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GASB Issues New Guidance on Risk Disclosures

CPA Practice

The Governmental Accounting Standards Board has issued new guidance that requires state and local governments to disclose information about certain risks. 102 , Certain Risk Disclosures , requires governments to disclose essential information about risks related to vulnerabilities due to certain concentrations or constraints.

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Is President Biden On the Right Track With His Billionaire and Business Tax Increase Plans?

CPA Practice

The president must make hard decisions and reduce government spending but there isn’t the political will, especially in an election year. These proposed tax increases can risk economic growth, make the tax code more complicated, and expand government spending. Federal spending as a share of GDP would also increase.

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Friday Footnotes: Accounting AI Explodes; SOX Compliance Sux; KPMG Gets on a List | 6.17.22

Going Concern

VCs Target AI Accounting Startups as Companies Look to Control Spending in Uncertain Economy [ Wall Street Journal ] It’s finally happening! Let the robot takeover commence! World-wide, startups making AI-powered accounting software amassed $233.3

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Dept. Of Ed Piloting Debit Card To Control Student Loan Refund Spending

PYMNTS

Elizabeth Hill, a spokeswoman at the Department of Education, said the government won’t “exercise” control over how students spend their college loan money. There are no rules, however, governing how students spend that money; in some cases, they use it all on alcohol or clothing.

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BNPL Snowballs Through The COVID Economy

PYMNTS

Controlling spend may be its own reward, and it can be a great deal more, with the BNPL experiences and integrations that have been making headlines during this troubled year. Pandemic on a Budget.