The Financial Accounting Standards Board voted to add a project to its technical agenda on accounting for financial instruments with environmental, social and governance-linked features and regulatory credits. During a meeting last Wednesday, FASB discussed the research its staff had done on items to add to its agenda after a
In the legal realm, traditional eDiscovery solutions have become popular to aid in uncovering key relationships and activities through documents, emails and social media activity, but to date the accounting profession lacks a parallel. Not to mention even these legal eDiscovery solutions don’t truly “follow the money” — but rather
Last week I read that a Black accountant was appointed as managing partner of a Top 50 CPA firm, and another was chosen as chairperson of the AICPA Private Companies Practice Section executive committee. At that same time, I read a firm’s announcement of a new group of summer interns
Roman Kepczyk, director of firm technology strategy for Right Networks, is very excited about the new ways businesses are leveraging bots and other tools typically associated with artificial intelligence, but with the caveat that these programs are only as smart as the people who make them. Today, even small businesses
The competition to attract top talent for accounting firms is fierce. With fewer people going into financial service industries — and the Great Resignation showing no signs of slowing down — accounting firms must use all available resources to attract top candidates. In response, senior executives are asking their marketing
As shown in a new case decided by a court of appeals, Aspro, Inc. v. CIR, No. 21-1996, CA-8, 4/26/22, a C corporation can’t disguise dividends as compensation or some other form of deductible payment to its shareholders. Background: In some instances, C corporations prefer to designate payments as amounts for
Baker Tilly has named golfer Cameron Smith its new brand ambassador; RSM launched its Family Office Institute; a new Examinations director at the Securities and Exchange Commission; and other firm and personnel news from across the accounting profession.
The Great Resignation, COVID-19 pandemic and economic uncertainty are transforming the marketplace and forcing companies to continue to adapt. Among these changes is the shifting relationship between employers and employees, who are now expecting much more when it comes to flexibility, career pathing, total rewards, and corporate culture. Adding to
End of some long roads; just can’t quit; what a pain; and other highlights of recent tax cases. Houston: Exec Alejandro Joael Colbert has pleaded guilty to failing to account for and to pay over withholdings of federal income and FICA taxes from the wages of his employees. Colbert was
Over the past four years, practice management software company Karbon has polled 1,000 accounting practices to compile its Practice Excellence Assessment and Scorecard, and the findings are worth noting. Looking at 12 different dimensions of practice (see below), Karbon examined the underlying patterns to construct a framework that distils all
