India Grid Trust, a power sector InvIT (Infrastructure Investment Trusts) registered with SEBI since 2016 has come out with public issue of non-convertible debentures (NCD) – India Grid Trust NCD offering up to 8.20% interest rate and opens for subscription from April 28, 2021. India Grid Trust NCD – Significant Points: Offer Period: April 28 […]
SBA delays SVOG reopening to Monday
The U.S. Small Business Administration, citing negative feedback to previously announced plans to reopen the Shuttered Venue Operators Grant (SVOG) application portal on Saturday, announced Friday night that it was rescheduling the reopening for Monday at noon EDT. “We heard you and we are taking action,” the SBA said in an emailed statement. “It […]
How a church can prevent fraud without compromising its values
A number of years ago, a concerned church reached out to its CPA firm. It had been growing and enjoying strong giving, but it was suddenly experiencing an unexplained cash flow crunch. The CPA firm conducted a forensic examination and found that the church’s bookkeeper had embezzled more than $2.1 million over a seven-year period. […]
It’s Tax Season—Time to Enter a Journal Entry for Income Tax Refund
Taxes are a big part of running a business, and they can take a toll on your bank account. But sometimes, you can receive an income tax refund for your business. If you do, you need to know how to record a journal entry for income tax refund in your books. Should your business make […]
IPSASB proposes changes in public sector accounting – Accounting Today
The International Public Sector Accounting Standards Board released four proposals Thursday for improving various aspects of government accounting around the world. The exposure draft documents deal with changes in the measurement of assets and liabilities in financial statements; measurement; property, plant and equipment; and non-current assets held for sale and discontinued operations. The IPSASB, which […]
Expenses paid with 2020 PPP loans can be deducted on 2021 tax returns
The IRS announced a safe harbor for certain businesses that received first-round Paycheck Protection Program (PPP) loans but did not deduct any of the original eligible expenses because they relied on guidance issued before the enactment of the Consolidated Appropriations Act, 2021 (CAA), P.L. 116-260, in December 2020. In Notice 2020-32 and Rev. Rul. 2020-27 […]
Technology’s growing impact on accounting – Accounting Today
Technology and accounting are two of my favorite things. Both have changed dramatically in recent years, but nothing has changed the profession quite like the cloud, automation and all its related technologies. We do have COVID-19 to partially thank for the rapid industry-wide adoption of cloud technology, but there’s so much more to it than […]
GrowthForce™ Launches Guide To Outsourcing For Bookkeeping and Accounting – El Paso Inc.
KINGWOOD, Texas, April 22, 2021 /PRNewswire/ — Today, GrowthForce™ — a leading accounting advisory services provider of advanced bookkeeping, management accounting, controller and CFO support services — announced the launch of its “Guide to Outsourcing Your Back Office: Bookkeeping and Accounting.” The guide offers advice for business leaders about how to run their business smarter […]
Your Crash Course on the Different Types of 1099 Forms
You’re probably familiar with Forms 1099-MISC and 1099-NEC. But, how much do you know about the other types of 1099 forms? When it comes to the different types of 1099 forms, there isn’t a short supply. How many types of 1099 forms are there, you ask? With over 15 types, keeping track of what you […]
Can accounting firms mandate vaccines? – Journal of Accountancy
With the rollout of COVID-19 vaccines, public accounting firms and other employers are watching and waiting, determining how far they can go in encouraging staff to be vaccinated. RubinBrown LLP, a large public accounting firm with offices in six U.S. cities, has taken a path typical of professional service organizations: It is providing support and […]