Will AI eventually replace an accountant’s function? Vic.ai, a New York-based startup, is taking a different approach. The company wants to develop AI that helps humans — specifically accountants — perform better. Its message resonates — the company just closed an $11.2 million Series […]
RSM US LLP has expanded in Florida by adding Gregory, Sharer Stuart, a firm based in St. Petersburg, effective Oct. 1, 2019. The deal expands RSM’s presence in the Tampa Bay area, where the firm already has an office in downtown Tampa. The merger adds more than 60 professionals to RSM’s overall team in the […]
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