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The Financial Accounting Standards Board is expected to release a long-awaited accounting standards update this month to clarify a key issue in the nonprofit world, standardizing how grants are classified, as either an exchange transaction or a contribution. The guidance is likely to provide real-life examples of when a nonprofit organization would classify a grant […]
Summer can be a slow time for accountants. The sunny weather and easy pace mean that spreadsheets and taxes aren’t usually top of mind, and clients are often out for weeks at a time. Come July and August, you may find your phone stops ringing and it’s harder to get anyone to call you back. […]
The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has added a supplement to its widely used Enterprise Risk Management Framework, including detailed examples of how to use the ERM Framework, written by PwC under the direction of COSO’s board. The Compendium of Examples links together the concepts and applications of […]
DOPE CFO, a company that provides accounting and training services to legal marijuana businesses and their bookkeepers, said Monday it has expanded to 26 states across the U.S. The company, based in Bend, Oregon, focuses on providing education and expertise to cannabis businesses to help them avoid running afoul of the law, or Internal Revenue […]
When a client engages me for any type of service, there are specific descriptions of what we will do and the goal or end result of the services. What is not figured in is “the Ed Mendlowitz factor.” Once someone signs on with me, my radar gets turned on 24/7. What this is, is my […]
Eric Hansen, chairman of the American Institute of CPAs, was named Friday as chairman of the AICPA’s global association, the Association of International Certified Professional Accountants, which the institute runs with the U.K.-based Chartered Institute of Management Accountants. Hansen is also chief operating officer of BKD CPAs Advisors. He was elected chairman of the AICPA […]
Companies that have the ability to “claw back” compensation from managers if it was received on the basis of misstated financial reporting generally try to protect the integrity of their accounting while maintaining and improving the advantages of performance-based CFO pay, according to a new study. The study, by Peter Kroos and Frank Verbeeten of […]
Slide 1 of 38 Each year, Accounting Today ranks the Top 150 CPA Firms by Assets Under Management in our Wealth Magnets list — and each year, the number of firms with over $1 billion in AUM increases significantly. This year, thanks in no small part to strong markets, the number of CPA financial planners […]
The Internal Revenue Service said Friday it plans to issue regulations to limit the impact of a new excise tax on the endowments of private colleges and universities under the new tax law. Under the new guidance, a private college or university that is subject to the new 1.4 percent excise tax in the Tax […]
Victims of severe storms and tornadoes that began on Feb. 14 in parts of Indiana may qualify for federal tax relief. Following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency, the IRS said affected taxpayers in certain Indiana counties will receive tax relief. People who reside or have a […]
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