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.

State budgets

39 states lack the money to pay bills for COVID-19

At least 39 states did not have enough money to pay all of their bills at the end of 2019, leaving them ill-prepared to shoulder the costs of the novel coronavirus pandemic, according to a new report.

By Michael Cohn

September 22
Financial reporting

Financial reporting isn’t getting any easier under COVID-19

Now that U.S. companies have experienced two fiscal quarters in the midst of the novel coronavirus pandemic, quarterly reporting for Q3 doesn’t seem to be getting any simpler, according to a new report from Deloitte.

By Michael Cohn

September 22
Tax regulations

IRS finalizes regulations for estates and non-grantor trusts

The regs clarify that certain deductions aren’t to be considered miscellaneous itemized deductions.

By Michael Cohn

September 21
Tax regulations

IRS finalizes 100% bonus depreciation rules

The Internal Revenue Service and the Treasury Department issued the last set of final regulations to implement the 100 percent additional first-year depreciation deduction from the Tax Cuts and Jobs Act.

By Michael Cohn

September 21
Audits

Companies making more disclosures about audit committees this year

COVID-19 doesn’t seem to be having an impact on such disclosures, according to a report from Ernst & Young.

By Michael Cohn

September 21
Revenue recognition

FASB proposes to simplify revenue recognition for franchisors

The Financial Accounting Standards Board is offering a practical expedient to the current revenue recognition rules for franchise businesses.

By Michael Cohn

September 21
SASB

SASB expands into standards for internet content moderation and human capital

The Sustainability Accounting Standards Board is moving beyond environmental issues and further into the areas of social and governance reporting.

By Michael Cohn

September 18
M&A

Mauldin & Jenkins adds Plush Smith

The Top 100 Firm based in Atlanta has acquired Plush Smith P.A., a firm in Sarasota, Florida.

By Michael Cohn

September 18
Tax relief

Democrats introduce wildfire disaster tax relief bill

A group of Senate Democrats introduced legislation to offer tax relief to individuals, businesses and states affected by catastrophic wildfires and other presidentially declared disasters.

By Michael Cohn

September 17
Accounting standards

FASB updates nonprofit accounting standards for gifts in kind

The changes would enhance the transparency of how nonprofits report contributed nonfinancial assets.

By Michael Cohn

September 17