Clients who make withdrawals from their defined contribution plans under the CARES Act to cover coronavirus-related expenses may experience long-term financial strain. Those who do not pay back that money back, as permitted by the act, could find a median of 20% less in their retirement accounts when they turn 65, according to research by […]
Archives for July 2020
GASB delves into financial statement elements, revenue and expense models
GASB on Wednesday issued a proposed concepts statement addressing recognition of financial statement elements as well as a call for feedback on preliminary views on revenue and expense recognition model proposals. The proposed concepts statement on recognition of financial statement elements proposes a framework of interrelated objectives and fundamental principles that can be used by […]
Financial Planning Is for Everyone: How to Work With Diverse Clients
The United States is facing a reckoning when it comes to who has historically benefitted from privilege, and who hasn’t. Our country has enacted racist policies that made it more difficult, if not impossible, for Black Americans, other Americans of color, and immigrants to succeed. The financial planning industry has not been historically kind to […]
ETtech Top 5: Homegrown video apps gain traction, digital payments recovery & more
Startups and tech companies are racing to fill the void due to the ban on Chinese apps and cashing in on the demand created by people looking for local alternatives of such apps. 1. Local video push Flipkart is piloting influencer-led video commerce with 2GudSocial, aimed at consumers from small towns and lower-income groups. The […]
Digital payments recover to pre-Covid-19 levels in June
The volume of transactions on retail payment channels operated by the National Payments Corporation of India have either surpassed or are inching back to pre-Covid-19 levels in June, data released by NPCI on Wednesday showed. Channels such as the Unified Payment Interface (UPI), Fastag, Bharat Bill Payment System (BBPS) and Immediate Payment Service (IMPS) had […]
A post-pandemic to-do list – Accounting Today
The coronavirus pandemic continues to test the accounting profession in unprecedented ways and, for the most part, accountants are rising to these unique challenges — advising clients on how to keep their businesses afloat while focusing on the recovery of their own practices and people. Now, as the economy slowly reopens, accountants enter a new […]
The Gold Breakout
This is the biggest story of the week. Here’s JC Parets at All Star Charts: There has only been one other month in the history of the universe where Gold closed at a higher price than it did yesterday. That was August of 2011. The trend here is still up: There will be a lot […]
Spotify extends Premium Duo plan to India & several other markets
Image Source: Spotify Audio streaming service Spotify is extending its Premium Duo subscription plan to several markets including India. Designed for couples, Premium Duo allows two individuals to get their own Spotify premium account under a single plan for Rs 149 per month. In addition, Spotify will also provide access to a special playlist called […]
Our dependence on foreign apps with their own agenda must stop: Ravi Shankar Prasad
The ban on Chinese apps is a great opportunity to build and promote “Made in India” apps, in line with the government’s Atmanirbhar Bharat initiative, said Union Minister for Electronics and IT, and Law & Justice, Ravi Shankar Prasad, on Wednesday. The dependence on “foreign apps with their own agenda for a variety of reasons” […]
Name change for Carpenter Box Financial Planning arm
Financial Planning firm MHA Carpenter Box is changing the name of its wealth management arm to MHA Carpenter Box Financial Advisers from today. The division was previously called MHA Carpenter Box Wealth Management. The division, part of a large accountancy business in the South, says the change reflects an expansion of services offered by the […]