Accounting

H&R Block’s financial technology innovation arm, Wave, is adding new accounts receivable features to its small business bookkeeping software. In July, Wave plans to add new AR management features, including an invoice list view for identifying customers with unpaid invoices. A new customer list view will let users see how much any customer owes, without
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The anxiety experienced by many state and local governments at the start of the pandemic in March 2020 has eased. “When the economy shut down last year, a lot of localities panicked,” observed Mike Bernard, chief tax officer for transaction tax at Vertex. “ In most instances, transaction tax represents close to one-third of the
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I believe staff should have well-rounded experience for their first three or four years and then should look for an area to specialize in. Today, many staffers start out in a single area and that is where they remain. While this provides them with tremendous opportunities to acquire a strong depth of knowledge within that
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I admit, I love watching “Tidying Up with Marie Kondo” on Netflix. I bring this up because summer is the best time to work on big projects and planning initiatives. Client demands are lower and your team should be recharged from recent vacations and less round the clock stress. Marie Kondo, (aka “Konmari”), is a
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The New Jersey Society of CPAs announced the recipients of its 2021 Ovation Awards to honor those who have made “significant contributions in advancing the accounting profession.” Forty-one NJCPA members were chosen in all, with categories including a Lifetime Leader Award; Diversity, Equity & Inclusion; Exceptional Educators; Emerging Leaders; Impact; Innovation; and Woman to Watch.
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The Securities and Exchange Commission is reportedly probing William Duhnke, the recently fired chair of the Public Company Accounting Oversight Board. The Wall Street Journal reported Thursday that the SEC is investigating whether Duhnke violated any rules relating to the handling of internal complaints at the PCAOB. Duhnke was abruptly removed earlier this month by
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The White House reiterated President Joe Biden’s opposition to indexing the gasoline tax to inflation to help pay for an infrastructure plan, raising new questions about the viability of a bipartisan compromise emerging in the Senate. “After the extraordinarily hard times that ordinary Americans endured in 2020 — job losses, shrinking incomes, squeezed budgets —
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The Biden administration’s proposal to impose a global minimum tax on corporations has been facing pushback in Congress, with Republicans pushing user fees instead to pay for infrastructure improvements. A bipartisan group of senators has proposed indexing the gas tax for inflation as a way to pay for an infrastructure plan, but the White House
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Sarah Richmond Sarah Richmond was hired as a director in the audit and assurance services group at Katz, Sapper & Miller, Fort Wayne. Courtney Kincaid was promoted to president and CEO of the Indiana CPA Society, becoming the sixth CEO in INCPAS history and succeeding Jennifer Briggs. Kincaid joined the organization in 2006 and has
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Many companies have been working to interpret the Securities and Exchange Commission’s (SEC) statement since its release in early April regarding the classification and accounting for warrants utilized by special purpose acquisition companies (SPACs). This is for good reason. The “Replacement of Securities upon Reorganization, etc.” section in many SPAC warrant agreements contains a seemingly
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The Financial Accounting Standards Board released a proposed accounting standards update Wednesday with the goal of improving the discount rate guidance for lessees that are not public businesses, such as private companies, not-for-profits and employee benefit plans. The proposed update aims to reduce the expected cost of implementing the leases standard for entities while retaining
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PricewaterhouseCoopers LLP is investing $12 billion across its global business in an overhaul targeting better audits, digitization of services and greener operations. The professional-services provider will hire 100,000 employees and develop the skills of existing staff over the next five years as it seeks to respond to the post-pandemic operating environment, it said in an
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Implications of a big leak; taxing multinationals; better current than new clients; and other highlights from our favorite tax bloggers. Money troubles The Tax Times (https://www.thetaxtimes.com): A look at recent reports that private wealth clients, hedge fund managers, cryptocurrency traders and other well-heeled heels are skipping out to Puerto Rico for its tax breaks and
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The Institute of Management Accountants is objecting to the possible elimination of management accounting from the future courses required for students pursuing a career in accounting. The American Institute of CPAs and the National Association of State Boards of Accountancy are set to unveil the model accounting curriculum they have developed for their CPA Evolution
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LemonEdge raises $2.5M to build accounting software for firms LemonEdge, formerly LemonTree Software, has secured $2.5 million in an oversubscribed funding round. LemonEdge makes software to help firms in the private equity and financial services industries — especially those still running on legacy systems — digitize their complex accounting. LemonEdge’s low-code platform is customizable and
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The Internal Revenue Service is providing information about the child and dependent care credit and the paid sick and family leave credit, which were expanded under the American Rescue Plan. The IRS posted two separate sets of frequently-asked-questions Friday to help families and small and mid-sized employers in claiming the tax credits under the Biden
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