Alphabet on Tuesday beat analysts’ estimate for quarterly revenue as its Google unit posted double-digit advertising growth despite the economic slowdown from the novel coronavirus. Shares of Alphabet rose 4% to $1,282 following the after-hours release of financial results. Alphabet shares were down about 8% this year at Tuesday’s close. A booming economy and rising […]
Archives for April 2020
Govt starts e-retail chain for rural India
It’s the desi, rural version of Flipkart and Amazon, and is promoted by the government. Concerned over the severe restrictions on mobility and lack of adequate supplies in times of Covid-19, the government has facilitated the creation of a village-level online retail chain, planning massive supplies of essentials through fast-expanding outlets that are taking orders […]
Cyber attack fears high due to work from home: NTRO
India’s critical sectors may fall prey to inimical forces which could use relaxations in geofencing restrictions granted to employees working from home to make cyber attacks, said an assessment by the National Technical Research Organisation (NTRO). Sectors including government undertakings, strategic and public enterprises, banking and financial services, telecom, power, energy and transport, among others, […]
Amazon India offers zero interest credit
Amazon India will give zero-interest credit to customers to buy products on its platform or pay bills, partnering lenders Capital Float and Karur Vysya Bank for the initiative. The company has followed in the footsteps of rival Walmart-owned Flipkart and a slew of smaller startups such as LazyPay, Simpl and ePayLater to launch a ‘buy-now-pay-later’ […]
FMCG firms take direct route to customer homes
Representative Image More than a dozen consumer goods companies including Hindustan Unilever, ITC, Mondelez, Procter & Gamble, Dabur and Colgate have started selling products directly to consumers. That’s circumventing traditional trade and distributor networks in areas where last-mile delivery has been disrupted due to Covid-19 restrictions. Their latest direct-to-home initiatives involve partnering startups such as […]
Federal Reserve seeks banks’ advice as it gets into direct lending with coronavirus relief
A pedestrian walks outside the Federal Reserve Bank building in Washington. Kevin Lamarque | Reuters The Federal Reserve has reached out to investment and retail banks for feedback on its Main Street lending program ahead of its formal launch, according to people familiar with the matter. The central bank earlier this month laid out in […]
Enterprise Security Woes Explode with Home Networks in the Mix
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PPP Loan Accounting: Creating Journal Entries
Congratulations on receiving a Paycheck Protection Program forgivable loan! But if you want to receive loan forgiveness, you need to use it for eligible expenses and keep detailed records. Read on to learn about Paycheck Protection Program (PPP) loan accounting. Eligible expenses for PPP loan forgiveness If you want your Paycheck Protection Program loan to […]
FASB staff Q&As address hedge accounting amid the pandemic – Journal of Accountancy
FASB’s staff addressed hedge accounting issues related to the coronavirus pandemic in a staff Q&A document posted to the board’s website Tuesday. Stakeholders have asked FASB how the postponement or cancellation of forecasted transactions related to the effects of the pandemic should be considered when applying cash flow hedge accounting under FASB ASC Topic 815, […]
FASB staff Q&As address hedge accounting amid the pandemic
FASB’s staff addressed hedge accounting issues related to the coronavirus pandemic in a staff Q&A document posted to the board’s website Tuesday. Stakeholders have asked FASB how the postponement or cancellation of forecasted transactions related to the effects of the pandemic should be considered when applying cash flow hedge accounting under FASB ASC Topic 815, […]