Many companies and accounting firms have been focusing on new standards on revenue recognition and accounting for leases, hedging, and credit losses. But another new FASB standard — on cloud computing costs associated with a service arrangement — became effective for public business entities in fiscal years beginning on or after Dec. 15, 2019, and will take effect for all other entities for reporting periods beginning after Dec. 15, 2020.
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Seasonable doubt: Preparers discuss hiring temp help for tax season | Accounting Today
Next season looms. So, for many practices, does the influx, both good and bad, of part-time and temporary staff.
The Bureau of Labor Statistics reports that – not surprisingly – tax prep services' employment peaks in February. Some challenges to finding staff remain the same as in previous years, such as the low unemployment rate. Workers also still balk at taking temporary jobs without the holy grail of benefits.
"I look for at least 10 years' experience in a high-volume, fast-paced environment, as well as the ability to make decisions and work with little supervision," said Debra James, an Enrolled Agent at Genesis Accounting & Mgmt. Services, in Lorain, Ohio.
Atlanta Auditor to Take Helm at Government Accounting Rulemaker
An auditor well known in state and local government accounting circles will take the helm at the governmental accounting rulemaker in July, the parent organization of the Governmental Accounting Standards Board announced Jan. 7.
Joel Black, partner in charge of the audit practice at Mauldin & Jenkins LLC in Atlanta, will start his seven-year term as GASB chairman on July 1, the Financial Accounting Foundation said.
Art of Accounting: Fire yourself | Accounting Today
Start 2020 by firing yourself as the boss, CEO or managing partner. Then rehire yourself. As the new CEO, what would you do to justify the confidence you had in you?
Did you ever notice that when a new CEO is hired, there is a burst of optimism and, if it is a public company, it is usually accompanied by a rise in the stock price?
I have seen many firms stagnating under the longtime leadership of the founders. Did you ever notice that when a new firm or business is started, there is a quick and steady growth, but then it stops and settles at a certain level? The people who grew the firm seem to reach a level that they feel is "their level," after which something happens that stops the growth. The firm doesn't decline but stops its growth. There are many reasons for this, but the reality is that the firm levels off.
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Time for tax pros to start marketing | Accounting Today
While tax professionals are preparing for the January 27 start to the 2020 filing season, they should also be planning their marketing strategy for the year ahead, according to Chuck McCabe, president of Peoples Income Tax and The Income Tax School.
"So if you haven't already started developing a marketing plan for 2020, now is the time, before the rush of clients begin coming through the door," he advised.
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Client satisfaction is a component of successful 'word of mouth' marketing, he noted. "When a client leaves your office after having their taxes prepared, it's important that they have a positive feeling about the experience," he said. "Part of that feeling comes from confidence that the preparer took note of their personal situation in applying the tax law for their benefit. They are likely to tell their friends and associates, and are more likely to continue to use your services.
Under Armour stealthily hires new accounting chief amid probes | Article | Compliance Week
Sports apparel company Under Armour made an under-the-radar executive change in November, hiring Aditya Maheshwari as chief accounting officer.
The hiring was first confirmed by the Baltimore Business Journal . Under Armour didn't officially announce the appointment via a press release, nor did it submit a filing with the Securities and Exchange Commission as is usual practice.
The hiring came just weeks after a third-quarter earnings call in which the company scrambled to respond to reports the U.S. Department of Justice and the SEC had launched inquiries into Under Armour's accounting practices and disclosures back in 2017 that were still ongoing. CFO David Bergman confirmed the company is the subject of an investigation but said "we firmly believe" that accounting practices and disclosures are and have been "appropriate."
National Accounting Firm TYS, LLP Merges with San Francisco-Based Lefkowitz & Company LLP
"I was once told by a friend and client, 'Bigger is not always better, but better is almost always bigger," said Glen A. Thomas , TYS Partner and Co-Founder . "At TYS, we've always believed in being better. The merger with Lefkowitz clearly makes us bigger. The addition of David, Lori, and their team increases our service offerings, broadens our human capital, extends our geographic reach and brings new clients. Simply put, the merger with Lefkowitz & Company makes TYS better."
New Brilliant™ Study Reports a High Number of Open Accounting, Finance and IT Roles in Q1 2020
The data shows 35% of businesses that participated in the study reported unfilled positions in accounting and finance, and 28% reported openings in IT, going into Q1 2020.
Sagar Pandya , CPA, Vice President of Operations at Brilliant, explains, "More than one third (35%) of the human resources professionals and hiring managers who participated in the study reported unfilled jobs in accounting and finance. This number increased from last quarter (33%). For IT, the number of open positions was unchanged for a third consecutive quarter at 28%.
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.@salesforce #Sustainability Cloud, a carbon accounting product for businesses to drive #climate action, is now gen… https://t.co/DpbOOpfn3C SalesforceNews Mon Jan 06 14:15:41 +0000 2020
great info get the best part time accountant
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