Previously, GEMRT’s leaders were members of two small firms that started to think about the best way to move forward. Each firm recognized that as accounting firms evolve into multidisciplinary consulting practices with strong technology components, the need to scale the practice became a stronger pull. Yet in contemplating a merger, they saw that finding […]
Diversity and inclusion: Tips for moving the needle
Kimberly Ellison-Taylor, CPA, CGMA, believes it’s time for the accounting profession to build on its focus on creating ethnic diversity and making an earnest effort to promote inclusion. Ellison-Taylor, the vice chair of the AICPA National Commission on Diversity and Inclusion, said the accounting profession through its recruiting processes has improved in attracting diverse people […]
FASB proposes 3 targeted lease accounting changes
FASB issued a proposal Tuesday that is designed to improve three targeted areas of its lease accounting guidance. The proposed amendments are designed to represent FASB’s commitment to take timely action based on what the board learns during its post-implementation review process of major standards, FASB Chair Richard Jones said in a statement. “In this […]
FASB proposes 3 targeted lease accounting changes – Journal of Accountancy
FASB issued a proposal Tuesday that is designed to improve three targeted areas of its lease accounting guidance. The proposed amendments are designed to represent FASB’s commitment to take timely action based on what the board learns during its post-implementation review process of major standards, FASB Chair Richard Jones said in a statement. “In this […]
Turn up the Holiday Cheer With a Company Shutdown This Year (Plus Save on Overhead)
What does a holiday company shutdown have to do with lower overhead and COVID-19? Turns out, a lot. Major corporations like Best Buy, Target, and Walmart have already announced store closures for Thanksgiving 2020 due to the pandemic. Find out what exactly is a holiday shutdown, weigh the pros and cons, and—if interested—learn how to […]
Accounting Firm Services Market to Eyewitness Massive Growth by 2025 : Accountingprose, Bench Accounting, Dixon Hughes Goodman, PwC – Insurance News Net
ReleaseWire Edison, NJ — (SBWIRE) — 10/19/2020 — This intelligence report provides a comprehensive analysis of the Global Accounting Firm Services Market. This includes Investigation of past progress, ongoing market scenarios, and future prospects. Data True to market on the products, strategies and market share of leading companies of this particular market are mentioned. It’s […]
Unclaimed property distributions allowed as self-certified rollovers
In response to requests from stakeholders, the IRS issued guidance adding state unclaimed property fund distributions to the list of reasons that taxpayers may self-certify that they missed the 60-day deadline to roll over funds to a qualified retirement plan (Rev. Proc. 2020-46). It also added a requirement to report and withhold from these distributions. […]
Accounting Student Sets Sights on Fraud – The Immaculatan
One of Olive Monye’s personal heroes is Ngozi Okonjo-Iweala, former finance minister of Nigeria. “I was incredibly proud of her, because we both come from the same state in Nigeria,” Olive said. “Northerners and westerners usually have the upper hand when it comes to political appointments in the country. It gave me a great sense of joy to see a southern woman like myself attain such […]
FBAR deadline extended to Oct. 31 after confusion
After a misworded posting caused confusion about the 2020 deadline to file FBARs (i.e., FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR)), Treasury’s Financial Crimes Enforcement Network (FinCEN) has extended the deadline to Oct. 31. Last Wednesday, FinCEN posted a notice to its website saying that this year’s deadline to e-file calendar […]
Tax Accounting in 2020: Changes and Developments for Current and Future Planning Webinar – Bangor Daily News
Many companies of all sizes and types face constant and increasing scrutiny from stakeholders over their income tax accounting policies and procedures. This scrutiny may only grow in strength as a result of the tumultuous and complex tax and regulatory year we’ve seen in 2020. More than ever, business owners and leadership are looking for […]