FASB issued a standard Monday that is designed to improve the board’s lease accounting rules related to a lessor’s accounting for certain leases with variable lease payments. Under Topic 842, Leases, a lessor may be required to recognize a selling loss at lease commencement (day-one loss) for a sales-type lease with variable payments even if […]
Archives for July 2021
GASB proposal addresses a variety of governmental accounting issues
GASB proposed an accounting standard Monday that would address a wide range of issues for state and local government finance departments that have been identified by the board as needing attention. The issues included in the exposure draft, Omnibus 20XX, include: Accounting and financial reporting for exchange or exchange-like financial guarantees. Classification and reporting of […]
Schumer to push Senate forward on bipartisan infrastructure bill, budget resolution this week
U.S. Senate Majority Leader Chuck Schumer (D-NY) is flanked by Senators’ Patty Murray (D-WA), Dick Durbin (D-IL) and Debbie Stabenow (D-MI) as he talks to reporters following the Senate Democrats weekly policy lunch at the U.S. Capitol in Washington, U.S., July 13, 2021. Elizabeth Frantz | Reuters Senate Majority Leader Chuck Schumer, D-N.Y., plans to […]
Security and device on-boarding woes fail to stop enterprises raising IoT spend
We all know about the predictions for multiple billions of “things” being connected over the next few years, but are Internet of Things (IoT) networks delivering what they promised? Here, business technology journalist Antony Savvas considers some new research. Whilst many enterprises seem to be going down the IoT path to aid connectivity and help […]
Robinhood sets sights on a $35B valuation in its IPO
Robinhood is seeking a valuation of $35 billion in its initial public offering, just short of the highest analyst projections, as the free trading app advances toward a debut likely to attract buyers from its own novice investor base. The company at the center of this year’s meme stock frenzy will market 55 million shares […]
Enrolled Agent vs CPA: Which One Do I Need?
The financial field is full of acronyms, from AIR and APR to CD and ETF. When discussing financial help for your business, CPA and EA are two acronyms that may emerge, commonly listed side-by-side or used interchangeably. While CPA stands for certified public accountant, EA refers to an enrolled agent. However, these two financial professionals […]
Become Your Own Accountant with This QuickBooks Training
Take a deep dive into payroll, bookkeeping, and much more. Free Book Preview Money-Smart Solopreneur This book gives you the essential guide for easy-to-follow tips and strategies to create more financial success. July 19, 2021 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. […]
Experienced trio launches new wealth manager
Three experienced advisers have joined forces to launch a new wealth management firm in Hertfordshire. WealthWise Financial Solutions is based in Elstree and has 10 staff at launch. Co-founders Daniel Aharon, Neil Jacobs and Alex Mammon, who together have over 50 years of experience, believe there is space in the market for a new, post-pandemic […]
3 Types Of Focused Marketing Approaches To Accelerate Growth Of Your Firm
Executive Summary In the early days of financial planning, advisors often relied on marketing strategies that were based on a phone book, telephone, and their own ingenuity. As the internet developed, though, advisors became able to reach wider audiences, which has only compounded with the rise of social media. At the same time, advisors identified […]
Accountants, Lawmakers Urge Rules on Crypto Accounting – The Wall Street Journal
Accountants and lawmakers are urging standard-setters to fill a void and write concrete rules telling companies how to account for bitcoin and other cryptocurrency assets. The assets, for which there are no binding U.S. accounting requirements, have drawn regulators’ interest after sharp swings in recent months and investments by companies such as electric-car maker Tesla […]