(Bloomberg) — On the surface, the situations are shockingly similar. Two Mexican non-bank lenders, within days of each other, report inconsistencies in their loan books that required them to amend their financials. Yet the reaction of bond investors could hardly be more different. Securities issued by Alpha Holding — known as AlphaCredit — plunged instantaneously […]
Art of Accounting: A guide to client accounting services – Accounting Today
This column is a review of an exciting new book, “The Definitive Success Guide to Client Accounting Services (CAS),” by Hitendra Patil. I remember calling Hitendra a few years ago about an article he wrote about CAS to ask him what CAS stood for. Today CAS is an essential service that can only grow much […]
3 ways to defeat imposter syndrome — and build executive presence
Many workers — including accountants — at times doubt their abilities. Even after years of training, people can “feel like a fraud” in the workplace. These are the characteristics of what has been termed “imposter syndrome” or “imposter phenomenon” — the term first used in 1978 by Atlanta-based psychologists Pauline Rose Clance, Ph.D., and Suzanne […]
Accounting professor receives Northwestern Teaching Excellence Award – Northwestern College
Vonda Post, professor of accounting at Northwestern College, has been named the 2021 recipient of the Northwestern Teaching Excellence Award. She was honored during the college’s commencement ceremony on May 8. The award is administered by a selection committee made up of Student Government Association members and Honors Program students. The committee chose Ross Bouma, […]
Employers added 266K jobs in April, including 4,100 in accounting – Accounting Today
Employers added 266,000 jobs in April, including 4,100 jobs in accounting and bookkeeping services, the U.S. Bureau of Labor Statistics reported Friday, but the unemployment rate nonetheless ticked up one-tenth of a percentage point to 6.1 percent. The main job gains came in the leisure and hospitality sector, other services, and local government education, but […]
Get Organized (and Paid) With These Invoice Tracking Tips
How many times have you sent out an invoice to a customer and lost track of it while waiting for payment? If it’s happened more than once, it might be time to step up your invoice tracking skills. Invoice tracking is key to sending out payment reminders, adding late fees, and—most importantly—getting paid. …But first, […]
AICPA seeks exemption for CPA firms from expected beneficial ownership registry
The AICPA is requesting that all licensed or registered CPA firms be exempted from forthcoming rules that require beneficial ownership information to be reported by small businesses to the Financial Crimes Enforcement Network (FinCEN). In a comment letter to FinCEN, the AICPA says FinCEN should provide CPA firms with a blanket exemption to the requirement […]
Tossing Your Business Bank Statements in the Trash? Get to Know Them Instead
If you have a business bank account, you should regularly receive a paper or electronic statement. These business bank statements provide valuable information for managing your business finances. So if you’re tossing your unopened business bank account statements in a drawer or—worse—the trash, this one’s for you. Read on to learn what is a bank […]
SBA unveils initial Restaurant Revitalization Fund results
More than 186,000 restaurants, bars, and other food and beverage businesses applied for assistance from the $28.6 billion Restaurant Revitalization Fund (RRF) during the first two days after the program’s application window opened May 3. The U.S. Small Business Administration (SBA), which operates the RRF, reported that it received: 186,200 applications from restaurants, bars, and […]
Single audit: Pandemic aid and major program determinations
Despite the existence of new coronavirus relief money from the HIV Emergency Project Grants and CRF programs, according to the guidance in the 2020 Office of Management and Budget (OMB) Compliance Supplement and related Addendum, the determination of major programs does not change for the single audit of this client. “A lot of auditors think, […]