Dive Brief: Staff who are frequently asked to report on their progress perform their work more poorly than staff who aren’t subject to the same reporting requirements, a study published this week in The Accounting Review found. The findings have implications for accounting staff working remotely if their supervisor is asking for frequent updates, says […]
GILTI rules address income subject to high foreign tax rate
The IRS issued an additional regulation package on the global intangible low-taxed income (GILTI) provision, Sec. 951A, which was added by the law known as the Tax Cuts and Jobs Act, P.L. 115-97, and requires 10% U.S. shareholders of controlled foreign corporations (CFCs) to include in their gross income their share of the CFC’s GILTI […]
How to Determine Profit Margin for Your Small Business in 3 Simple Steps
To grow your business, you need to track financial information and measure performance. One metric you should be keeping an eye on is your business’s profit margin. Read on to learn how to determine profit margin for your company and ways to improve your margins. What is profit margin? Before you can dive into determining […]
AICPA urges Congress to act on PPP issues, other topics in pandemic legislation
The AICPA urged Congress to take action on Paycheck Protection Program (PPP) issues, remove tax obstacles to remote work, support state and local governments, and adopt new coronavirus-related liability provisions in a letter to congressional leaders sent Monday. “While the federal government’s efforts to date have blunted economic decline, the recent resurgence of reported coronavirus […]
5 Easy Ways to Increase Your Profit Without Bringing in a Sale
July 20, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. You are a successful business owner, and you are so good at what you do. Your clients love you, you love running your business and serving your clients and you’re always striving to improve on your skills. Your business couldn’t be better … or could […]
5 Ways COVID-19 Has Complicated Lease Accounting — And How to Fix It – FEI Daily
© SonerCdem/iStock/Getty Images Plus Months into a public health emergency that has upended lives worldwide and unleashed persistent economic turmoil across industries, many businesses are still struggling to respond effectively and create viable plans. It’s an unpredictable situation, and companies are using every measure at their disposal to improve their financial position while waiting the […]
Presenting the 2020 NJBIZ Accounting Power 50 – NJBIZ – NJBIZ
“Let’s run the numbers.” It’s a direction that precedes a lot of important business decisions. Leaders want to know, to greatest extent possible, the potential costs and benefits of their actions. Later, they want to know exactly how their decisions affected the bottom line. And the professionals who deliver the data are usually accountants. NJBIZ […]
Global Coronavirus Deaths Surpass 600000, With U.S. Accounting For Nearly A Quarter – NPR
A billboard in Miami — where coronavirus cases continue to surge — depicts a medical worker holding up the world. The number of coronavirus deaths worldwide has surpassed 600,000, with more than 140,000 of those in the U.S. Joe Raedle/Getty Images hide caption toggle caption Joe Raedle/Getty Images A billboard in Miami — where coronavirus […]
Pott County hires McPherson accounting firm to help handle virus money – Manhattan Mercury
Pottawatomie County commissioners Monday approved hiring a McPherson accounting firm to help guide administrators with $4.9 million the county is expected to receive in coronavirus aid. At the recommendation of Administrator Chad Kinsley, the commission approved hiring the firm of Swindoll, Janzen, Hawk & Lloyd to audit and do the reporting for the funds the […]
Fed expands Main Street Lending Program to more not-for-profits
The Federal Reserve Board announced Friday that it has modified the Main Street Lending Program to provide greater access to credit for not-for-profit organizations such as educational institutions, hospitals, and social service organizations. Specifically, the board approved two new loan options to help not-for-profits that were in sound financial condition before the COVID-19 pandemic hit. […]