HANOI (Reuters) – Vietnam’s Bamboo Airways and VietJet Air will resume domestic flights from Thursday after the expiry of a government order for 15 days of social distancing norms to be observed, the companies said. From late March, Vietnam ordered curbs on domestic flights and adopted social distancing nationwide to curb the spread of the […]
Archives for 2020
UK fintech firm ClearScore to shut India operations
UK-based fintech company ClearScore has said it will shut its India business effective April 13, within a year of starting operations, due to the financial impact of the Covid-19 pandemic. This could be the first instance of a fintech company shutting down due to the coronavirus. ClearScore India was launched in September 2019 and offered […]
Prosus will keep investing in core areas, eyes M&As
Prosus—one of the biggest backers of India’s internet economy with investment of over $5 billion— said it is keeping cash reserves for potential M&A opportunities for portfolio. The firm said it’s focusing on the health of the businesses it has invested in so that they can come out stronger from current crisis as it deals […]
Confirmed coronavirus cases in the US pass 500,000, according to Johns Hopkins University
The coronavirus has now infected over 500,000 people in the U.S. on Friday night, constituting almost one-third of all cases across the globe, according to data from Johns Hopkins University. As of 9:25 p.m. Eastern Time, the U.S. has recorded 500,399 cases of the coronavirus disease, or Covid-19, of which 174,481 were in New York, […]
For e-commerce firms, April may be the cruellest month
Illustration: Rahul Awasthi E-commerce firms in India, including leaders Amazon and Flipkart, will take a major hit if sales of non-essential items continue to be restricted and the lockdown is prolonged, industry executives and analysts said. Smartphones, electronics, furniture, large appliances, among others, have been categorised as non-essential items in the current situation, but contribute […]
CPA Exam testing center closings extended through May 1
News PROFESSIONAL DEVELOPMENT By Ken Tysiac {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} The coronavirus pandemic has cut even more into the second-quarter testing window for the CPA Exam as Prometric announced Friday that its testing centers in the United States and Canada will remain closed through at least May 1. Earlier, Prometric had […]
Podcast: Connecting with clients in the current environment
Increased health risks related to COVID-19, social distancing mandates, and the financial aspects of the CARES Act and other legislation has rapidly and dramatically changed the way CPA financial planners are practicing and serving their clients. There are practical considerations you can address and steps you can take in your practice to make sure you […]
FASB issues Q&As to clarify pandemic lease accounting issues – Journal of Accountancy
FASB posted a staff Q&A document to its website Friday that is designed to clarify pandemic-related questions about lease accounting. As a result of economic disruptions caused by the pandemic, many lessors will provide lease concessions to tenants. The Q&A states that for concessions related to the effects of the coronavirus pandemic, an entity will […]
IRS launches tool for nonfilers to receive stimulus payments
The IRS has launched an online portal for taxpayers who are eligible to receive an economic impact payment but who are not normally required to file an income tax return because their income is too low ($12,200 for individuals or $24,400 for married couples filing jointly for 2019). The online portal allows people to enter […]
Weekend Reading for Financial Planners (Apr 11-12)
Executive Summary Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with the news that, with the explosive popularity of the $350B Paycheck Protection Program (PPP) for small businesses over the past week, Treasury Secretary Mnuchin is already seeking a $250B expansion to ensure that the dollars don’t […]