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An agent who questioned Paradigm’s accounting is suing the company – Los Angeles Times
An ex-partner of Paradigm Talent Agency is alleging in a lawsuit that she was fired by the company after she raised questions about the company’s accounting practices and inappropriate conduct by its CEO Sam Gores. Debbee Klein, a former agent and partner at Paradigm who worked at the agency for more than 23 years, on […]
Social Security recipients will automatically receive stimulus payments
Treasury announced Wednesday that Social Security and Railroad Retirement benefit recipients will receive economic stimulus payments automatically without having to file a tax return. On Monday, the IRS had said that only taxpayers who had filed tax returns for 2018 or 2019 would receive their payments automatically. (See prior coverage here.) Many Social Security and […]
FASB Plans to Address Standard-Setting Issues During the Coronavirus
The FASB is monitoring and responding to the COVID-19 (coronavirus) pandemic situation and is committed to supporting and assisting its stakeholders during this difficult time. At its meeting on April 8, 2020, the FASB is expected to discuss plans to support stakeholders as they navigate the impact of the pandemic. Discussion will include: Responses to […]
Do You Need a Business Operating Agreement?
When you start a business, you’re in charge of juggling multiple tasks simultaneously. And if you establish a limited liability company (LLC), you may need to create a business operating agreement for your company. To familiarize yourself with all things operating agreements, keep reading. Business operating agreement So, what is an operating agreement? Glad you […]
FASB to discuss effective date deferral requests in response to pandemic
In response to the coronavirus pandemic, FASB will discuss at its April 8 meeting effective date deferral requests for significant accounting standards that are not yet effective. FASB said in a news release issued Wednesday evening that it shares global concerns about the impact of the coronavirus and is committed to supporting and assisting its […]
Coronavirus Triggers Special Session for Accounting Rulemaker – Bloomberg Tax
The U.S. accounting rulemaker plans to meet April 8 to discuss pressing accounting questions related to the new coronavirus pandemic. The Financial Accounting Standards Board didn’t mention the current expected credit losses (CECL) accounting standard by name in its announcement Monday evening. But the sudden intervention of Congress into the biggest change to bank accounting […]
Applications for small business Paycheck Protection Program open April 3
Small businesses and sole proprietorships affected by the coronavirus pandemic can apply for loans under the federal Paycheck Protection Program (PPP) beginning Friday. Starting April 10, independent contractors and self-employed individuals can apply. The application can be found here on the Treasury site, along with details for borrowers and lenders. Treasury urged those in need […]
Wolters Kluwer’s Continuing Audit Education Adds Value
The value of continuing audit education from the School of Audit During the first few months of each year our lives go on hold as we take care of our clients needs. As auditors, we understand that. However, if you think that your employees are too busy to care about continuing audit education, think again. […]
B Corp Certification: Your Complete Q&A
Many businesses may want to help build a better economy, society, and environment, but some make it a priority. If you own a business that prioritizes the common good, consider applying for B Corp certification. So, what are B Corp companies? Learn more about this relatively new certification to find out if it’s something you […]