February 17, 2015

Rhode Island CPAs Look to Transform the Financial Statement

The Rhode Island Society of CPAs is trying to re-imagine the traditional financial statement.

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Posted by Michael Cohn at 02:30PM | Comments (0)

February 13, 2015

AICPA Asks IRS for More Guidance on Deferral of Advance Payments for Stock Buys

The American Institute of CPAs sent a comment letter Friday to the Internal Revenue Service about two interpretive issues.

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Posted by Michael Cohn at 05:20PM | Comments (0)

February 11, 2015

FASB and IASB Rev Rec Transition Group Makes Progress

The Financial Accounting Standards Board and the International Accounting Standards Board have been holding a series of meetings of their Joint Transition Resource Group as they prepare for implementation of their converged standard on revenue recognition.

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Posted by Michael Cohn at 05:19PM | Comments (4)

February 10, 2015

IRS Faces Budget and ID Theft Challenges for Tax Season

The Internal Revenue Service is facing not only a budget crunch this tax season, but also rampant identity theft.

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Posted by Michael Cohn at 05:30PM | Comments (5)


Protecting Confidential Client Files

Accountants need to make sure they are keeping their clients' files safe, especially during tax season when the threat of identity theft only seems to be getting more prevalent every year.

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Posted by Michael Cohn at 06:49AM | Comments (2)

February 6, 2015

Financial Execs Object to Proposed Changes in Accounting for Income Taxes

Financial Executives International has sent a letter to the Financial Accounting Standards Board taking issue with FASB’s recent proposed changes in the accounting standards for income taxes.

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Posted by Michael Cohn at 05:37PM | Comments (1)

February 3, 2015

How Business Structure Affects Taxes

As Congress begins to digest President Obama’s proposals for changes in how to tax the foreign earnings of U.S. multinational companies, a brief refresher on business structure might be useful.

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Posted by Michael Cohn at 03:20PM | Comments (3)

February 2, 2015

IIA Readies Internal Audit Survey

The Institute of Internal Auditors is sending out a survey in 23 languages to internal auditors around the world in an effort to gauge the opinions of audit professionals across the globe.

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Posted by Michael Cohn at 05:37PM | Comments (0)

January 30, 2015

U.S. Multinationals Repatriate $12 Billion+ Tax Free

A new study finds that U.S.-based multinational corporations move an average of $12 billion in taxable income back into the country each year without paying taxes, thanks to complex mergers and acquisitions.

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Posted by Michael Cohn at 04:56PM | Comments (1)

January 29, 2015

The Burden of Accounting and Taxes on Small Business

The small business mentoring organization SCORE has compiled some new statistics demonstrating how much time and money small businesses spend each year on accounting, taxes and payroll administration.

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Posted by Michael Cohn at 04:28PM | Comments (7)


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