A conversation that all accounting firms and departments need to have, especially during times of viral epidemics and other public health crises, is how to keep the business running efficiently during these times. By now you and your colleagues are likely staying away from the office and working from home. If that’s not already your […]
GASB Plans Postponement of Effective Dates
In view of the disruption caused by the COVID-19 pandemic, the Governmental Accounting Standards Board (GASB) has announced that it has added a project to its current technical agenda to consider postponing all Statement and Implementation Guide provisions with an effective date that begins on or after reporting periods beginning after June 15, 2018. Closure […]
What Accounting Skills Will You Learn in an MSA Program? | NEC MSA – NEC News & Events
Alerts Please click here for the latest news about how NEC is managing the coronavirus outbreak Earning a Master of Science in Accounting degree sets you apart from many others in the field, giving your career a competitive advantage. Here’s why: An MSA is the best preparation for obtaining a CPA license or CME license. […]
AICPA requests broader relief for taxpayers
The AICPA on Thursday urged Treasury and the IRS to provide broader tax filing and payment relief for taxpayers affected by the ongoing COVID-19 pandemic. In a letter to Treasury Assistant Secretary for Tax Policy David J. Kautter and IRS Commissioner Charles Rettig from Christopher Hesse, CPA, chair of the AICPA Tax Executive Committee, the […]
CARES Act would delay compliance with FASB credit loss standard
The federal economic stimulus bill designed to offer some relief amid the coronavirus epidemic includes a delay in the date by which financial institutions are required to comply with FASB’s new accounting standard for credit losses. The Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748, states that no depository institution, bank holding company, […]
Wolters Kluwer Offers Complimentary Webinars to Help Tax & Accounting Professionals Navigate Current Market Conditions
Online webinars help firms and their clients Wolters Kluwer Tax & Accounting today announced the launch of a series of complimentary webinars for tax and accounting professionals, during which Wolters Kluwer experts and guest speakers will offer insights and best-practices to help these professionals and their firms adapt to the current market landscape. In addition, […]
Tips for Engagement Audit Teams Navigating Effects of COVID-19
Effective audit teams Working from home presents some new challenges for effective audit teams. Thankfully, CCH® ProSystem fx® Engagement was designed for working from anywhere and creating effective audit teams! Keep readying to learn how. Local file room First, work from the user’s local file room. Now, depending on how you configured Engagement, the Central […]
Closing a Business Checklist: 8 Steps for a Smooth Transition
The time may come when you want to shut down your business to retire, open a new venture, or start a new career path. Regardless of your reason, the process for closing a business is different than selling it. Although it can be overwhelming, you can de-stress with our closing a business checklist. There are […]
CARES Act tax provisions aim to stabilize pandemic-ravaged economy
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748, currently being debated in the Senate and expected to be voted on Wednesday night, contains a host of tax measures as part of a $2 trillion aid package designed to help the economy as it suffers from the effects of the coronavirus pandemic. While […]
New Accounting Rules Are Giving Banks a Coronavirus Headache – The Wall Street Journal
Some of the rules introduced to protect banks after the 2008 financial crisis are aging better than others in the 2020 one. European regulators are working furiously with the region’s banks to keep its financial system ticking over as Western economies are hit by the coronavirus shutdown. Many of the regulations forged in the meltdown […]