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Nearly one-third of companies are reducing their overall real estate footprint as a result of the COVID-19 pandemic, with 31 percent of companies renegotiating leases for more favorable terms, according to a new report. The report, released Tuesday by LeaseQuery, a provider of lease-accounting software, found that finance leaders cited exit clauses (35 percent) and […]
The novel coronavirus pandemic is throwing a monkey wrench into plans for the Internal Revenue Service to reorganize itself to provide better taxpayer service, as mandated by the Taxpayer First Act that Congress passed last year. A new report released Wednesday by the Government Accountability Office found that so far the IRS’s planning has only […]
Accountants and tax professionals have played a critical role in keeping the economy going since the beginning of the COVID-19 pandemic, according to Thomson Reuters’ Charlotte Rushton, and those who were focused primarily on advisory services were in a better position that most. “The last eight months have shown that the shift to advisory in […]
The Governmental Accounting Standards Board has released an exposure draft of proposed implementation guidance on a number of topics, including leases and fiduciary activities. The Implementation Guidance Update, which takes the form of questions and answers, also proposes amendments to some previously issued implementation guidance. When GASB propose new or updated guidance, it’s based on: […]
The U.S. Securities and Exchange Commission is pushing ahead with a plan that threatens to kick Chinese companies off U.S. stock exchanges, setting up a late clash between Washington and Beijing as the Trump administration winds down. By the end of this year, the SEC intends to propose a regulation that would lead to the […]
The Institute of Management Accountants has released a pair of reports on revenue management and profitability analytics, as companies increasingly rely on their CFOs and accounting departments to help them survive beyond the coronavirus pandemic. The IMA’s “Revenue Management Fundamentals” offers a foundation for understanding revenue management and includes a descriptive framework for identifying opportunities […]
Let’s say you are a business owner, CPA or EA. Your business has been prospering for many years. You’re sitting back in your chair, wrapping up your day’s work, and sending off one last email. You grin with satisfaction, knowing that soon you will be able to leave your office and spend some quality time […]
Clairmont, Paciello and Co. PC, a midsized accounting and financial services firm in King of Prussia, Pennsylvania, has acquired the tax and accounting practice of Dreslin and Co. Inc., of East Norriton, Pennsylvania, effective Nov. 1, 2020. Clairmont, Paciello has five partners, 13 full-time associates and six part-time associates. Dreslin is adding one partner and […]
The tables used to compute required minimum distributions from retirement plans have been updated for 2022. The new tables take effect as the Internal Revenue Service have issued revised regulations under IRC Sec. 401(a)(9) and can be used for calculations for distribution calendar years beginning Jan. 1, 2022. They also generally reflect longer life expectancies. […]
Net at Work, a technology and business consultancy to the accounting profession, acquired two Sage partners this month: Planet Earth Projects, a Connecticut-based value-added reseller of Sage 300 ERP, Sage CRM and MISys software, and Sysera, a Sage 300 reseller based in Pleasanton, California. The value of neither deal was disclosed. Net at Work also […]
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