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   NEWS: ACCOUNTING TODAY
Accounting Today
Jun 17, 2018

IMA releases Management Accounting Competency Framework at conference
The Institute of Management Accountants unveiled an exposure draft of its enhanced Management Accounting Competency Framework at the kickoff of its annual conference Sunday in Indianapolis.

Accounting Today
Jun 15, 2018

IRS plans to further delay foreign currency tax rules
The Internal Revenue Service and the Treasury Department have issued a notice saying they intend to amend the Section 987 regulations on foreign currency gains and losses, delaying the applicability date by one more year.

Accounting Today
Jun 15, 2018

Will the boom in consulting fees keep going for Big Four firms?
The good times continue to roll for management consultants, especially with tax reform.

Accounting Today
Jun 15, 2018

People & firms on the move: AICPA bestows awards at Edge Conference
Grant Thornton names first national managing principal of innovation; Postlethwaite & Netterville promotes three to director; and more personnel and CPA office news.

Accounting Today
Jun 15, 2018

EITF reaches consensus on accounting for cloud computing costs
The Financial Accounting Standards Board's Emerging Issues Task Force has reached a consensus on how to account for implementation costs in a cloud computing arrangement that's considered a service contract.

Accounting Today
Jun 15, 2018

Avalara IPO soars, some analysts say ‘overpriced'
Originally estimated at $180 million, the tax software company's initial public offering has brought in almost $285 million.

Accounting Today
Jun 15, 2018

A refined approach to inventory valuation
Limited guidance from the IRS and accounting standard-setting bodies has led to a divergence in interpretation and practice for inventory valuation within the scope of business combinations.

Accounting Today
Jun 15, 2018

Trump used charity as his checkbook, N.Y. says as it flags IRS
President Donald Trump's personal charity repeatedly and willfully broke state and federal laws by engaging in a decade-long pattern of self-dealing that culminated in illegal coordination with his political campaign, New York alleged in a scathing lawsuit.

Accounting Today
Jun 15, 2018

Rich looking to dodge property tax caps turn to Alaskan trusts
Jonathan Blattmachr, an estate planning lawyer, is such a fan of the strategy he's created to help some of his wealthy clients get around the new property tax deduction cap that he's using it himself.

Accounting Today
Jun 15, 2018

10 tech stories you may have missed: Excel gets smarter
An infusion of AI improves everyone's favorite spreadsheet software, harassment by emoji, and more.

Accounting Today
Jun 14, 2018

Accounting departments leverage technology to boost hiring
Accounting departments are finding that offering advanced technology like cloud computing is helping them attract staff, according to a new report.

Accounting Today
Jun 14, 2018

AICPA recommends items for IRS priority guidance plan
The American Institute of CPAs sent a list of more than 150 recommendations for the Internal Revenue Service to add to its Priority Guidance Plan where it would like to see the IRS provide more clarity, with a particular spotlight on the Tax Cuts and Jobs Act.

Accounting Today
Jun 14, 2018

New tactics for pervasive cybersecurity threats
IT expert Donny Shimamoto and firm owner Dan Moore shared some tried-and-tested approaches to keep client data secure at the AICPA Engage conference.

Accounting Today
Jun 14, 2018

EY looks at future of the tax and finance function
Ernst & Young has released a study on some trends it is seeing at companies around the world.

Accounting Today
Jun 14, 2018

Tax tips for small businesses
The NAEA offers advice to help owners deal with both reform and their perennial tax burden.

Accounting Today
Jun 14, 2018

H&R Block plans to close 400 tax prep offices
The tax prep chain foresees fewer customers coming in to have their returns prepared as a result of the new tax law.

Accounting Today
Jun 14, 2018

Cohn says trade disputes could wipe out tax cut benefits
President Trump's former top economic adviser said trade disputes could wipe out the benefits of the tax cuts Congress passed last year and may trigger an economic slowdown.

Accounting Today
Jun 14, 2018

Why you should know about Kornfeld v. Commissioner
The field of tax is usually not regarded as being an outlet for exceptional creativity.

Accounting Today
Jun 13, 2018

Dobek: Making the move to 21st century recruiting
Accounting firms need to do more than just post in job boards.

