With time running out for eligible entities to apply for Paycheck Protection Program (PPP) loans, the U.S. Small Business Administration announced Friday that it has revived its Lender Match online tool to help underserved and disadvantaged small businesses connect with PPP lenders. In a news release, the SBA described Lender Match as an additional resource […]
Archives for June 2020
Lease accounting effective date deferred for federal entities – Journal of Accountancy
Federal government entities will have extra time to implement a new lease accounting standard after the Federal Accounting Standards Advisory Board (FASAB) announced Friday that it is delaying the standard’s effective date. FASAB issued Statement of Federal Financial Accounting Standards (SFFAS) 58, Deferral of the Effective Date of SFFAS 54, Leases. SFFAS 58 defers the […]
Building a tech-forward forensic accounting team – FM | Financial Management
Finding fraud in the world of big data requires new skillsets above and beyond basic forensic accounting, including the ability to develop machine-learning-capable artificial intelligence and other custom tools to detect irregularities amidst vast amounts of digitised financial data. Because this is such specialised knowledge, it’s increasingly necessary to build teams that combine traditional forensic […]
Heading off Paycheck Protection Program fraud
As the federal government distributes $659 billion in forgivable loans to small businesses as part of the Paycheck Protection Program (PPP), it’s important that forensic accountants know the risks involved with the new program, how to spot criminals who are trying to take money illegally, and how to mitigate potential fraud, according to a recent […]
Weekend Reading for Financial Planners (June 20-21)
Executive Summary Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with the news that Washington is now seriously considering a potential $1T+ infrastructure bill, as President Trump indicates a trillion dollar proposal will be coming soon and Democrats are drafting their own $1.5T version, in the collective […]
Guidance on how to take CARES Act distributions from qualified plans
The IRS explained on Friday how qualified individuals can take coronavirus-related loans and distributions from eligible retirement plans (Notice 2020-50). Qualified individuals receive favorable tax treatment for those distributions under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136. Distributions: A coronavirus-related distribution is not subject to the Sec. 72(t) 10% additional tax […]
Podcast: How to help clients make good decisions in times of transition
The emotions underlying decisions can create confusion in times of major transition like the pandemic. In this podcast, you will walk away with gems to help you have better conversations with your clients that lead to action with purpose. Tune in as Lyle Benson interviews life transition expert Susan Bradley: What are the four stages […]
Fyers Vs 5Paisa Discount Broker Comparison – Review
Fyers vs 5Paisa – Fyers and 5Paisa both are leading discount brokers in India. Let’s talk about them one by one. Fyers is popular as a technology-focused discount stockbroker. Fyers offers trading with flat brokerage fee across all segments. Fyers provides trading in equity, cash, F&O, and currency derivatives segments. On the other hand, 5Paisa […]
Fathom debuts educational platform for accountants – Accounting Today
Fathom, which makes business analytics software, has created an educational platform to help accountants grow their businesses. Advisable taps advisory teams from around the world who share their insights and experience. “Our goal with Advisable is to help connect accountants with others who are on the same advisory journey,” said Andrew Jordon, Fathom’s director of […]
Revamping the podcast
I’m utterly in awe of what Daniel Ek is doing at Spotify with their podcast investments. The stock is up 63% over the past year, but 100% over the last month, as they sign one massive podcast deal after another. In just the last few days they’ve announced an exclusive deal with Warner Brothers to […]