Accounting for employee share-based compensation could become less complex for private companies after FASB on Wednesday endorsed the decision by the Private Company Council (PCC) to propose a practical expedient for nonpublic entities. Share-based payment accounting has been discussed by the PCC on several occasions since 2013 because of two concerns: The permitted methods for […]
Archives for February 2020
Business Rewired: Preparing for turbulent times
According to our Business Rewired report, 2.6 million small business owners in the UK have genuine concerns about the future. They worry about broad business issues like late payments (54%), cyber-attacks (27%) and tax rates (44%). But they also worry about things like Brexit (44%), employee recruitment costs (19%) and increasing levels of productivity (31%) […]
6 Bookkeeping Pains An Outsourced Bookkeeping Service Can Resolve
For many businesses, their bookkeeping causes a lot of pain. However, when handled correctly, there are many pains that proper bookkeeping can remedy. Common reasons that bookkeeping causes pain are: it is intimidating, people don’t like it, and it’s often way behind because it gets pushed to the back burner. It is crucial to keep […]
IRS proposes rules to update income tax withholding, revises Form W-4
The IRS proposed new regulations (REG-132741-17) for withholding on individuals’ wages to reflect the statutory changes in the law known as the Tax Cuts and Jobs Act, P.L. 115-97, including the elimination of the personal exemption. The proposed rules and the new Form W-4, Employee’s Withholding Certificate (formerly titled Employee’s Withholding Allowance Certificate) no longer […]
SoftBank profit wiped out by Vision Fund losses, second fund scaled back
Quarterly profit at SoftBank Group Corp was almost wiped out as the Japanese technology giant was hit for a second straight quarter by losses at its $100 billion Vision Fund. Wednesday’s dismal results could further dampen investor enthusiasm for founder Masayoshi Son‘s big bets on untested start-ups. While Son told a news conference SoftBank had […]
What’s going to stop the 5G rollout?
Although 5G has many potential benefits, there are some barriers that will inhibit these services, particularly outside the private settings on a public network. High set-up costs To provide 5G services, of course, you need a network, says Pod Group’s Alistair Elliott. Unless an operator has deep pockets and they’re happy to wait for customers […]
FBI: $3.5B Lost in 2019 to Known Cyberscams, Ransomware
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CCI doesn’t have prima facie proof, Amazon tells HC
Illustration: Rahul Awasthi Amazon on Wednesday argued in front of a Karnataka High Court Judge that the Competition Commission of India (CCI), which is currently probing the company and its chief rival Flipkart over alleged business malpractices, did not have prima facie evidence to order the investigation into it. The company said that the CCI […]
Federal Reserve’s Patrick Harker says interest rates should ‘hold steady for a while’
Patrick Harker, President of Philadelphia Federal Reserve Bank, during the Fed’s annual Jackson Hole symposium in Wyoming. Gerard Miller | CNBC Interest rates should stay where they are as the economy grows and the consumer continues to be in good shape, Philadelphia Federal Reserve President Patrick Harker said Wednesday. A voter this year on the […]
India makes exemption for Nepal, allows some refined palmolein imports – sources
MUMBAI/KOLKATA (Reuters) – India, which restricted imports of refined palm oil and palmolein in January, has exempted Nepal and has started issuing licences to import some refined palmolein from the Himalayan nation, two government officials told Reuters. The move could put pressure on Indian refiners as imports from Nepal were allowed at zero duty under […]