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BlackLine, which makes solutions for the month-end close and continuous accounting, has signed a reseller agreement with SAP, the Germany-based enterprise software giant. This is a major move for BlackLine, giving it entry to the international market on a large scale. Under the terms of the new agreement, SAP will have the ability to resell […]
Financial Executives International has released two guides to help CFOs, controllers and other senior finance execs address the internal control considerations for the new lease accounting and credit loss standards. The pair of “ICFR: Insights, Issues and Practices” guides discuss some of the considerations and best practices that financial statement preparers should follow in their […]
Andrew Harrer/Bloomberg The IRS Advisory Council has issued its annual report for 2018, including recommendations that the IRS be given the authority to regulate tax preparers. “The IRSAC has urged Congress to provide the IRS express statutory authority to establish and enforce minimum standards of competence for all tax practitioners, including tax return preparers,” the […]
The International Accounting Standards Board voted to propose a one-year delay on the effective date of the new insurance contracts standard, so it will take effect in 2022 instead of 2021. The IASB also decided Wednesday to propose extending until 2022 the temporary exemption for insurers to apply the financial instruments standard, IFRS 9, so […]
The New Jersey Division of Taxation has launched the 2018 Tax Amnesty Program to allow individuals and businesses to pay back taxes or file past returns with no penalties and reduced interest. The program runs from Nov. 15 through Jan. 15. The amnesty applies to outstanding tax filings or payments that were due on or […]
The Internal Revenue Service has pilot-tested several high-definition videoconferencing options for taxpayers to talk with IRS employees face-to-face about their tax questions and problems, but the number of taxpayers who use the so-called Virtual Service Delivery technology has been declining for several years, according to a new report. The report, from the Treasury Inspector General […]
Grants from donor-advised funds to charities grew 19.9 percent to a record amount of $19.08 billion last year, with an increased payout rate of 22.1 percent, according to a new report, as donors made charitable contributions in anticipation of the new tax law. The annual report, from the National Philanthropic Trust, the biggest independent donor-advised […]
FloQast has introduced Strict Tie-Out Mode as an addition to the close management software company’s Strict Suite Controls product, which provides a software framework for internal controls. Strict Tie-out Mode prevents sign-off on reconciliations that aren’t tied out, even if the source data changes after initial sign-off. The new capability enhances FloQast’s other Strict Suite […]
The Internal Revenue Service announced annual inflation adjustments for more than 60 tax provisions for 2019, using a new method of calculating inflation that Congress’ Joint Committee on Taxation says will diminish the value of the tax cuts in the Tax Cuts and Jobs Act. The details of the adjustments were released in Revenue Procedure […]
UHY Advisors named Steven McCarty as its new chief executive officer Wednesday, effective Jan. 1, 2019, succeeding longtime CEO Tony Frabotta, who will remain chairman of the Chicago-based Top 100 Firm. McCarty has been leading UHY’s Corporate Finance business and was industry service leader of UHY’s Professional Employer Organization practice. He’s also a member of […]
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