Accounting
Latest News
Report Says Undocumented Immigrants in U.S. Pay Nearly $100 Billion in Taxes
Emburse and Finexio Partner for B2B Payments
How Generative AI Will Disrupt Accounting
Mid-Market Optimism Hits Pre-Covid Record Highs
How Trying to Improve a Business’ Credit Rating Can Hurt Profits
Do companies distort their investments to influence their credit rating? A University of Michigan researcher says yes.
74 Percent of Small Business Owners Optimistic on Economy
Almost three-fourths of small business owners in the U.S. are confident that their revenues will grow through 2014, according to a new study by cloud HR services provider TriNet.
Tom Hood, Jan Hargrave to Keynote 2014 BTC Summit
Tom Hood, CEO, Maryland Association of CPAs & Business Learning Institute, and Jan Hargrave, CEO of Jan Hargrave & Associates, will be the keynote speakers at the 2014 Boomer Technology Circles Summit August 18-19, 2014 at the Westin Crown Center in Kansas City, MO. Due to the growing importance of firm’s developing emerging leaders, the Boomer Technology Circles Summit will also have an Emerging Leader track.
New Fixed Asset System Boosts Transparency and Compliance
New version allows tax and accounting professionals to effectively track fixed asset repairs under the final tangible property regulations, issued by the Internal Revenue Service and U.S. Department of the Treasury.
Wave Launches New Invoicing App
Wave, which makes a suite of small business financial tools, has launched a new app called Mobile Invoice by Wave. The app features one-tap activation of credit card processing, and no-fuss instant integration with Wave’s accounting tools, the app simplifies the entire process of getting paid for small businesses. Invoice by Wave launches today for iOS, with the Android version to follow.
CFO Optimism Highest Since 2006
For the first time since 2006, more CFOs believe the state of the U.S. economy will improve (51 percent) rather than remain the same or worsen (49 percent) during the next six months, according to the Grant Thornton LLP 2014 Spring CFO Survey. This also marks the highest percentage in the survey’s history, which reflects the insights of more than 1,000 CFOs and other senior financial executives across the United States.
GASB Proposes Improvements to State and Local Post Employment Benefits Reporting
On Monday, the Governmental Accounting Standards Board (GASB) published two proposed Statements intended to significantly improve financial reporting by state and local governments of other postemployment benefits (OPEB), such as retiree health insurance. The GASB also published a third Exposure Draft that would establish requirements for pensions and pension plans that are outside the scope of the pension standards the GASB released in 2012.
FASB Issues New Standard on Reporting of Repurchase Agreements
The Financial Accounting Standards Board (FASB) has issued a new standard to improve the financial reporting of repurchase agreements and other similar transactions. Accounting Standards Update No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements.