The Latest

Intuit has purchased Australian-based online accounting practice management software maker Fifo for an undisclosed sum.

A California businessman has pleaded guilty to concealing a foreign bank account at an Israeli bank on his 2007 tax return.

Acumatica has launched a campaign to add new reseller partners by mailing out a pair of “flip flop” sandals complete with a URL to the registration site for the company’s upcoming partner conference.

A former Internal Revenue Service employee was sentenced in a Manhattan federal court to three years of probation for violating a criminal conflict of interest law and to illegally disclosing confidential audit information during the time he was an IRS employee.

There is no question that the most profitable firms (defined as high per partner income) in our profession have figured out that leverage and a well managed pyramid is one of the key ingredients. Why is it then that so many firms, and I would suggest the majority, are struggling with just the opposite – an upside-down or inverted pyramid where there are lots of partners and managers but few staff.

The “off-the-job” behavior of corporate executives, including legal infractions and ownership of luxury goods, could point to the likelihood of future financial misstatements and outright fraud.

The proposed changes in lease accounting standards described in the recent exposure draft from the Financial Accounting Standards Board and the International Accounting Standards Board will significantly alter financial reporting standards for both lessors and lessees, according to Fitch Ratings.

Online bill payment and invoicing service Bill.com has introduced the Bill.com Approval Solution, which promises to speed the invoice approval cycle for accountants, small and midsize businesses, and nonprofit organizations, while adding important checks and balances to the approval process.

The Taxpayer Protection Program that the Internal Revenue Service implemented in an effort to curb the problem of identity theft-related tax fraud is improving the IRS’s efforts at detecting identity theft, but the case-processing controls need to be strengthened to reduce the burden on taxpayers victimized by identity theft, according to a new government report.

Central Florida CPA firm Averett Warmus Durkee kicked off its annual slate of summer philanthropic projects with a pair of charitable activities.