Accounting Today
Jun 13, 2018

In no small trick, Tony Hawk's accountant keeps him grounded
The pro skateboarder has defined his career by taking risks, and he championed a similar business strategy during his keynote address at the AICPA Engage conference in Las Vegas.

Accounting Today
Jun 13, 2018

Koziel: The profession needs to disrupt itself
Accountants must adapt to change before they're forced to, says the AICPA VP.

Accounting Today
Jun 13, 2018

CBIZ teams with Insight2Profit on practice management
CBIZ has partnered with a company called Insight2Profit, a business management consultancy based in its hometown of Cleveland, on using tools to help CBIZ's affiliated accounting firm, MHM, improve its performance.

Accounting Today
Jun 13, 2018

Ready or not, IFRS 9 is here for derivatives
The financial instruments standard requires a new kind of calculation that is proving disruptive to treasury and accounting.

Accounting Today
Jun 13, 2018

AICPA adds financial planning certificate program
The American Institute of CPAs introduced a Personal Financial Planning Certificates Program on Wednesday, giving accountants a new way to gain the AICPA's Personal Financial Specialist credential.

Accounting Today
Jun 13, 2018

AICPA releases educational resources on future of finance
The Go Beyond Disruption platform offers courses on human intelligence, data analytics, cybersecurity, blockchain and more.

Accounting Today
Jun 13, 2018

AuditFile creates integration with Confirmation.com
The integration allows auditors to automate and track bank confirmations for any of their engagements.

Accounting Today
Jun 13, 2018

PwC sanctioned by U.K. regulator for BHS audits
It's said auditors get off lightly when companies fail. Tell that to the PricewaterhouseCoopers partner who signed off on the accounts of failed British retailer BHS. He has just received a 325,000-pound ($434,000) fine and a record 15-year ban from audit work.

Accounting Today
Jun 13, 2018

Neat offers partner portal and multi-account access for firms
The provider of expense tracking and bookkeeping automation for small businesses has added features for partners at accounting and bookkeeping firms.

Accounting Today
Jun 13, 2018

H&R Block shares plunge as simpler tax code weighs on forecast
The tax prep chain is one company that's not happy with the Trump tax cuts.

Accounting Today
Jun 13, 2018

Amazon wins victory as Seattle repeals tax on big employers
Less than a month after unanimously passing a per-worker tax on large employers to fund homeless services and affordable housing, the City Council voted 7 to 2 to eliminate it.

Accounting Today
Jun 13, 2018

In the blogs: Free lunch
The TCJA and havens; making videos for clients; bias in IRS collections; and other highlights from our favorite tax bloggers.

Accounting Today
Jun 12, 2018

Building a NextGen firm
Client experience, tech, and talent are all key, according to Jennifer Wilson of ConvergenceCoaching.

Accounting Today
Jun 12, 2018

CPA.com and CaseWare debut client engagement software
OnPoint PCR provides a full-service solution for preparation, compilation and review.

Accounting Today
Jun 12, 2018

Philadelphia has the worst accounting, says city controller
The City of Brotherly Love ranked at the bottom of the top 10 biggest U.S. cities.

Accounting Today
Jun 12, 2018

Retailers and restaurants want fixes to new tax law
Trade groups representing the retail and restaurant industries are asking Congress to make several technical corrections to the Tax Cuts and Jobs Act, warning that some of the mistakes in the hastily drafted legislation could cost the industries millions of dollars.

Accounting Today
Jun 12, 2018

How to expand your accounting business by adding new services
One proven growth strategy is to offer more services to the same clients.

Accounting Today
Jun 12, 2018

FASB expected to issue nonprofit accounting guidance on grants
The Financial Accounting Standards Board is expected to release a long-awaited accounting standards update this month to clarify a key issue in the nonprofit world, standardizing how grants are classified, as either an exchange transaction or a contribution.

Accounting Today
Jun 12, 2018

Getting your clients ready for retirement
The first step may be getting them to figure out what retiring means to them, a panel of CPA financial planners says.

