Michael Cohn

Editor-in-chief, AccountingToday.com

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Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985. Prior to joining Accounting Today and WebCPA, he worked for Red Herring, Internet World, Beyond Computing, Accounting Technology and PC Magazine, and freelanced for a variety of other business publications. A graduate of the University of Pennsylvania with a BA in English, he studied accounting at the Wharton School of Business, and currently lives in New York City.

Coronavirus

Accountants predict 2020 will be worst year for economy since World War II

This year is expected to be the worst for the global economy since World War II, according to a new survey by the Association of Chartered Certified Accountants and the Institute of Management Accountants.

By Michael Cohn

July 7
GASB

GASB offers guidance on CARES Act and coronavirus

The Governmental Accounting Standards Board released a technical bulletin with guidance for applying existing GASB standards to transactions related to the CARES Act and outflows incurred in response to the COVID-19 pandemic.

By Michael Cohn

July 6
IRS

IRS issues rules for net operating losses in consolidated groups

The Internal Revenue Service and the Treasury Department released proposed regulations and temporary regulations to offer guidance for consolidated groups on net operating losses in the wake of changes under both the Tax Cuts and Jobs Act of 2017 and the CARES Act.

By Michael Cohn

July 6
ESG

ESG disclosures by companies fall short, according to GAO

Disclosures of nonfinancial information, such as environmental, social and governance issues, aren’t always “clear or useful,” according to a report by the Government Accountability Office.

By Michael Cohn

July 6
Coronavirus

Global accounting groups urge long-term value creation amid coronavirus

Three worldwide accounting groups have banded together to issue a report offering guidance on how CFOs and finance teams can steer their organizations toward long-term value creation during the COVID-19 pandemic.

By Michael Cohn

July 2
IRS

IRS offers relief on low-income housing tax credits in response to coronavirus

The Internal Revenue Service is extending timelines for performing some of the actions associated with the low-income housing tax credit and bonds for qualified residential rental projects to give businesses more time during the COVID-19 pandemic.

By Michael Cohn

July 2
CAQ

Auditors can improve ESG info amid coronavirus, says CAQ report

Audit firms can enhance the reliability of environmental, social and governance reporting, according to a new report from the Center for Audit Quality.

By Michael Cohn

July 2
Bureau of Labor Statistics

Employers added 4.8M jobs in June despite coronavirus, including 17.5K in accounting

The unemployment rate fell to 11.1 percent, as employees returned to work despite the ongoing spread of COVID-19.

By Michael Cohn

July 2
IMA

Paul Juras begins term as IMA global chair

The Babson College professor takes his post as the institute faces the challenge of the coronavirus pandemic.

By Michael Cohn

July 1
FASB

FASB and GASB undergo leadership transitions amid coronavirus

The Financial Accounting Standards Board and the Governmental Accounting Standards Board are under new chairmen Wednesday after their long-serving leaders completed their second terms.

By Michael Cohn

July 1