The U.S. Small Business Administration (SBA) and Treasury have agreed to publish the names and amount ranges for all recipients of Paycheck Protection Program (PPP) loans of $150,000 or more. In a news release issued Friday night, Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza said they had reached an agreement with the bipartisan […]
SBA launches tool to match underserved borrowers with PPP lenders
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 […]
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 […]
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 […]
Former Nuvance CIO’s lawsuit sheds light on accounting discrepancy – ModernHealthcare.com
A lawsuit from a former member of Nuvance Health’s C-suite sheds light on an accounting discrepancy that’s the subject of an ongoing investigation. Formed through the April 2019 merger between Western Connecticut Health Network and Health Quest, Nuvance learned later that year that Health Quest had overstated the amount it was owed by patients by […]
Purchasing System: A Fresh Way to Manage Your Business’s Inventory
As a business owner, you need an efficient way to monitor your inventory and determine how much to buy and when. One way to do this is by utilizing a purchasing system. Read on to learn about purchasing systems and how they work. What is a purchasing system? So, what is a purchasing system exactly? […]
Surviving This Economic Downturn: How A Strong Accounting Team Could Help – Forbes
Getty Getty According to IRS data, more than 35% of businesses never reopen after a disaster. For small businesses, these numbers are likely much higher. During economic downturns, leaders often feel stuck and isolated, and many business owners are extremely fearful about the future of their company. COVID-19 has shaken most companies and overnight has […]
BDO merges in PBTK – Accounting Today
BDO USA, a Chicago-based Top 10 Firm, has added Piercy Bowler Taylor & Kern, CPAs, a firm based in Las Vegas, expanding BDO’s presence in Nevada and Utah. The deal will add nine partners and approximately 60 professionals from PBTK to BDO and is expected to close on July 1. Financial terms were not disclosed. […]