Accounting Today
Jun 12, 2018

Vindicia teams with Softrax on subscription revenue software
A provider of subscription management software has integrated with a developer of revenue management software to help subscription businesses comply with the new revenue recognition standard.

Accounting Today
Jun 12, 2018

Seattle poised to repeal tax on Amazon and large employers
Under pressure from businesses and homeowners, the Seattle City Council is poised to repeal a tax on large employers like Amazon.com Inc. less than a month after it passed the tax unanimously.

Accounting Today
Jun 12, 2018

A little-known IRS agent exposed the biggest scandal in sports
There are two types of soccer executives, according to 2011 testimony given by Chuck Blazer, then the highest-ranking American in international soccer: those who take bribes, and those who pay them.

Accounting Today
Jun 12, 2018

When is a debt worthless - and tax deductible?
The Tax Court rules that creditors must have hard evidence that an obligation is uncollectable before they deduct it.

Accounting Today
Jun 11, 2018

Art of Accounting: My clients get the ‘Ed Mendlowitz factor' gratis
When a client engages me for any type of service, there are specific descriptions of what we will do and the goal or end result of the services. What is not figured in is "the Ed Mendlowitz factor."

Accounting Today
Jun 11, 2018

DOPE CFO cannabis accounting business expands
A company that provides training to legal marijuana businesses and their bookkeepers has extended its reach to 26 states.

Accounting Today
Jun 11, 2018

COSO supplements ERM Framework with industry examples
The Committee of Sponsoring Organizations of the Treadway Commission has added to its widely used Enterprise Risk Management Framework.

Accounting Today
Jun 11, 2018

Deloitte is said to find Dubai's Abraaj commingled $95M
The Middle Eastern investment firm has been roiled by allegations of misused funds.

Accounting Today
Jun 11, 2018

Thomson Reuters offers tax reform toolkit
Thomson Reuters has introduced the Checkpoint Tax Cuts and Jobs Act Toolkit to help accounting firms advise clients about the new tax law.

Accounting Today
Jun 11, 2018

Puerto Rico tax deal gives federal board power over use of cash
The deal to steer some ofthe territory's future sales taxes to a key group of bondholders puts a U.S. oversight board in charge.

Accounting Today
Jun 11, 2018

Colleges get tax reprieve in push to value endowment assets
Private universities won't be taxed on unrealized income from their billions of dollars in assets before the levy was approved.

Accounting Today
Jun 11, 2018

Climbing the lease accounting compliance mountain
Now is the time to start preparing for the next big accounting standard.

Accounting Today
Jun 11, 2018

A strategy for strategic retreats
Getting partner meetings to yield results requires some extra attention, according to Dom Esposito.

Accounting Today
Jun 11, 2018

Inside the new rules on hosting services and attest clients
An amendment to the AICPA Code of Conduct requires CPAs to re-examine the nonattest services they offer.

Accounting Today
Jun 09, 2018

Accountants Confidence Index — June 2018
With tax season in the rearview mirror, the Accountants Confidence Index edged back up after two months of decline.

Accounting Today
Jun 08, 2018

IRS grants relief for Indiana weather victims
Affected taxpayers can get deadline extensions and penalty abatements.

Accounting Today
Jun 08, 2018

IRS plans regulations to ease taxes on college endowments
The Internal Revenue Service said Friday it plans to issue regulations may limit the impact of a new excise tax on the endowments of private colleges and universities under the new tax law.

Accounting Today
Jun 08, 2018

AICPA chair Eric Hansen will also chair global association
The BKD COO was named Friday to chair the Association of International Certified Professional Accountants.

Accounting Today
Jun 08, 2018

Benefiting from cost segregation in the new tax environment
Cost segregation treatment has been around for a long time, so why is it more relevant now than ever? The answer: bonus depreciation.

Accounting Today
Jun 08, 2018

IRS private debt collectors target low-income taxpayers
Private debt collection agencies that are collecting tax debts on behalf of the Internal Revenue Service have been forcing many taxpayers into payment plans they can't afford.

Accounting Today
Jun 08, 2018

Tori Spelling among California's top tax delinquents
The state recently released its most recent list of those who owe it the most.

