Audit & Accounting

Red Wing Software has created a report tool within its CenterPoint Payroll Software designed to track employee status for the upcoming Patient Protection and Affordable Care Act (PPACA) requirement that employers with 50 or more full time employers must offer health coverage.

The U.S. Small Business Administration has approved over $561 million in disaster assistance loans for residents and businesses in New York affected by Hurricane Sandy and over $238 million for residents and businesses in New Jersey, and said it is eager to do more.

The Financial Accounting Foundation has completed a post-implementation review of an accounting standard dating back to 1996 that aimed to improve the way public companies report financial information about their business segments, and found that it generally achieved that purpose, although some companies are being less than forthcoming about all of their business segments.

While still predicting contraction in both the short- and the mid-term, the January edition of Accounting Today’s monthly Accountants Confidence Index rose somewhat from the previous month’s reading.

The Financial Accounting Standards Board has issued for public comment a proposal to improve financial reporting about repurchase agreements such as the type used by Lehman Brothers.

Deloitte has set up its own firm in China to replace the joint venture it formerly operated there.

When the boss at your first job out of college challenges you to run a marathon, what’s the recommended response?

The International Public Sector Accounting Standards Board has issued the first four chapters of its Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities.

Cloud financial and accounting software company FinancialForce.com has formed trust.financialforce.com, a new site that helps describe the company’s control processes, security, application quality and platform monitoring environment.

International Accounting Standards Board chairman Hans Hoogervorst said the U.S. Financial Accounting Standards Board is not likely to face obstacles in joining the new multinational Accounting Standards Advisory Forum that is being set up to provide input to the IASB on setting future accounting standards, even though the Securities and Exchange Commission has not formally committed to supporting International Financial Reporting Standards.