Paytm chief executive Vijay Shekhar Sharma said Google’s decision to defer the levy of a 30% commission from Indian businesses selling digital goods through Play Store apps was an “admission of guilt” by the US-based tech giant. Google last week said it would charge the commission on developers globally from September 2021. Sharma alleged that […]
Archives for 2020
IESBA revises code of ethics for accountants’ societal role and mindset – Accounting Today
The International Ethics Standards Board for Accountants released revisions Monday to the International Code of Ethics for Professional Accountants (including International Independence Standards) to place more emphasis on the role and mindset expected of all professional accountants. The revisions explicitly state that the accounting profession is entrusted with public confidence in the wide-ranging roles played […]
FASB delays insurance standard, focuses on post-implementation reviews – Accounting Today
The Financial Accounting Standards Board has voted to defer the effective date of its long-duration insurance contract standard for one year in response to the coronavirus pandemic, as it takes over the process of conducting post-implementation reviews of some of its recent accounting standards such as revenue recognition, leases and credit losses. Last Wednesday, FASB […]
PPP borrowers, lenders get change-in-ownership guidance from SBA
New guidance issued by the U.S. Small Business Administration (SBA) describes the procedures required for changes of ownership of an entity that has received Paycheck Protection Program (PPP) funds. Addressed to SBA employees and PPP lenders, the SBA procedural notice describes when a change of ownership is considered to have occurred and the responsibilities a […]
Black-T Malware Emerges From Cryptojacker Group TeamTNT
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Securities America advisor charged with fraud in cherrypicking scheme: SEC
A Securities America financial advisor allegedly earned 4% on his own account and negative 13% for his clients as part of a cherrypicking scheme that lasted more than a year, according to the SEC. Corbin L. Lambert used option purchases in his hybrid RIA’s omnibus trading account with Charles Schwab that he allocated between accounts […]
Whatever comes after Trump and Biden will be worse
What has developed is more like a K. On the upper arm of the K are well-educated and well-off people, businesses tied to the digital economy or supplying domestic necessities, and regions such as tech-forward Western cities. By and large, they are prospering. On the bottom arm are lower-wage workers with fewer credentials, old-line businesses […]
Upcoming festive sales will see a significant jump in online shoppers: Survey
There could be a major increase in the number of consumers for whom e-commerce will be the primary channel for shopping this festive season, as they look at sourcing even mundane items such as namkeens, sweets and other groceries through online shopping apps and websites, according to a new survey. The number of festive shoppers […]
Segal Speaking Series benefits accounting students – The Brown and White
Jeff Goldberg The Segal Accounting Distinguished Speaker Series returned on Sept. 23 and featured Jeff Goldberg, ‘92, associate chief counsel at Amazon. The Distinguished Speaker Series is part of an accounting course in which students are educated about issues pertaining to the accounting profession from successful alumni. The course is offered through Zoom this semester […]
Infibeam Avenues signs deal to license ecommerce and payment software to Jio Platforms
Infibeam Avenues said it has signed a deal to license its ecommerce and payment software to Jio Platforms, Reliance Jio’s digital platform venture.the company said in a BSE filing. Infibeam Avenues is the Gandhinagar-headquartered parent of payment gateway company CCAvenue. “We hereby inform that the Company has entered into a definitive agreement with Jio Platforms […]