According to Bloomberg’s Anthony Carpaccio, the Department of Defense made $35 trillion in “accounting adjustments” in 2019, easily surpassing the $30.7 trillion in such adjustments recorded in 2018. Carpaccio notes that the number “dwarfs the $738 billion of defense-related funding in the latest U.S. budget, a spending plan that includes the most expensive weapons systems […]
7 Tips for Giving Your Post-holiday Sales a Boost
For many businesses, the hustle and bustle of holiday shopping has come to a close. You’ve probably noticed a decrease in customer sales and an increase in returns and exchanges. But fear not. This just means that it’s time to give your post-holiday sales some love. With the right promotions, marketing tactics, and pricing strategies, […]
Americans’ financial satisfaction at all-time high
News PERSONAL FINANCIAL PLANNING By Anita Dennis {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} Americans’ financial satisfaction hit an all-time high in the fourth quarter of 2019, according to the AICPA’s Q4 2019 Personal Financial Satisfaction Index (PFSi). Gaining ground from the previous quarter and up significantly from its record lows a decade ago, […]
Pentagon racks up $35T in accounting changes in one year – Accounting Today
The Pentagon made $35 trillion in accounting adjustments last year alone — a total that’s larger than the entire U.S. economy and underscores the Defense Department’s continuing difficulty in balancing its books. The latest estimate is up from $30.7 trillion in 2018 and $29 trillion in 2017, the first year adjustments were tracked in a […]
Pentagon racks up $35T in accounting changes in one year – Accounting Today
The Pentagon made $35 trillion in accounting adjustments last year alone — a total that’s larger than the entire U.S. economy and underscores the Defense Department’s continuing difficulty in balancing its books. The latest estimate is up from $30.7 trillion in 2018 and $29 trillion in 2017, the first year adjustments were tracked in a […]
How firms are delivering value with audit data analytics
When Ed Wilkins, CPA, talks to audit committees about adding data analytics to the audit process, he explains to them that it usually takes three years for investment in a complex audit analytic to pay for itself. Audit analytics give practitioners the ability to examine an entire dataset rather than just a sample, improving the […]
How IRS Form 2553 Can Shake Up Your Company
When you start your business venture, you choose what type of business structure you want your company to be. Maybe you chose to be a sole proprietor and handle business on your own. Or, maybe you decided to structure your business as a corporation. But, what happens if you’re not too keen on the structure […]
Women’s initiatives: How the pilot programs worked
Three years ago, the AICPA Women’s Initiatives Executive Committee (WIEC) launched a pilot program and chose three midsize public accounting firms to participate. The mission? To kick off a step-by-step plan to create internal women’s programs from scratch or to rejuvenate such programs already in the works. These initiatives aim to not only improve the […]
Audit: Franklin schools’ accounting in good shape – Wakeweekly
By Chris L. Harris Special to The Wake Weekly LOUISBURG — After a presentation from accounting firm Dixon Hughes Goodman on Monday, the Franklin County Board of Education unanimously approved accepting the results of a finalized financial audit relating to the 2018-19 fiscal year. Tyler Baity, a senior assurance manager with the firm, presented what […]
RBI New rules to enhance security of Credit and Debit Cards – How it impacts you?
There has been consistent increase in the usage of credit and debit card transactions both for online and in-store purchases. This has also led to surge in frauds related to these card transactions. To counter these cards related fraud and to enhance customer control over transactions RBI has proposed following rules. For New Cards or […]