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Archives for 2020
PPP Loan Accounting: Creating Journal Entries
Congratulations on receiving a Paycheck Protection Program forgivable loan! But if you want to receive loan forgiveness, you need to use it for eligible expenses and keep detailed records. Read on to learn about Paycheck Protection Program (PPP) loan accounting. Eligible expenses for PPP loan forgiveness If you want your Paycheck Protection Program loan to […]
FASB staff Q&As address hedge accounting amid the pandemic – Journal of Accountancy
FASB’s staff addressed hedge accounting issues related to the coronavirus pandemic in a staff Q&A document posted to the board’s website Tuesday. Stakeholders have asked FASB how the postponement or cancellation of forecasted transactions related to the effects of the pandemic should be considered when applying cash flow hedge accounting under FASB ASC Topic 815, […]
FASB staff Q&As address hedge accounting amid the pandemic
FASB’s staff addressed hedge accounting issues related to the coronavirus pandemic in a staff Q&A document posted to the board’s website Tuesday. Stakeholders have asked FASB how the postponement or cancellation of forecasted transactions related to the effects of the pandemic should be considered when applying cash flow hedge accounting under FASB ASC Topic 815, […]
UBS sees spike in digital engagement. Could it be the new normal?
Clients have poured online in droves, signing up for UBS’ digital presentations in record numbers, the company said, another sign of how the coronavirus pandemic is transforming client-advisor relationships. The firm probably accelerated by five years user adoption of its digital tools, according to a person familiar with the matter. UBS reported that client log-ins […]
WhatsApp doubles video participants limit to 8
WhatsApp is doubling the number of participants on a WhatsApp video or voice call from 4 to 8 people at a time. The move could help it compete with popular videoconferencing app Zoom. WhatsApp said over the last month, people on an average are spending over 15 billion minutes talking each day on WhatsApp calls […]
Liberty SIPP goes into administration
Liberty SIPP Limited has entered administration, opening the door to FSCS compensation claims for hundreds of clients. Andrew Poxon and Alex Cadwallader of Leonard Curtis have been appointed as joint administrators. Liberty SIPP sold its business and customer assets to EBS Pensions, part of Embark Group, in October 2018 after Liberty was faced with mounting […]
EU sets out ‘quick fixes’ to boost bank lending during pandemic
LONDON (Reuters) – Banks should rein in bonuses to boost their capacity to help businesses and households hit by the coronavirus crisis, the European Union’s executive said on Tuesday. The European Commission set out a fresh package of temporary “quick fixes” offering capital relief that would support extra lending potentially worth up to 450 billion […]
Planner to Planner: Reality Meets Your Business Continuity Plan
There’s nothing quite like a pandemic to bring business continuity planning to the forefront of planners’ minds. In the most recent call in FPA’s Planner-to-Planner conversation series powered by TD Ameritrade Institutional and Vanguard, host Elizabeth Jetton, M.Ed., CFP®, guided a conversation about what planners have learned about continuity planning from previous crises, and what […]
You can’t invest in GDP
First, here’s a look at the global recovery in stocks since the S&P 500 lows of March 23rd, about a month ago, via some of the most widely used index ETFs… If only people’s lives and businesses had seen a bounce with the same ferocity… Now, my periodic reminder that investing in the stock market […]