August 25, 2016

Adjusting to FASB's New Not-for-Profit Standard

Nonprofit organizations and their accountants may want to adopt Financial Accounting Standards Boardís new standard for not-for-profits early before they have to begin adjusting to some of the other new standards coming out from FASB.

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Posted by Michael Cohn at 06:04PM | Comments (0)

August 24, 2016

PwC Offers Quick Take on Lease Accounting Standard

PricewaterhouseCoopers has released a quick overview of the Financial Accounting Standards Boardís lease accounting standard.

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Posted by Michael Cohn at 05:13PM | Comments (1)

August 23, 2016

Institute of Certified Bookkeepers Teams with Landy Insurance

ICBUSA, part of the Institute of Certified Bookkeepers, has partnered with the Landy Insurance Agency to offer professional liability insurance, privacy and cybercrime coverage to ICBUSA members.

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Posted by Michael Cohn at 04:31PM | Comments (0)

August 22, 2016

Former EY Accountant Gwen Jorgensen Wins Gold Medal in Triathlon

Gwen Jorgensen, a former tax accountant at Ernst & Young, won the gold medal on Saturday at the Triathlon in the Rio Olympic games.

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Posted by Michael Cohn at 07:46AM | Comments (1)

August 19, 2016

IRS Releases Guidance Priorities for Year Ahead

The Internal Revenue Serviceís Chief Counsel has released its annual Priority Guidance Plan for 2016 to 2017.

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Posted by Michael Cohn at 05:06PM | Comments (0)

August 17, 2016

Net Operating Loss Rules Challenge Companies

The rules for claiming net operating losses to offset income tax liabilities can vary from state to state and are proving to be a big challenge for many companies, especially as both the economy and corporate profitability improve.

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Posted by Michael Cohn at 05:54PM | Comments (0)

August 16, 2016

Sales Tax Exemptions Vary on Manufacturing Equipment

A total of 37 states provide full exemptions from sales and use taxes on manufacturing equipment and machinery, but for the rest of the states, the rules can be different.

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Posted by Michael Cohn at 03:24PM | Comments (0)

August 15, 2016

The Risks of Intercompany Accounting

Companies that botch the accounting for transactions between different legal entities within their organizations can make their financial reporting slipshod.

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Posted by Michael Cohn at 04:24PM | Comments (1)

August 12, 2016

Comparing the Trump and Clinton Tax Plans

Donald Trumpís revamped tax plan stands in stark contrast to his rival Hillary Clintonís plan, although many of the differences go back to the traditional split between the Republican and Democratic approaches to tax reform.

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Posted by Michael Cohn at 05:36PM | Comments (4)

August 11, 2016

American Accounting Association Debuts Research Database

The American Accounting Associationís Auditing Section has introduced a database summarizing research papers on auditing that were published in seven academic journals.

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Posted by Michael Cohn at 04:53PM | Comments (0)