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The Financial Accounting Standards Board’s recently issued accounting standards update on how to account for production costs for movies and television episodes provides more clarity on how to deal with financial reporting in an age when viewers have become more accustomed to streaming video online and binge watching their favorite series. FASB issued the update […]
MarksNelson MarksNelson staff members across Kansas City volunteered at local nonprofits as part of the firm’s annual Volunteer Day. The firm closed its offices on June 20 to allow its 181 staff members to serve their local community. Volunteer Day is part of the firm’s Marks of Kindness program, wherein staff members nominate nonprofits and […]
There are approximately 14,000 multi-partner CPA firms in the U.S., yet last year only 100 firms had annual revenues of at least $40 million. The statistics are staggering. We have many small CPA firms in this country serving the mid-market and, regardless of size, in this economy many firms are finding it difficult to organically […]
The professional services industry has proven to be incredibly successful. Accounting and consultancy firms have existed for decades, serving the public trust and upholding the integrity of our financial markets. And yet, resting on our laurels is perilous, as professional services firms face massive disruption. Machine learning, artificial intelligence and other technologies are rapidly transforming […]
Canopy has added payments to its tax practice management platform. The module, which is proprietary to Canopy, allows money transfers between Canopy’s customers and their clients using credit, debit or ACH. In an increasingly automated technology environment, in-platform payments are a convenience well-received by clients who are used to the ease of consumer payment apps. […]
WithumSmith+Brown, PC, together with Utah-based accounting automation technology firm Avii, have created a new employee workspace and portal called the Withum Experience Powered by Avii. The product was developed with the help of the Top 100 Firm’s internal Innovation Council, formed two years ago to test and deploy cutting-edge technology for accountants. Withum, which was […]
The Securities and Exchange Commission promoted deputy chief accountant Sagar Teotia to chief accountant on Wednesday, succeeding Wesley Bricker, who stepped down in May. As the new chief accountant at the SEC, Teotia will act as the principal advisor to the commission on accounting and auditing matters, as well as lead the 45 staff members […]
Private sector employment growth slowed down in June, particularly among small businesses, according to payroll giant ADP, as employers added only 102,000 jobs in a further sign of a tightening labor market and the fading impact of the 2017 tax cuts. Small businesses actually lost jobs, particularly at the smallest businesses with between one and […]
The rate of unemployment has hit a 50-year low and the war for talent rages on in almost every industry, including accounting. Raising wages and adding benefits are some of the more traditional ways to attract and retain top talent, but candidates and employees also expect companies to embrace the cultural changes brought about by […]
The Internal Revenue Service has set up a process for carefully vetting videos after a series of embarrassing educational videos were uncovered several years ago featuring IRS officials and employees appearing in spoofs of TV series such as “Star Trek,” “Gilligan’s Island” and “Mad Men,” along with a dance music video. A new report from […]
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