Accounting
Latest News
An Increase in Customer Theft is Increasing Restaurant Prices
IRS Shares Five New Warning Signs of Incorrect ERC Claims
‘Unpredictable’ Election Clouds Tax and Economic Policy View
Sanders May Bring His Populist Brand to Powerful Senate Finance Committee
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EY Adds New York-Based Technology Consulting Firm Nuvalence
The transaction expands EY's digital engineering and generative AI services to organizations across industries and sectors.
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Police Accountant Charged With Stealing From City of Wichita, KS
Shauna Marie Dickman was charged with two counts of felony theft for allegedly stealing at least $3,915 in cash.
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Ex-HVAC Accountant Admits to Embezzling $1.5 Million in Wilkes-Barre, PA
Lawrence Malachefski was accused of stealing from the HVAC equipment company to support his online gambling habit.
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Financial Accounting Foundation Seeks Nominations for the Financial Accounting Standards Advisory Council
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. The FASAC is the primary advisory body to the Financial Accounting Standards Board (FASB). The FASAC consists of approximately 35 members who represent a broad cross section of the FASB’s constituency. Its primary function is to advise the FASB on issues related to projects on the FASB’s agenda, possible new agenda items, project priorities, procedural matters that may require the attention of the FASB, and other matters as requested by the FASB chair. FASAC members are appointed by the FAF Trustees for an initial one-year term and are eligible to be reappointed for three additional one-year terms.
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AICPA Provides Comments on the Tax Classification of Purpose Trusts
The recommendations would simplify filing for taxpayers and practitioners and will reduce the administrative burden on the IRS.
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DEA May Reclassify Cannabis as Lower Level Drug
Federal authorities appear to be on the brink of reclassifying cannabis, a change which, if it happens, could affect the cannabis market in a variety of ways.
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Expensify Targets Global Self-Employed Market With New Expense Tracking Features
The financial management app maker Expensify, Inc., which focuses on expenses and corporate cards, has added expense tracking for self-employed professionals in its next-gen New Expensify platform.
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8 Characteristics of a Well-Designed Root Cause Analysis Process, According to the PCAOB
In a staff report, the PCAOB discusses the importance of the root cause analysis process in firms' efforts to improve audit quality.