May 20, 2015

Herz and Tweedie Reflect on Convergence Efforts

Baruch College in New York brought together the former chairman of the Financial Accounting Standards Board, Bob Herz, and the former chairman of the International Accounting Standards Board, Sir David Tweedie, last month to discuss the evolution of accounting standards and the convergence process.

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Posted by Michael Cohn at 06:07PM | Comments (0)

May 15, 2015

IFAC Weighs in on European Proposal for Capital Markets Union

The International Federation of Accountants has submitted a response to the European Commission regarding a recent green paper on building a stronger capital markets union.

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Posted by Michael Cohn at 04:56PM | Comments (0)

May 14, 2015

Mad Men Inspired by Movie about Accountant

Fans of the award-winning AMC cable TV series “Mad Men” are anxiously awaiting the series finale on Sunday, but many longtime viewers may not be aware that the show about Madison Avenue advertising agency executives was partly inspired by a movie about an accountant.

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Posted by Michael Cohn at 05:12PM | Comments (0)

May 13, 2015

CrossFit or Fitbit, States Tax Health Clubs across U.S.

Nearly half of all states impose taxes on memberships in gyms, health clubs, athletic clubs and fitness clubs, while the rest either exempt memberships or don’t have state sales taxes at all, according to new research.

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Posted by Michael Cohn at 05:16PM | Comments (1)

May 12, 2015

Corporate Tax Pros Concerned about Reputations

At a recent gathering of corporate tax professionals, many confessed to uneasiness about the damage to the reputations of their companies from media reports about their tax strategies.

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Posted by Michael Cohn at 03:15PM | Comments (1)

May 11, 2015

H&R Block Scouting for Accountants

H&R Block is looking for accountants, bookkeepers and salespeople to join its recently launched Block Small Business service.

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Posted by Michael Cohn at 05:50PM | Comments (13)

May 8, 2015

CFOs Plan Employee Promotions and Raises

A new survey from the staffing company Accountemps of 2,200 CFOs across the U.S. found that 63 percent plan to promote their top performers, while 52 percent intend to offer raises.

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Posted by Michael Cohn at 04:34PM | Comments (0)

May 6, 2015

Investors Unhappy with FASB Simplification of Accounting Standards for Private Companies

A new study questions the wisdom of the Financial Accounting Standards Board’s initiative to simplify accounting standards for private companies.

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Posted by Michael Cohn at 06:33PM | Comments (1)

May 5, 2015

IRS Tax-Exempt Scandal Never Ends

The Treasury Inspector General for Tax Administration released a report last week showing that the Internal Revenue Service has made significant progress in processing applications for tax-exempt status from organizations, but it’s not enough to satisfy critics of the agency.

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Posted by Michael Cohn at 02:57PM | Comments (13)

May 4, 2015

FATCA Pressures Taxpayers to Reveal Accounts to IRS

The Foreign Account Tax Compliance Act is meeting with some success in prompting foreign banks to disclose the holdings of U.S. taxpayers to the Internal Revenue Service, according to a former IRS official.

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Posted by Michael Cohn at 11:20AM | Comments (5)


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