Florida A&M University has been given a six-month window to straighten out its accounting problem or risk losing its accreditation by the Southern Association of Colleges and Schools. The school has come under fire after a state auditor revealed that the school's inspector general's office had gone 40 months without any formal reports on internal investigations, and that $39 million in transactions and budget amendments were made without approval of the school's board of trustees. In addition the school has some $1.8 million in missing receipts for athletic-event tickets and $11,000 in bad checks were written by the administration. Students attending an unaccredited school are typically not eligible for financial aid.
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The Digital Business Networks Alliance, a Federal Reserve-sponsored group, announced the first successful transmission of an electronic invoice.
March 27 -
Besides a negative outlook on work-life balance, comp and career development questions are driving people away from the auditing profession.
March 27 -
Is the age of the bookkeeper coming to an end? Is the payroll specialist an endangered species? Are the days of the tax preparer who focuses on basic 1040s numbered?
March 27 -
The jobs that will become a lot less common in accounting in the future are those that involve the inputting and manipulation of data for routine and repeatable tasks.
March 27 -
Does your job primarily involve data entry and routine processes? If so, it may be time for a pivot.
March 27 -
An employee stock ownership plan may be the answer as the accounting profession faces a talent shortage.
March 27