Do you have freelancers or contractors working for you? Is your labor force full of short-term contracts? You might be working in a gig economy with gig workers. If so, you need to know the laws for hiring gig workers. Keep reading to learn more about the gig economy. What is a gig economy, and […]
John Woodcock Jr., partner in a Philadelphia accounting firm, dies at 86 – The Philadelphia Inquirer
John Woodcock Jr., 86, an accountant and devoted family man, died Wednesday, June 9, of Parkinson’s disease at White Horse Village, a retirement community in Newtown Square. Mr. Woodcock and his brothers Jim, Bill, and Ron were the children of immigrants — John Woodcock Sr. was from Ireland and Isabella Kerr Woodcock was from Scotland […]
FASB proposes discount rate relief for nonpublic lessees
FASB proposed changes Wednesday to discount rate guidance for lessees that are nonpublic business entities, with an objective of reducing the costs of implementing the board’s new lease accounting guidance. Private companies, not-for-profits, and employee benefit plans would be among the lessees that could adopt the guidance in the proposed Accounting Standards Update. The proposal […]
Maine’s largest accounting firm names first female CEO – Mainebiz
Portland-based accounting firm BerryDunn on Wednesday announced that Sarah L. Belliveau will succeed John Chandler as CEO and managing principal. She is due to take the reins starting on July 1, becoming the first woman and fourth person overall to lead the firm, a spokesperson told Mainebiz. Belliveau, who currently leads BerryDunn’s not-for-profit practice, was selected after a […]
15 Personal Finance Tips for your First Job
Its June and most of the recruits from the campus would have joined or going to join in few months on their first job. Its a moment to rejoice and for many a first time experience of earning money. But Net-worth of a person is not by what he earns but by what he saves and […]
Eliminating TDR Accounting: Finally a Carrot for Adopting CECL? | ABA Banking Journal – ABA Banking Journal
By Josh Stein ABA’s position that troubled debt restructurings are outdated and unnecessary is gaining steam, demonstrated by the recent roundtable on current expected credit losses held by the Federal Accounting Standards Board last month. During the roundtable, FASB introduced an alternative to eliminate TDR accounting for banks that have adopted CECL. As expected, there […]
Crypto Accounting Is Changing – How Proof Of Reserves Could Improve Crypto Reporting – Forbes
How can crypto custodians, crypto trading exchanges, and (ultimately) crypto banking institutions prove to external parties that reserves are indeed what they say they are? This is a pivotal question that continues to come to the surface, with a potential solution recently put forward; Proof of Reserves (PoR). Getty Getty Images In order for any […]
AICPA, NASBA launch CPA Evolution Model Curriculum
The AICPA and the National Association of State Boards of Accountancy (NASBA) on Tuesday launched the CPA Evolution Model Curriculum (CPAEMC), a recommended blueprint for an accounting program designed to help educators prepare graduates for the changing demands of the CPA profession. The CPAEMC outlines suggested courses colleges and universities can offer to align their […]
Debt-to-equity Ratio: How the Math Works for Your Business
Sometimes, debt is a necessary evil when running a business. Taking on debt may be your best option when you don’t have enough equity to operate. But, how much debt is too much debt? And, when does debt become “bad”? The accounting debt-to-equity ratio can help you determine how much is too much and draws […]
Top tax cases practitioners should know
Pinning down whether an activity is a trade or business for tax purposes, whether a tax penalty should be waived for reasonable cause, or the eternal question of when income is recognized for tax purposes — these issues arise often, and CPAs can benefit from being familiar with the judicial doctrines governing them. That’s the […]