Withum

DECEMBER 16, 2024

On November 27, 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting Improvements to Reportable Segment Disclosures. Impact Effective for 2024 audits, ASU 2023-07 is expected to draw close regulatory scrutiny.

accounting standards

Accounting Today

JULY 24, 2025

He concealed his financial accounts from the IRS, transferring funds from accounts he owned to accounts in only his spouses name, filing false court documents to terminate federal tax liens against his property and lying to IRS investigators. On these returns, Edwards admitted that he owed more than $2.5

Tax

Accounting Today

JULY 25, 2025

CONNECTICUT FASB, GASB and FAF logos on the wall at headquarters in Norwalk, Connecticut Courtesy of GASB The Financial Accounting Foundation board of trustees announced it is seeking nominations for new members to join the Financial Accounting Standards Advisory Council for an initial one-year term beginning Jan.

Rhode Island

inDinero Tax Tips

JANUARY 1, 2025

Heres a brief checklist: Choose an accounting method: cash or accrual. Integrate software with your financial accounts for easy record-keeping. Regularly review bank account and credit transactions for discrepancies. Filing taxes late or misclassifying expenses can carry penalties or even trigger audits.

accrual accounting

Accounting Insight

JANUARY 7, 2025

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.

accounting standards

Going Concern

OCTOBER 25, 2024

. — Going Concern (@going_concern) October 23, 2024 Local Potsdam village officials to begin search for new auditing firm [ North Country Now (New York)] The country-wide municipal mess continues… The village [of Potsdam, NY] is looking for a new firm to complete its annual fiscal audit.

accounting and finance

CPA Practice

JULY 1, 2025

in Ohio The top 30 accounting firm has its first location in Ohio after merging in Cincinnati-based CPA firm Flynn & Co. in Ohio The top 30 accounting firm has its first location in Ohio after merging in Cincinnati-based CPA firm Flynn & Co. Since 1994, Flynn & Co.

Ohio

Accounting Today

JULY 30, 2025

Accounting Payroll ADP Employment data MORE FROM ACCOUNTING TODAY Tax Corporate AMT proposed regs revised The IRSs Notice 2025-28 will affect applicable corporations with financial statement income attributable to investments in partnerships.

Technology

CPA Practice

NOVEMBER 25, 2024

The Board of Trustees of the Financial Accounting Foundation (FAF) has announced the appointment of Robert W. Scott to a five-year term on the Governmental Accounting Standards Board (GASB). Before entering the public sector, he was employed as an audit manager with the accounting firm of Deloitte & Touche.

Wisconsin

Going Concern

APRIL 4, 2025

PwC China plans to spin off cyber security arm [ Financial Times ] PwC China plans to spin off its Dark Lab cyber security arm in a private buyout deal, as the Big Four firm seeks to improve liquidity and navigate the financial fallout from its audit of failed Chinese property developer Evergrande.

Tax

Accounting Today

JULY 30, 2025

Accounting Payroll Paychex Small business Employment data MORE FROM ACCOUNTING TODAY Tax Corporate AMT proposed regs revised The IRSs Notice 2025-28 will affect applicable corporations with financial statement income attributable to investments in partnerships.

Technology

Going Concern

FEBRUARY 13, 2025

Sign up now to view the complete candidate list and connect with potential hires. Sign up now to find your next hire. Drop your information here , and we’ll reach out to schedule a call to discuss how Accountingfly can work for you.

Account

Withum

JUNE 11, 2025

service delivery, data integrity, financial accountability, and compliance) is evaluated comprehensively and constructively. Engaging a cross-functional group from both the sponsor and the vendor ensures that every critical facet (i.e., Sample Agenda 1. Welcome and Objectives of the Review Define goals, format, and review scope 2.

accountant

CPA Practice

MAY 1, 2024

The Board of Trustees of the Financial Accounting Foundation ( FAF ) is seeking nominations for new members to join the Financial Accounting Standards Advisory Council ( FASAC ) for an initial one-year term beginning January 1, 2025. Corporate governance community.

financial accounting

Going Concern

JULY 29, 2022

note: fans of accounting news — all two of you — are encouraged to sign up for our newsletter to get headlines delivered to your inbox twice a week on Tuesday and Friday. The draft legislation uses a version of company income, as measured under US financial accounting rules, to determine what businesses owe in taxes.

audit

CPA Practice

AUGUST 10, 2023

Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, has appointed two new leaders to the firm’s Audit Quality & Risk practice. Decker assumes her new role from Mary Ropes, an Audit partner at Grant Thornton, who retires after more than 35 years of service at the firm. Thank you for your leadership.”

audit

SMBAccountant

DECEMBER 2, 2020

GAAP are a set of accounting principles established by the Financial Accounting Standards Board (FASB) to provide clarity, consistency, and comparability of financial reporting and information. All publicly traded companies are required to follow GAAP.

