CPA Practice

JULY 24, 2024

Today’s CFOs, however, are dealing with a host of additional pain points, including a shortage of skilled accounting professionals. For pre-IPO companies, it could mean challenges in setting up strong governance structures or internal controls and difficulty in learning to be compliant with the SEC and other regulatory bodies.

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CPA Practice

AUGUST 28, 2024

By Stacy Parker The Virginian-Pilot (TNS) VIRGINIA BEACH — An accountant who pleaded guilty of stealing more than a $1 million from a local condiment company for personal travel and entertainment and misusing pandemic relief funds has been sentenced to four years in prison. District Court in Norfolk. Reich was ordered to pay $1.3

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ThomsonReuters

JANUARY 18, 2024

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? Accountant responsibilities extend far beyond number crunching.

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PANALITIX

MAY 31, 2021

Specializing an Accounting Business: . Accountants are increasingly specializing in response to the commoditization of ‘traditional’ accounting services. Accountants are increasingly specializing in response to the commoditization of ‘traditional’ accounting services. Management accounting. Cost Accounting.

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Going Concern

JANUARY 25, 2023

When Thomson Reuters reported late last year that the Financial Accounting Standards Board (FASB) had proposed an eighth round of changes to lease accounting rules 1 , accounting and finance execs around the country channeled their inner Charlie Browns with a collective, “Good grief!”

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CPA Practice

AUGUST 6, 2024

The Financial Accounting Standards Board has issued its 2024 Investor Outreach Report. Those priorities include projects that address disaggregation of financial reporting information; income tax disclosures; accounting for environmental, social, and governance (ESG)-related transactions (e.g.,

income tax 111

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Accounting Insight

AUGUST 8, 2023

Accounting fraud causes serious damage. According to the latest report by the Association of Certified Fraud Examiners (ACFE), Occupational Fraud 2022, accounting fraud is the type of business fraud that causes the highest losses to companies. In these cases, there is a greater likelihood of accounting fraud.

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Going Concern

APRIL 15, 2024

In response, the Public Company Accounting Oversight Board has drafted a rule that the accounting firms can have public trust or private financials—but they can’t have both. Public accounting firms operate in a unique space in our society. Regulations need to change to match. But what about the books of the auditor?

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PYMNTS

JANUARY 24, 2021

Business software maker Cygnet Infotech has updated its FACE ( Financial Accounting Comprehensive and Easy ) accounting software platform, according to a published report. The new version supports accounting for multiple companies working in multiple currencies, among other aspects, the report stated.

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Withum

OCTOBER 16, 2024

Are you aware of the potentially severe implications of failing to report your foreign bank and financial accounts to the U.S. persons with foreign bank and financial accounts exceeding $10,000 in aggregate value must file the FinCEN Report 114, or FBAR, annually. government. Department of Treasury?

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Going Concern

MAY 12, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. UK accounting sector needs to put more emphasis on its people [ AccountancyAge ] Across the UK, increasing turnover rates have been observed across barrios sectors.

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CPA Practice

AUGUST 23, 2023

The Financial Accounting Standards Board (FASB) issued a new standard on Wednesday that addresses the accounting for contributions made to a joint venture, upon formation, in a joint venture’s separate financial statements. A government may also be a member of the group.

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Going Concern

APRIL 21, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. But that might be the least of it: The outlook for EY’s business of charging for advice and accounting is getting weaker in the U.S. A failed breakup attempt cost the company $600 million.

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ThomsonReuters

DECEMBER 6, 2022

The spotlight on environmental, social, and governance (ESG) continues to intensify as businesses are increasingly being called upon to disclose more about their ESG performance and strategies. Given the increased focused on ESG, this blog marks the first in a series dedicated to ESG and its impacts on the accounting profession.

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CPA Practice

MARCH 13, 2024

government by hiding millions of dollars in Swiss bank accounts and lying to the IRS about his foreign assets for decades, according to federal authorities. bank accounts and real estate properties. government if he fails to appear for trial. government if he fails to appear for trial.

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CPA Practice

OCTOBER 22, 2024

Top 75 accounting firm PBMares is expanding its presence in the Washington, D.C. metro area by merging in BSB CPAs + Advisors, a top 400 tax and accounting firm based in Fairfax, VA, effective Jan. Financial terms of the deal weren’t disclosed. million, according to INSIDE Public Accounting.

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Going Concern

AUGUST 11, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Accounting and advisory firm Grant Thornton trimmed about 3% of its ranks in June. What drew you to the field of accounting?

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Going Concern

SEPTEMBER 1, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Check out this week’s top remote accounting candidates. Check out this week’s top remote accounting candidates. P.S. We’re off for Labor Day, hope you are too.

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Cherry Bekaert

MARCH 9, 2023

persons for nonwillful compliance failures to file reports of foreign bank and financial accounts, is assessed against each report that is required to be filed and is not assessed against each bank account required to be reported. Foreign Bank and Financial Accounts Report (FBAR) A U.S. Originally, the U.S.

