Mental accounting is a concept that describes the mental processes we employ to organise our resource use. Human beings tend to create separate mental budget compartments where specific acts of consumption and payments are linked. This mechanism can be counter-productive when it comes to energy consumption and can have a negative impact on attempts to […]
Accounting and financial controllers steer the ship – Accounting Today
Accounting and financial controllers are some of the hardest-working executives in an organization, but unfortunately they are often overlooked. There are more than 250,000 controllers in the United States, and 810,000 worldwide, yet CFOs and the C suite seem to get all the media attention. Around the world, companies and organizations turn to their controllers […]
Accounting and financial controllers steer the ship – Accounting Today
Accounting and financial controllers are some of the hardest-working executives in an organization, but unfortunately they are often overlooked. There are more than 250,000 controllers in the United States, and 810,000 worldwide, yet CFOs and the C suite seem to get all the media attention. Around the world, companies and organizations turn to their controllers […]
What Is Gross Receipts Tax, and Which States Impose It?
Depending on your business’s location, you may need to pay or remit certain state-specific taxes. One type of state tax your business should be aware of is gross receipts tax (GRT). Read on to learn about gross receipts tax and whether or not you’re responsible for remitting it to your state. What is a gross […]
Several states provide one-month filing relief for corporate deadlines
The global COVID-19 pandemic has affected many tax practitioners and taxpayers, and some fear that they will not be able to meet the Oct. 15 tax filing deadlines for federal and many state returns. Thanks to the efforts of many state CPA societies and the Council On State Taxation (COST), many states have provided one […]
Art of Accounting: Added services by accounting firms – Accounting Today
Every accounting firm website I look at shows a full range of services, all with great descriptions. I also read many announcements of added services with impressive descriptions. This got me thinking about the followthrough by many of these firms. I’ve been there. Before our firm merged with Withum, we promoted an imposing array of […]
Audit committee cybersecurity disclosures rising in proxy statements
Public company audit committees continue to increase the level of their disclosures around cybersecurity in proxy statements, according to a yearly analysis performed by Audit Analytics in cooperation with the Center for Audit Quality (CAQ). The biggest increase in audit committee disclosures involved cybersecurity, according to the 2020 Audit Committee Transparency Barometer report published Monday […]
PPP forgiveness simplified for loans of $50,000 or less
Recipients of Paycheck Protection Program (PPP) loans of $50,000 or less will be able to apply for forgiveness using a simplified application that was released Thursday by Treasury and the U.S. Small Business Administration (SBA). A new interim final rule (IFR) provides new guidance concerning forgiveness and loan review processes for PPP loans of $50,000 […]
SEC Comment Letters Reveal Lease Accounting Challenges – FEI Daily
©ablokhin/iStock/Getty Images Plus A new report from compliance management and analytics provider Intelligize reviews Securities and Exchange Commission (SEC) comment letters and replies related to the Financial Accounting Standards Board’s (FASB’s) ASC 842 lease accounting standard, and it confirms that FASB and the SEC have shown considerable patience in enforcing the new rule, which requires […]
SEC Comment Letters Reveal Lease Accounting Challenges – FEI Daily
©ablokhin/iStock/Getty Images Plus A new report from compliance management and analytics provider Intelligize reviews Securities and Exchange Commission (SEC) comment letters and replies related to the Financial Accounting Standards Board’s (FASB’s) ASC 842 lease accounting standard, and it confirms that FASB and the SEC have shown considerable patience in enforcing the new rule, which requires […]