The AICPA offered recommendations Thursday for the CPA firm-lender relationship related to firms assisting clients that are seeking Paycheck Protection Program (PPP) funding. In the interest of advancing a clear and orderly loan application process, the AICPA recommended that the CPA contact the lender before offering assistance to and performing advisory work for the client. […]
Auditors displaying dedication during pandemic, CAQ’s Lindsay says
The dedication displayed by audit firms since the coronavirus pandemic caused a shift to remote working left a strong impression on Center for Audit Quality Executive Director Julie Bell Lindsay. “For the first two weeks, in talking to members of the firms and teams and staff, they were working around the clock, and I’m not […]
House approves additional funding for Paycheck Protection Program
The U.S. House of Representatives passed legislation Thursday that will provide $370 billion in additional pandemic-relief funding for small business as part of a larger aid package. President Donald Trump is expected to quickly sign the $484 billion Paycheck Protection Program and Health Care Enhancement Act, which was approved by the Senate on Tuesday. Most […]
What Homeowner Associations Need to Know About Accounting Standard Changes for Revenue Recognition | Daily Business Review – Law.com
Monta Kane and Diana Rivera, Principal MBAF in Miami (Photo: Courtesy Photo) In 2016, the Financial Accounting Standards Board (FASB) released a new standard, ASC 606 – Revenue from Contracts with Customers. The new standard is effective for Dec. 31, 2019, financial statements, and the changes in revenue recognition it has created, have a significant […]
What in the World Is Form 1065-X?
As a business owner, you probably made a few mistakes when you started your venture. And, you probably haven’t seen the last of them. Mistakes happen, especially when you’re responsible for things like filling out accounting forms. If you made a mistake on Form 1065, 1065-B, or 1066, you can correct errors using Form 1065-X. […]
Tips for navigating CPA challenges related to PPP
News FINANCIAL REPORTING & AUDITING By Ken Tysiac {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} Designed by Congress to provide a lifeline to small businesses and not-for-profits that are suffering from the economic effects of the coronavirus pandemic, the Paycheck Protection Program (PPP) has resulted in many questions for CPAs attempting to serve their […]
The death of traditional accounting – Accounting Today
It wasn’t that long ago that people drove their cars holding a large unfolded map in one hand, glancing at it now and then to determine when to make the next turn. Today, we look back and marvel at how antiquated this everyday practice has become. Technology has a way of doing that to us, […]
Avii’s New Cost Calculator Shows Accountants Exactly What Their SaaS and Accounting Software Platform Functionality Costs – Yahoo Finance
How do you audit an auditor? It may seem like the price accounting practices are paying for accounting software is an easy answer, but in most cases, the genuine answer may be a giant surprise. AviiTM (www.avii.com), a leading practice management platform for tax, audit, advisory, compliance and management consulting firms, today released the Accounting […]
Avii’s New Cost Calculator Shows Accountants Exactly What Their SaaS and Accounting Software Platform Functionality Costs – Yahoo Finance
How do you audit an auditor? It may seem like the price accounting practices are paying for accounting software is an easy answer, but in most cases, the genuine answer may be a giant surprise. AviiTM (www.avii.com), a leading practice management platform for tax, audit, advisory, compliance and management consulting firms, today released the Accounting […]
How an epic gamble exposed the rot inside an oil empire – Accounting Today
The letters started to arrive in early April. One after the other, the titans of global finance, from JPMorgan Chase & Co. to HSBC Holdings Plc, demanded the immediate and urgent repayment of hundreds of millions of dollars in loans. On the receiving end was Hin Leong, one of the most powerful and secretive names […]