Accounting Today
Jun 08, 2018

Clawback threat helps boost CFO performance and pay
A new study finds companies that have the ability to recoup compensation from managers generally try to protect the integrity of their accounting.

Accounting Today
Jun 08, 2018

Corporate tax cuts seen shifting paper profits, not factories
Corporate tax rates are falling around the world. Inequality expert Gabriel Zucman questions the conventional wisdom that they will goose investment and economic growth.

Accounting Today
Jun 08, 2018

AICPA chairman Eric Hansen will also chair Association
Eric Hansen, chairman of the American Institute of CPAs, was named Friday as chairman of the AICPA's global association, the Association of International Certified Professional Accountants, which the AICPA runs with the U.K.-based Chartered Institute of Management Accountants.

Accounting Today
Jun 08, 2018

People on the move: NJCPA elects its youngest president ever
BDO and Baker Tilly admit new partners; Weaver promotes four to partner-in-charge; and other recent hires, promotions and personnel news from firms across the country.

Accounting Today
Jun 08, 2018

Firms on the move: Rainmaker honors excellence in accountants
Freed Maxick celebrates 60 years; AICPA announces 2017 Elijah Watt Sells Award winners; and more news from CPA offices across the country.

Accounting Today
Jun 08, 2018

Fast-Tracking CAS: Cross-selling client accounting services within the firm
As companies seek new ways to grow in a competitive business environment, accounting firms can position themselves as much more than just the traditional provider of help with taxes or audits.

Accounting Today
Jun 08, 2018

Opportunity zones: An innovative investment vehicle created by the TCJA
The purpose of the new investment vehicle is to direct resources to low-income communities through a more market-driven approach.

Accounting Today
Jun 08, 2018

Sovos releases new cloud platform to support tax software
The tax automation software's new architecture connects regulatory and government systems with its own.

Accounting Today
Jun 08, 2018

Tax Fraud Blotter: Semi-gloss guilt
PEG nailed; taken for a ride; fifth Canadian fraud conviction; and other highlights of recent tax cases.

Accounting Today
Jun 07, 2018

NYC's Stringer wins GFOA financial reporting awards
The Government Finance Officers Association honored New York City Comptroller Scott Stringer for excellence in financial reporting.

Accounting Today
Jun 07, 2018

Lease accounting standard has technology hurdles
The lease accounting standard that public companies are gearing up to comply with by the end of the year is presenting them with some technology obstacles, according to a new report from Deloitte.

Accounting Today
Jun 07, 2018

The 2018 Billion-Dollar Planners
Accounting Today's list of CPA wealth management practices with over $1B in AUM.

Accounting Today
Jun 07, 2018

The contentious debit — seriously?
The accounting practices associated with share-based compensation have evolved from the ridiculous to the barely sensible.

Accounting Today
Jun 07, 2018

Accounting MOVE Project spotlights female leadership at firms
The annual survey on female leadership and diversity also included lists of the best firms for women and best firms forequity leadership.

Accounting Today
Jun 07, 2018

CAQ funds 4 auditing research projects
The Center for Audit Quality is supporting research into professional skepticism, critical audit matters, and more.

Accounting Today
Jun 07, 2018

Walmart sues its former head of tax for jumping to Amazon
Walmart Inc. sued its former chief tax officer for violating her employment contract by defecting to online rival Amazon Inc. to become one of its senior tax executives.

Accounting Today
Jun 06, 2018

Opportunity zones: An innovative investment vehicle created by the Tax Cuts and Jobs Act
The purpose of the new investment vehicle is to direct resources to low-income communities through a more market driven approach.

Accounting Today
Jun 06, 2018

Citrin Cooperman merges in Sharkansky
Citrin Cooperman, a Top 100 Firm based in New York, has extended its footprint in New England by adding Sharkansky LLP, a firm based in Brockton, Massachusetts, effective June 1.

Accounting Today
Jun 06, 2018

SafeSend and TaxCaddy integrate tax prep solutions
The systems will work together to streamline the 1040 assembly and delivery process.

Accounting Today
Jun 06, 2018

Avalara revs up bid for IPO
The tax automation company is set to raise $150 million during its initial public offering scheduled for June.

