Jody Padar, the Radical CPA, has become the vice president of strategy at Botkeeper and is the co-author of “Botkeeper for Dummies.” What exactly are bots and Botkeeper, and why is this of any interest to accountants? Botkeeper is a company name based on a nickname for autonomous software programs and the ending of the […]

President-elect Joe Biden has pledged to repeal President Donald Trump‘s tax cuts as soon as he is inaugurated, but the ongoing financial crisis and the prospect of a Republican-controlled Senate could waylay that proposal for the foreseeable future. Biden will likely soon send a deficit-financed economic recovery bill to Congress, delaying any progress on a […]

ANGOLA — After 23 years of providing personalized accounting and tax services, Jody Porter and her husband Jeff have made the decision to retire from In Balance Accounting. The Porters are leaving their business to husband and wife team and certified public accountants Dwayne and Michele Bottoms who have backgrounds in accounting, finance, systems development, […]

Businesses and not-for-profits that received $2 million or more in Paycheck Protection Program (PPP) loans must complete one of two new loan necessity questionnaires being sent to lenders by the U.S. Small Business Administration (SBA) for distribution to borrowers. The new forms are designed to collect supplemental information SBA loan reviewers will use in evaluating […]

Employment increased by 638,000 jobs in October, including 1,400 in accounting and bookkeeping, the U.S. Bureau of Labor Statistics reported Friday, and unemployment declined 1 percentage point to 6.9 percent as the economy continues a slow recovery despite the ongoing COVID-19 pandemic. Job gains mostly occurred in the leisure and hospitality, professional and business services, […]

Traditional accounting methods do not fully capture the externalized costs of economic activities in the food and agricultural space, and this shortcoming is becoming more apparent because climate change is intensifying the focus on sustainable development. Against this backdrop, some industry officials think that true-cost accounting for food offers a better way forward. True-cost accounting […]

The Federal Accounting Standards Advisory Board (FASAB) and the Accounting and Auditing Policy Committee (AAPC) have proposed implementation guidance for federal-entity accounting standards and amendments to leases-related topics. The AAPC, a permanent committee established and overseen by FASAB, proposed a Federal Financial Accounting Technical Release, Implementation Guidance for Leases. FASAB, meanwhile, is proposing a Statement […]

The Federal Accounting Standards Advisory Board (FASAB) and the Accounting and Auditing Policy Committee (AAPC) have proposed implementation guidance for federal-entity accounting standards and amendments to leases-related topics. The AAPC, a permanent committee established and overseen by FASAB, proposed a Federal Financial Accounting Technical Release, Implementation Guidance for Leases. FASAB, meanwhile, is proposing a Statement […]

FASB issued a standard Thursday that provides relief for insurance companies implementing the board’s new standard for accounting for long-duration insurance contracts. The board provided insurance companies adversely affected by the coronavirus pandemic an additional year to implement Accounting Standards Update (ASU) No. 2018-12, Financial Services — Insurance (Topic 944): Targeted Improvements to the Accounting […]