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It turns out everyone struggles with data, while Airbnb has new tools for business travelers, and eight other technology developments from the past month and how they’ll impact your clients and your firm.
The AICPA recognizes professors and students with industry awards; Rehmann relocates to downtown Detroit; and more CPA news.
IRS selects income tax and accounting chief counsel; Boyer Ritter elects pair of principal-owners; and more personnel news.
Big Four firm Deloitte has created a new product, CognitiveTax Insight, or “CogTax,” to analyze indirect tax data sets using artificial intelligence. The product uses AI to assess the full population,of a clients’ accounts payable transactions, compared to a traditional, sampled approach. The use of AI is proliferating in the accounting space, especially to leap-frog […]
The AICPA’s “2019 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits” breaks down the new face of the profession as it enters a new decade. The biennial report, first published in 1971, is based on university responses from the 2017-2018 academic year and U.S. accounting firm responses from the […]
A deadline is looming to maximize the stepped-up basis afforded to realized capital gains invested in qualified opportunity zone properties and businesses. To get the full 15 percent step-up in basis, investment must be made by the end of 2019. There has been a corresponding surge of offerings, primarily real estate investment trust-like investments in […]
BPM LLP, a Top 100 Firm based in San Francisco, has expanded in the Seattle area by adding CPA Consulting, a firm based in Bellevue, Washington. CPA Consulting was founded in 1997 and works with clients throughout western Washington, Hawaii and Alaska. After the merger, its 10-person team will continue to work out of its […]
The American Institute of CPAs’ Financial Reporting Executive Committee is offering some draft guidance on various issues related to the implementation of the new credit losses standard. The standard is also known as CECL because it uses a Current Expected Credit Loss model for estimating the allowances for expected losses over the life of a […]
The American Institute of CPAs recognized three academics for exemplary teaching and research contributions during the annual American Accounting Association meeting, held this week in San Francisco. Stephen Moehrle, a professor at the University of Missouri-St. Louis, is the recipient of the 2019 AICPA Distinguished Achievement in Accounting Education Award. Panos Patatoukas and Yaniv Konchitchki, […]
A series of budget cuts at the Internal Revenue Service has led to an estimated $34.3 billion in lost tax revenue from large companies, according to a new study. New research from the Indiana University Kelley School of Business backs up previous statistics indicating that the IRS is auditing fewer tax returns from corporations because […]
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