Women are underrepresented as partners and top executives in the accounting profession. Changing that requires pulling three levers: talent acquisition, retention, and promotion. Each lever has to be operating, and none can be missing to help women — particularly women of color — advance in the field, speakers at an ENGAGE 2020 panel advised on […]
Provider Relief Funds included in audit determination, HHS says
Provider Relief Fund payments are required to be included in the federal funding that determines whether nonfederal entities meet the $750,000 threshold for single audit requirements and whether for-profit entities are required to meet audit requirements, the U.S. Department of Health and Human Services (HHS) announced Wednesday. Created by the Coronavirus Preparedness and Response Supplemental […]
Accounting Today names 2020 Best Firms to Work For – Accounting Today
Accounting Today and Best Companies Group have announced the members of the 2020 Best Accounting Firms to Work For list. The annual survey and awards program is designed to identify, recognize and honor the best employers in the accounting profession. The list is made up of 100 firms (in alphabetical order and unranked): Abacus CPAs […]
What Is an IPO? The Process of Going Public
If your business is private, at some point or another you may consider going public. When you go public, you go through an IPO process. So, what is an IPO? Read on to learn the ins and outs of an IPO, what the process entails, and the pros and cons of going public. What is […]
Answers to 4 common accounting and auditing questions – Journal of Accountancy
Recently issued FASB standards for revenue recognition, lease accounting, and the private company variable-interest entity (VIE) consolidation have led to companies’ and practitioners’ asking a host of questions about the preparation and auditing of financial statements. During the AICPA’s ENGAGE 2020 virtual conference Tuesday, some of these frequent questions were addressed by Center for Plain […]
Staff do worse when asked to report frequently, accounting study shows – CFO Dive
Dive Brief: Staff who are frequently asked to report on their progress perform their work more poorly than staff who aren’t subject to the same reporting requirements, a study published this week in The Accounting Review found. The findings have implications for accounting staff working remotely if their supervisor is asking for frequent updates, says […]
GILTI rules address income subject to high foreign tax rate
The IRS issued an additional regulation package on the global intangible low-taxed income (GILTI) provision, Sec. 951A, which was added by the law known as the Tax Cuts and Jobs Act, P.L. 115-97, and requires 10% U.S. shareholders of controlled foreign corporations (CFCs) to include in their gross income their share of the CFC’s GILTI […]
How to Determine Profit Margin for Your Small Business in 3 Simple Steps
To grow your business, you need to track financial information and measure performance. One metric you should be keeping an eye on is your business’s profit margin. Read on to learn how to determine profit margin for your company and ways to improve your margins. What is profit margin? Before you can dive into determining […]
AICPA urges Congress to act on PPP issues, other topics in pandemic legislation
The AICPA urged Congress to take action on Paycheck Protection Program (PPP) issues, remove tax obstacles to remote work, support state and local governments, and adopt new coronavirus-related liability provisions in a letter to congressional leaders sent Monday. “While the federal government’s efforts to date have blunted economic decline, the recent resurgence of reported coronavirus […]
5 Easy Ways to Increase Your Profit Without Bringing in a Sale
July 20, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. You are a successful business owner, and you are so good at what you do. Your clients love you, you love running your business and serving your clients and you’re always striving to improve on your skills. Your business couldn’t be better … or could […]