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Year-End Tax Strategies for Businesses

Withum

Expansion of small businesses that are able to use the cash (as opposed to accrual) method of tax accounting. The election must be reflected for financial accounting purposes or the books and records of the company as well. For-profit entities can apply clean energy credits against their federal income tax due.

Tax 105
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Caseware announces acquisition of LeaseJava

Accounting Insight

SaaS solution enables automation of complex lease accounting calculations, ensuring precision and simplification Caseware, a global leader in cloud-enabled audit, financial reporting and data analytics solutions, today announced the acquisition of LeaseJava, a software-as-a-service (SaaS) solution designed and developed by leasing standards experts.

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What is Managerial Accounting and How Does it Differ from Financial Accounting?

Snyder

When starting a business, all the paperwork and accounting may seem daunting. No matter how large or small your business is, managerial accounting will help you gain profit. This type of accounting aims mainly at forecasting and long-term business decisions and is used to ensure your company’s financial health.

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Specializing an Accounting Business: What and How?

PANALITIX

Specializing an Accounting Business: . Specialization is one way to distinguish your firm from the competition and generate more profitable work. Accountants are increasingly specializing in response to the commoditization of ‘traditional’ accounting services. Some Accountants will prefer to Stay Close to Accounting.

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How to navigate accounting assumptions

ThomsonReuters

Jump to: What are the main accounting assumptions? Going concern assumption: A closer look How do common accounting assumptions relate to GAAP? Accounting assumptions, along with accounting principles and concepts, provide professionals with the necessary framework for preparing financial statements.

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FASB Votes Against Extending the Lease Accounting Standard Due Date

LSLCPAs

Private Companies and Non-Profits Must Comply by Original Deadline. The Financial Accounting Standards Board FASB rejected the Pennsylvania Institute of CPA’s (PICPA) request for a two-year extension of the lease accounting standard’s due date. 15, 2021, and interim periods within fiscal years.

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Friday Footnotes: Opinions!; EY’s Blockchain Aspirations; KPMG Junior Reprimanded | 9.30.22

Going Concern

Partners at Deloitte in the UK and Switzerland will receive an average income of more than £1m each for the second year in a row, after the accountancy firm enjoyed another successful year. Each partner will receive an average distributable profit of £1,058,000 in the year to the end of May, about 33 times the UK’s average annual pay.