NEW YORK, June 7, 2021 /PRNewswire/ — The preeminent New York accounting firm Vault Accounting is shaking things up in the accounting world, providing tailored accounting, bookkeeping, and tax services to companies that need them all over the United States. “Most accountants who only see their clients once a year before tax season are most likely […]
What is a global minimum tax and what will it mean?
Finance Ministers from the Group of Seven (G7) rich nations reached a landmark accord on Saturday backing the creation of a global minimum corporate tax rate of at least 15%, an agreement that could then form the basis of a worldwide deal. Such a deal aims to end what U.S. Treasury Secretary Janet Yellen has […]
U.S. SEC ousts head of accounting watchdog, puts rest of board on notice – Reuters
The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly The U.S. Securities and Exchange Commission (SEC) on Friday said it had removed the head of the oversight board that sets standards for audits of public companies and planned to replace […]
Duhnke removed as PCAOB chair as transition to new board begins
The SEC removed PCAOB Chair William Duhnke III from his position on the board Friday as the SEC begins a transition that is expected to result in additional turnover for the board. Duane DesParte, a CPA who was sworn in as a board member in April 2018, was named acting chair, and the SEC announced […]
SBA reports first 50 Shuttered Venue Operator Grants
Shuttered Venue Operator Grants totaling $54.2 million had been awarded to 50 recipients through midday Thursday, the U.S. Small Business Administration (SBA) reported. The awards are the first to be announced for the SVOG program, and they come more than five months after the program was created by the Economic Aid to Hard-Hit Small Businesses, […]
Getting New Equipment? You’ll Need to Make a Purchase of Equipment Journal Entry
You probably depend on equipment to run your business. Computers, cars, and copy machines are just some of the must-have company assets you use. When it’s time to buy new equipment, know how to account for it in your books with a purchase of equipment journal entry. Accounting for assets, like equipment, is relatively easy […]
MIP Fund Accounting Receives 2021 TrustRadius Top Rated Awards – El Paso Inc.
AUSTIN, Texas, June 4, 2021 /PRNewswire/ — MIP Fund Accounting, the leading accounting software for nonprofits, educational programs, health and community services and government organizations, today announced it has been recognized by the 2021 TrustRadius Awards as a Top Rated product in the Excellence in Accounts Payable/Accounts Receivable and Expense Management categories. “MIP Fund Accounting, […]
What Is Franchise Tax, and Does Your Business Need to Pay It?
As a business owner, there are a ton of taxes you need to keep on your radar. One tax you may need to pay to your state is franchise tax. But, what is franchise tax? Get the scoop about this type of tax and whether or not your business is responsible for it. What is […]
GASB publishes implementation guidance on various issues
Application guidance on GASB’s state and local government accounting standards for derivative instruments, fiduciary activities, leases, and nonexchange transactions is included in a new implementation guide the board issued Wednesday. The guide also includes amendments to previously issued implementation guidance on the financial reporting model, sales and pledges, and intra-entity transfers. GASB periodically issues new […]
GASB addresses accounting changes and error corrections – Journal of Accountancy
GASB proposed changes Tuesday to its accounting and financial reporting guidance for accounting changes and error corrections that has been in effect for more than 40 years. The current requirements for state and local government financial reporting on accounting changes and error corrections were established in the 1970s before being codified in 2010 in GASB […]