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CPA Practice

AUGUST 9, 2024

The Financial Accounting Standards Board ( FASB ) has issued its 2024 Investor Outreach Report. Those priorities include projects that address disaggregation of financial reporting information; income tax disclosures; accounting for environmental, social, and governance (ESG)-related transactions (e.g.,

income tax 52

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CPA Practice

JANUARY 30, 2023

The Financial Accounting Foundation (FAF) said on Monday it is planning to give investors and other stakeholders greater online access to financial accounting standards for public and private companies, as well as for governments.

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CPA Practice

MARCH 14, 2023

This article will provide a general overview of the current reporting requirements for foreign financial assets on the Report of Foreign and Financial Accounts (“FBAR”) and on Form 8938 under the Foreign Account Compliance Act (“FATCA”). Financial Interest A U.S. FBARs A United States Person (“U.S. US Person A U.S.

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Anders CPA

JANUARY 8, 2024

Jeanne Dee, CPA/CGMA, audit and assurance partner at Anders CPAs + Advisors (Anders), has been appointed to the Financial Accounting Standards Board (FASB) Not-for-Profit Advisory Committee (NAC) effective January 1, 2024. in Accounting from the University of Missouri – St. I’m excited to get started! She holds a B.S.

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Snyder

NOVEMBER 22, 2022

It can be hard to keep up with new opportunities and technologies in our rapidly changing and evolving world, especially in a professional field such as accounting. Why is accounting important? What are basic accounting principles? What is accounting software? Basic accounting and its secrets. Contents: 1.

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CPA Practice

OCTOBER 22, 2024

“Victims have a lot of things to sort through following a major disaster, including getting their financial house in order,” says Dan Snyder, director, Public Accounting (Personal Financial Planning) for the AICPA. These may be available from federal, state and local governments and are generally income-tax free.

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Going Concern

JULY 1, 2022

Accountants are voted the best kissers in Britain ahead of doctors and nurses while civil servants, bankers and lawyers are rated as the worst [ Daily Mail ] Often ridiculed as boring beancounters, accountants have surprisingly been voted the best kissers – ahead of doctors, nurses and engineers.

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CPA Practice

APRIL 27, 2023

The Financial Accounting Foundation (FAF) has given the financial reporting community an opportunity to raise potential concerns about compliance with the due-process procedures of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

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Cherry Bekaert

JULY 29, 2024

The Financial Accounting Standards Board (FASB) did not issue any new Accounting Standard Updates (ASUs) in the second quarter of 2024, while the Government Accounting Standards Board (GASB) issued one new GASB Statement. 103, Financial Reporting Model Improvements (GASB 103).

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Going Concern

JUNE 17, 2022

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

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Going Concern

DECEMBER 22, 2023

Barring any huge incident like an accounting firm getting raided by the FBI on Christmas Day, there will not be any breaking news. One key reason: PwC is trying to compete for top talent amid a dwindling number of accounting majors. Tips are still welcome , nay, encouraged , and we’ll be monitoring the tipline. and Mexico.

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SkagitCountyTaxServices

JUNE 8, 2022

Though it’s not the main thing I’ll be writing about today, I did want to point out this economic elephant in the room for my Mount Vernon business owner readers and clients, and not just speed on by and into my accounting geekery. It was started some 50 years ago as a successor to the Accounting Principles Board.

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CPA Practice

OCTOBER 16, 2024

Dan Lohrmann Government Technology (TNS) That didn’t take long. If someone calls claiming to be a government official, hang up and call the number listed on that government agency’s official website. c)2024 Government Technology Visit Government Technology at www.govtech.com Distributed by Tribune Content Agency, LLC.

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CBH

MARCH 19, 2019

Almost one year has passed since the Financial Accounting Standards Board (“FASB”) released guidance for contributions accounting, but several nonprofit organizations still struggle with understanding the new provisions. The post Nonprofits Seek More Clarity on Contributions Accounting appeared first on Cherry Bekaert.

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CPA Practice

OCTOBER 18, 2023

The award, presented since 1944, is the highest honor bestowed by the AICPA, recognizing CPAs “whose influence on the accounting profession has been especially notable.” Robert Herz has had invaluable impact on the growth and success of the accounting profession throughout his distinguished career,” Golden said.

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PYMNTS

AUGUST 15, 2019

Enterprise lease accounting software company LeaseAccelerator is teaming up with Clearlink Partners to help joint clients ease the administrative burden of complying with changes in lease accounting standards. The companies announced their partnership in a press release issued Wednesday (Aug.

Account 40

Account accounted accountant accounting standards 40

Cherry Bekaert

APRIL 26, 2024

The Financial Accounting Standards Board (FASB) issued two Accounting Standard Updates (ASUs) in the first quarter of 2024. The Government Accounting Standards Board (GASB) did not issue any new GASB Statements in the first quarter of 2024. Second, determining the proper accounting involves judgment.

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Going Concern

OCTOBER 7, 2022

Accounting’s Big Lie — and How to Fix It [ Project on Government Oversight ] A colossal conflict of interest compromises the auditing of public companies and the financial security of everyone who depends on them. The Project On Government Oversight is planning a conference on what to do about it. stood at 3.18

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