Application guidance on GASB’s state and local government accounting standards for derivative instruments, fiduciary activities, leases, and nonexchange transactions is included in a new implementation guide the board issued Wednesday. The guide also includes amendments to previously issued implementation guidance on the financial reporting model, sales and pledges, and intra-entity transfers. GASB periodically issues new […]
Archives for 2021
Accelerating 2021 Business Sales To Navigate Biden’s Proposed Capital Gains Tax Increase
Executive Summary When investments appreciate in value, their capital gains are subject to preferential tax rates, which were first established to incentivize taxpayers to invest their available savings for growth. However, President Joe Biden’s recently proposed American Families Plan, calling for substantial tax reform, includes a number of changes that would dramatically reshape the taxation […]
GASB addresses accounting changes and error corrections – Journal of Accountancy
GASB proposed changes Tuesday to its accounting and financial reporting guidance for accounting changes and error corrections that has been in effect for more than 40 years. The current requirements for state and local government financial reporting on accounting changes and error corrections were established in the 1970s before being codified in 2010 in GASB […]
Can’t See Into the Future? Don’t Be Surprised If You Have a Variance in Accounting
Forecasting how much you’re going to spend and receive is a key part of running a business. But, rarely do predictions match actual income and expenses. More than likely, you’ll experience a variance in accounting at some point. Variances are normal in accounting. But, that doesn’t mean you can’t analyze variances and learn from them. […]
Three IT hacks every WFH employee must have in 2021
The COVID-19 pandemic has created an opportunity for many organisations in realising the benefits that it can bring to their business while ensuring a better work-life balance for their employees, says Yash Mehta, an IoT and Big Data Science specialist. Work from home (WFH) has now become the new normal with the help of advanced […]
#FA Success Ep 231: From CPA Lifestyle Practice To Billion Dollar Multi-Generational RIA Enterprise, With Michael Goodman
Executive Summary Welcome back to the 231st episode of the Financial Advisor Success Podcast! My guest on today’s podcast is Michael Goodman. Michael is the Founder and President of Wealthstream Advisors, a fee-only RIA headquartered in Manhattan that manages over $1b in assets for 350 client families. What’s unique about Michael, though, is that he used […]
Sovereign Gold Bond Dates ★ When the New Issue would come out?
Sovereign Gold Bond is quite a popular investment scheme and rightly so. It’s one of the best ways to invest in gold due to ease of investment, easy management, tax free capital gains and guarantee by government of India. However there has always been confusion about Sovereign Gold Bond Dates – When the New Issue […]
EFOY New Beginnings Series: How to make your travelling dreams and work at the same time.
This month, owner and operator of First Class Accounts Vermont, Carol Girvan, talks us through the highs and lows of running a bookkeeping firm while travelling the country. Having worked in financial services for 30 years, Carol Girvan has witnessed plenty of change in her time. Starting out in a payroll software company, Carol eventually […]
What small businesses need to know before end of financial year 2021, including about the Federal budget concessions.
By Milton Young, First Class Accounts Tullamarine, Franchisee of the Year 2020 Small businesses are winners in the Federal budget thanks to instant asset write-off which allows them to claim deductions upfront, rather than through depreciation. June is here. While many of the budget changes will start from 1 July 2021, knowing what will change […]
Best ways to show off your portfolio online
Best ways to show off your portfolio online | Reckon Blog Blog Post Home > Tips > Best ways to show off your portfolio online