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Courtesy of GASB Accounting Standards Update 2018-16 from the Financial Accounting Standards Board adds the Overnight Index Swap rate based on “a broad Treasury repurchase agreement financing rate referred to as the Secured Overnight Financing Rate” to the list of benchmark rates allowed for hedge accounting. The new rate was introduced as the result of […]
Victims of severe storms, tornadoes, straight-line winds, flooding, and landslides that struck Wisconsin beginning on Aug. 17 may qualify for tax relief from the IRS. To qualify, individuals must reside or have a business in Crawford, Dane, Juneau, La Crosse, Monroe, Richland, Sauk and Vernon Counties. Federal disaster declaration permits the IRS to postpone certain […]
Professional services firms can succeed financially as either “shared services” or “shared vision” firms, although shared service firms have limitations. Your question may be, “What is the difference?” One of the biggest differences is the ability to sustain success and stay future-ready, especially in today’s disruptive environment. Developing a shared vision is not that difficult, […]
In a world where many people won’t even consider going to a restaurant without checking its Yelp review first, G2 Crowd has become a critical gatekeeper in the software world: The website collects reviews and ratings for business software and services companies, and it plays a part in how CPA firms and value-added resellers of […]
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Weaver will open its newest office in New York City on Nov. 1, located in the Times Square/Theater District at 120 West 45th Street, Suite 2800. The New York State Society of CPAs, New York City, is joining the New York Public Library’s Science, Industry and Business Library for its Financial Planning Day fair on […]
Is your firm an advisory hero? With the right forecasting and data analysis tools, it could be. “Firms that haven’t moved in that direction [of advisory services] are kind of missing the boat on the fact that they are sitting on the most powerful piece of information that their clients need help with, which is […]
About one-quarter of perpetrators of financial reporting misconduct experience a net benefit, even after getting caught, according to a new Columbia Business School study examining the most serious cases of misreporting. Nearly 26 percent of perpetrators experienced a net benefit, according to the research, conducted by Columbia Business School professors Shiva Rajgopal and Dan Amiram […]
Having executives with backgrounds as partners or managers at audit firms can significantly increase some companies’ likelihood of financial misstatements, according to a new academic study that warns external auditors to be on the lookout for it. The study, “Do Auditors Recognize the Potential Dark Side of Executives’ Accounting Competence?” describes that competence as “a […]
When we think of changes to the financial statement audit, we tend to think in big, broad strokes. The period right after the stock market crash of 1929, for example, ushered in the modern era of independent audit of financial statements, a key to public confidence in our global markets. The audit has been steadily […]
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