Finance

The next meeting of the Financial Crisis Advisory Group is scheduled for March 5 as accounting leaders and regulators sort out issues related to the recession.

Ric Rosario is stepping into some big shoes at Camico Mutual Insurance Co.

Bankers could start huffing and puffing after a few minutes on the treadmill once Tim Geithner cranks up the dial a few notches.

During his Fiscal Responsibility Summit on Monday, President Barack Obama discussed the possibility of lowering the statutory corporate tax rate while also closing tax loopholes that allow companies to reduce taxes.

Following President Obama’s first formal address to Congress where he called for a rebuilding of America, members of the profession as well as GOP lawmakers offered mixed reactions to his budget priorities as well as the stimulus package.

As the 111th Congress grapples with tax legislation and other issues of concern to CPAs, more than a few House and Senate leaders are likely be feeling a deeper appreciation for the accounting profession.At least that's what political fundraisers for the profession are hoping for after contributing a record $5.5 million dollars to support congressional candidates during the 2008 election campaign.

In today's economic climate, companies and accounting firms that give opinions on their clients' financial statements are sure to face new and significant challenges.Determining fair value, new policies regarding loan covenants and going-concern considerations are chief among them. This article takes a brief look at each of these challenges.

ACCOUNTING FIRM TARGETS MADOFF INVESTORSWestport, Conn.-Walter C. King Associates is offering tax recovery and forensic accounting services to investors who fell victim to Bernard Madoff's Ponzi scheme.

An economic triple threat - the collapse of equity markets, declining top-line revenue, and stingy banks - makes it a risky time to be in business or investing, and equally risky to be a CPA.All businesses are being squeezed hard. This creates pressure to cut corners or ignore the facts. Human nature being what it is, you must be extra-vigilant. CPAs are also expected by clients - and juries - to "advise and warn" clients who are teetering on the brink of losing their credit and their footing in business. If CPAs don't, a possible lawsuit could easily follow.

The Internal Revenue Service has published new tax-withholding tables as a result of the economic stimulus bill that should give most workers a bigger paycheck this spring.

President Barack Obama is expected to release his budget proposal this week, and he reportedly plans to include tax increases to close the deficit.

Regional accounting firm Schenck Business Solutions has created a Financial Crisis Response Team to help companies challenged by the recession.

The stimulus bill signed into law this week includes significant tax savings of up to $1,000 per year for workers who commute by mass transit.

CFOs and senior-level executive CPAs see the domestic economic downturn as lasting longer than previously expected, according to a survey by the American Institute of CPAs and the University of North Carolina’s Kenan-Flagler Business School.

When Timothy Geithner unveiled the Treasury Department’s latest financial rescue plan, he probably didn’t expect it to flop so quickly.

Proving generational clashes aren’t only taking place in the states, we found an article in an Australian small business publication quoting a 24-year-old KPMG employee in Melbourne worried about her future for the first time after her two close friends lost their jobs.

There is probably something in humans and in every generation that makes us think that the problems we face are uniquely difficult.

President Barack Obama plans to sign the stimulus bill into law in Denver on Tuesday after Congress passed the massive $787 billion bill.

President Barack Obama signed the massive $787 billion stimulus bill into law in an effort to boost the economy out of a deep recession.

The Illinois CPA Society is suggesting that couples have a heart-to-heart talk on Valentine’s Day about a topic that’s been making the rounds these days: money.