Accounting Today
Jun 06, 2018

Aprio to acquire HPC
The Top 100 Firm has signed an agreement to buy a cloud-based accounting practice that services its clients online.

Accounting Today
Jun 06, 2018

AICPA names 2017 Elijah Watt Sells Award winners
The Institute announced that 58 of the 95,000-plus students who sat for the 2017 CPA Exam had top scores.

Accounting Today
Jun 06, 2018

Xerocon showcases new tech, bank partnerships
Xero continues to focus on building AI and machine learning to help accountants become more valuable to their clients.

Accounting Today
Jun 06, 2018

The tax office of tomorrow
New technology, new regulations and new client demands combine to continually reshape the traditional tax practice. This special report examines the latest state of play, and looks ahead to changes on the horizon for the tax practitioner.

Accounting Today
Jun 06, 2018

Accountants to Watch: Jeremias Ramos
The head of The Daily CPA discusses his accounting publication "by millennials, for millennials."

Accounting Today
Jun 06, 2018

Tax reform boosts consulting revenue for accounting firms
The consulting practices of U.S.-based accounting firms—especially the Big Four—saw strong growth in revenue last year, in part due to last December's tax reform overhaul, according to a new report.

Accounting Today
Jun 05, 2018

In the blogs: Matters of reality
AMT question; voluntary use-tax; summer and taxes; and other highlights from our favorite tax bloggers.

Accounting Today
Jun 05, 2018

From number cruncher to personal CFO
Sadly, too many financial professionals assume it's the client's responsibility—not theirs—to be the orchestra leader who coordinates all the moving parts of their financial life.

Accounting Today
Jun 05, 2018

2018 Wealth Magnets: The Top 150 CPA Firms by AUM
Accounting Today's annual ranking of the leading CPA financial planners by assets under management.

Accounting Today
Jun 05, 2018

Expats object to U.S. taxes
A growing proportion of U.S.-born expatriates do not feel they should be required to file taxes while they live abroad and about one-fifth of them are considering renouncing their U.S. citizenship, according to a new survey.

Accounting Today
Jun 05, 2018

Companies still lagging on rev rec and leasing standards
Both public and private companies are still dragging their heels on implementing some of the new accounting standards, even with the effective date of adoption either already here or approaching soon.

Accounting Today
Jun 05, 2018

What they'd do differently: MPs share leadership lessons
Focusing immediately on culture, strategy and building a ‘one firm' model top the list.

Accounting Today
Jun 05, 2018

VSCPA honors 57 with 'Life Member' award
The Virginia Society of CPAs highlighted members who have been a part of the organization for at least 40 consecutive years.

Accounting Today
Jun 05, 2018

Tax clients and the riddle of cryptocurrencies
Pracitioners share their clients' need for education on Bitcoin and its ilk.

Accounting Today
Jun 05, 2018

Tax reform and the burden of excess cash
The Tax Cuts and Jobs Act has companies facing the unusual problem of what to do with their extra money.

Accounting Today
Jun 05, 2018

Sexual harassment victims could lose under tax law meant to help
Republicans are considering a fix to a provision in their new tax law that they acknowledge could inadvertently penalize victims.

Accounting Today
Jun 05, 2018

Zuora offers RevPro to automate revenue recognition
Zuora rolled out the Spring '18 product release of its Zuora Central Platform subscription management software.

Accounting Today
Jun 04, 2018

NJCPA names Sarah Krom as youngest ever president
Her election comes at a time when the accounting profession is striving to increase the pool of young people and the percentage of women leaders.

Accounting Today
Jun 04, 2018

IRS provides penalty and filing relief on transition tax
The agency is waiving some of the late-payment penalties pertaining to the section 965 transition tax on foreign earnings in the new tax law.

Accounting Today
Jun 04, 2018

Art of Accounting: More on buying a practice from an estate
A lot can go wrong when acquiring a practice from a deceased accountant's estate. Here are some real-life examples.

Accounting Today
Jun 04, 2018

AICPA looks to fund assurance research
The American Institute of CPAs is offering to provide up to $15,000 to researchers.

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