Government

Going Concern

MARCH 4, 2022

Deloitte considers Russia pull out as pressure grows on western firms to exit [ Financial News ] Deloitte is considering pulling out of Russia, becoming the first Big Four audit firm to do so as pressure grows on Western companies to cut ties with the country following its invasion of Ukraine.

audit

Going Concern

MARCH 8, 2024

In an interview with Bloomberg Law, Punt said he is optimistic about growing the accounting giant’s market share for the proactive services Deloitte calls “business transformation,” arguing general counsel need to deliver more value to their businesses through streamlined processes. When conducting the fiscal year 2021 audit of Tingo, Inc.,

audit

SMBAccountant

MARCH 8, 2023

Some responsibilities of tax accountants include: Preparing federal and state income taxes Calculating and filing property taxes, sales taxes, and licenses Preparing and filing 1099 forms Assisting with tax audits or legal disputes The second type of accounting is financial accounting.

tax accountant

CPA Practice

MAY 24, 2024

The Board of Trustees of the Financial Accounting Foundation (FAF) today announced that Hillary H. Salo, whose five-year term on the Financial Accounting Standards Board (FASB) begins July 1, 2024, will serve as the board’s vice chair upon the start of her term.

financial accounting

PYMNTS

DECEMBER 4, 2020

Munich prosecutors have launched an investigation into the Ernst & Young ( EY ) audit of Wirecard AG, compounding the firm’s troubles associated with $2.3 EY has been approving Wirecard’s financial accounts for over 10 years. billion that went missing at the payment company.

audit

Going Concern

APRIL 26, 2023

Easily finding the one near me, the job description explains their motive nicely (from the Blockchain & Digital Assets Manager position in Falls Church, VA): We are expanding Deloitte’s Audit & Assurance Blockchain & Digital Assets practice.

audit

Going Concern

NOVEMBER 18, 2022

More than 150 retired EY partners have written to the accounting firm’s leadership objecting to the radical plan to split its consulting and audit businesses. KPMG blocked from Abu Dhabi audits as it elects new regional boss [ Financial Times ]. Defense Department fails another audit, but makes progress [ The Hill ].

Technology

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. Jeanne also served as a board member and secretary for the Missouri State Board of Accountancy.

Missouri

CPA Practice

MARCH 7, 2023

The Uniform Certified Public Accountant Examination (CPA Exam) is regularly updated to reflect enhancements to accounting and auditing standards as well as tax laws and regulations — and to improve the efficiency of the exam. By Gail Cole.

Technology

Going Concern

AUGUST 5, 2022

Meet the accountants who may become the new power brokers of taxes. [ needs full access to Chinese company audit papers to resolve accounting dispute -watchdog [ Reuters ] The U.S. needs full access to Chinese company audit papers to resolve accounting dispute -watchdog [ Reuters ] The U.S. and Baidu Inc.,

accountant

Going Concern

MARCH 22, 2024

Day Named Technical Director of the Financial Accounting Standards Board [ FASB ] The Financial Accounting Standards Board (FASB) on March 20 announced the appointment of Jackson M. Mr. Day has spent most of his 38-year accounting career at EY, which he initially joined in 1986 on the audit staff in St.

Minnesota

Going Concern

APRIL 21, 2023

Professor Laura Empson of Bayes Business School retells how these audit firms were beguiled by the glamour and big fees of corporate advisory work. 400 NYC public school students will have the opportunity to enroll in Outlier.org’s highly regarded Intro to Financial Accounting college course. KPMG faces $1.4-billion

Account

Anders CPA

JULY 21, 2022

The Financial Accounting Standards Board (FASB) issued new reporting guidelines to help increase transparency around the measurement of contributed nonfinancial assets recognized by not-for-profits, including how much was used to support programs and activities.

accounting standards

inDinero Accounting

MAY 5, 2021

The thought of a compliance audit makes most people sweat. Currently, the SBA is conducting first-round PPP audits. Get our handy infographic on the likelihood of a PPP audit. inDinero clients have a team of accounting and tax expertise to ensure accurate financials are fit for business management, investors, and taxes.

audit

CPA Practice

APRIL 25, 2023

The questions covered accounting information systems (AIS), auditing, financial accounting, managerial accounting and tax, and varied in difficulty and type, such as true or false, multiple choice, and short answer.

managerial accounting

CPA Practice

JULY 16, 2024

The core sections are Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Taxation and Regulation (REG). A new version of the U.S. CPA Exam, consisting of three core sections and one selectable discipline section, debuted earlier this year.

CPA

MarkFriedlich

MARCH 30, 2020

The CARES Act (the “Act”) provides temporary relief from FASB Accounting Standards Update (ASU) No. 2016-13, Financial Instruments —Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The post The CARES Act Provides Temporary Relief from CECL Standard appeared first on Tax & Accounting Blog.

accounting standards

Going Concern

APRIL 15, 2024

The audit opinions they issue typically have meaning and value because the firms operate with public trust. In the public company audit arena, this transparency is maintained through PCAOB inspections of auditors. They’re private entities specifically designed to serve the public interest. The new rule would be welcome news.

audit

Going Concern

MAY 12, 2023

The Asian country recently urged state-owned enterprises to phase out Big Four contracts and hire locally instead in a bid to rein in foreign accountants amid what it called data security concerns. KPMG, PwC and Deloitte got less than 4% each, according to data from the Chinese Institute of Certified Public Accountants analyzed by Bloomberg.

CPA

Going Concern

JUNE 3, 2022

The Financial Accounting Standards Board adopted CECL in 2016, prompted by criticism that banks had booked losses too slowly in the run-up to the 2008 financial crisis. partnership that she wouldn’t seek reelection in October, the Financial Times said.

audit