Getting ready for rev rec
Marisa Garcia, managing director of CohnReznick Advisory, discusses what companies should be doing to prepare for the new revenue recognition standard.
Tag: tax news
How revenue recognition will change forever
Revenue recognition is one of the accounting topics most examined by investors and regulators. The core principle of the Financial Accounting Standards Board’s new revenue recognition standard is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration the entity expects to […]
The gig is up: Clients with side jobs often neglect taxes
With the number of taxpayers working in the so-called “gig economy” rising relentlessly, it’s more likely than ever that a client is holding down a side job for extra cash, to transition into a new career, or for some other hope-filled purpose. What they are they less likely to do, though, is pay attention to […]
Eide Bailly to merge in France, Basterrechea, Wagner & Bunn
Eide Bailly LLP plans to add France, Basterrechea, Wagner Bunn, a CPA firm based in Gooding, Idaho, effective May 14, 2018. The deal will add four partners and 12 staff to the firm and Eide Bailly’s Idaho practice. Eide Bailly already has an office in Boise staffed with 16 partners and 73 staff members. Financial […]
Crowe Horwath adds TRU8 Solutions
Crowe Horwath LLP plans to merge in TRU8 Solutions, an Atlanta-based risk consulting firm, effective Jan. 31, 2018. Financial terms were not disclosed. Crowe Horwath, based in Chicago, ranked 8th on Accounting Today’s 2017 list of the Top 100 Firms. As part of the deal, 15 people will be joining Crowe from TRU8, including three […]
Are you ready for NOCLAR?
A little-known new professional standard speaks to accountants’ responsibilities when they uncover client noncompliance with laws and regs. Audit Conduct’s Cathy Allen unpacks the details.
Six questions to protect client tax data
Tax pros can protect clients’ data by looking critically at where in their office they store this data, according to the IRS. The agency’s Security Summit recommends these questions to assess the physical security of data in an office: 1. Are all the places where taxpayer information is located protected from unauthorized access or theft, […]
The rev rec standard is here
Marisa Garcia, managing director of CohnReznick Advisory, discusses what companies need to know about FASB’s new revenue recognition standard and what they should do about it.
Steinhoff units seek ‘significant’ funding as CFO steps down
Steinhoff International Holdings NV, the South African retail giant consumed by an accounting scandal, said some of its business units need “significant near-term liquidity” as its chief financial officer stepped down to focus on rescue efforts. CFO Ben la Grange will be replaced by Philip Dieperink, finance chief for the company’s U.K. subsidiary, the owner […]
Whitney Houston’s estate strikes $2M tax deal with IRS
The estate of the late award-winning singer and actress Whitney Houston has reportedly reached a deal with the Internal Revenue Service to pay $2,275,366 in taxes, far less than the $11.7 million the IRS said it was owed. Houston’s estate and the IRS have been battling over the value of her royalties, residuals and image. […]
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