article thumbnail

Changes to Lease Accounting Rules (ASC 842)

SMBAccountant

New rules are going into effect for lease accounting which may change how small businesses who follow Generally Accepted Accounting Principles (GAAP) think about and reporting leases. The new lease accounting rules seek to make the impact ofleases more transparent within financial statements. Permalink

Account 246
article thumbnail

Attention, Soon-to-be-Accountants: Governments Need You

CPA Practice

Professional association leaders warn that accounting staff shortages are popping up nationwide, impairing financial reporting at the same time that Congress has been pushing for more transparency in financial data , which will require even more staff work. So what’s changed in the supply chain for governmental accountants?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Best Accounting Blogs: Finding a Great Blog for Accountants

Snyder

Accountancy firmly belongs to the financial sector but it also shares a lot of key features with the service industry. Tailoring your offer to your customers, marketing your firm, choosing the latest technology, or providing excellent customer care – it all becomes very important in this competitive market. Small business owners.

Account 52
article thumbnail

Auditing in Accounting: What it is and how it works

ThomsonReuters

The primary role of an accountant is to handle a variety of tasks including tax preparation, financial planning and audits. . With advanced technology shifting the way accountants work, many are looking to expand into specialized services that can give them a leg up on the competition. Let’s start from the beginning. .

audit 59
article thumbnail

Friday Footnotes: Higher Salaries Lead to Higher Fees; EY Auditors Quit; Senator Rags on Greedy Accounting Firms | 1.27.23

Going Concern

Under German law, Apas can only probe and sanction potential misconduct by active accountants who are enrolled in the country’s register of public accountants. 9 focusing on its financial and cost accounting controls, it said Thursday in its 10-K. He did not have a CPA license. He never worked at PriceWaterhouseCoopers.

auditor 108
article thumbnail

Friday Footnotes: Bob Moritz Disappoints Us; ERC Window Slamming Shut; 2024 Sucks For Firms? | 3.22.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Look no further, Accountingfly’s top remote accounting candidates of the week are here.

Minnesota 100
article thumbnail

Your Firm and Your AI Strategy

CPA Practice

What is important is considering your firm, your team, and your clients and their needs and how AI is a tool that can be used for the good of all involved. How can AI make you a more effective and efficient accountant? This often involves research and training to ensure the firm and its clients are compliant.