Accounting

Summer is the time for grilling burgers and hot dogs, escaping to the beach or woods or just relaxing and enjoying the warm weather. Of course, there’s nothing to prevent you from mixing in a little business with the pleasure. If your clients handle things the right way, and keep detailed records, they can write off a portion of their business entertainment expenses.

The Governmental Accounting Standards Board (GASB) today issued for public comment a proposed Statement addressing accounting and financial reporting issues related to fair value measurements.

Small business optimism increased in April, according to the National Federation of Independent Businesses. The group's April index rose 1.8 points to a post-recession high of 95.2. The economy continues to perform modestly and April’s index followed suit as it crossed the 95 marker for the first time since 2007. Seven Index components improved, one was unchanged and 2 fell.

Burning the candle at both ends, an Oregon couple is now experiencing the sweet smell of success. Husband-and-wife team Billy Taylor and Brook Harvey-Taylor, the founders of Portland, Ore. based company – Pacifica, have been named today this year’s National Small Business Persons of the Year at the U.S. Small Business Administration (SBA), National Small Business Week awards ceremony in Washington, D.C.

Sage North America has announced the release of Sage ERP X3 version 7, a global business management solution for midsized companies, designed to address businesses’ top challenges of winning new customers, reducing operating costs and growing revenue. Because companies with more accessible, usable data grow faster, Sage ERP X3 version 7 brings flexibility and an entirely redesigned Web and mobile experience, giving all employees the information they need wherever they are.

One in three manufacturers surveyed by the Federal Reserve Bank of Philadelphia said they have experienced significant labor shortages, with some positions remaining unfilled for more than three months.

Former presidential candidate and Massachusetts Governor Mitt Romney said last week that he supports an increase in the minimum wage, in stark contrast to many in his party.

Intuit announced late Wednesday that it has acquired Invitco. The Australia-based company is the developer of Invitbox, an online system for managing accounts payable. Intuit is the company behind QuickBooks, TurboTax, Quicken, Mint and many other small business and financial management systems.