Wauwatosa-based Wipfli kicked off 2020 with the acquisition of Denver-based accounting firm Strategem – Wipfli's sixth acquisition in just over a year.
Wipfli will add 56 Strategem employees including six partners to its team, which makes the company the 11th largest certified public accountant firm in the Denver area, according to a press release.
Founded in 1983, Stratagem provides advisory, accounting and tax services to privately held businesses and individuals with a focus on construction, real estate businesses, nonprofit organizations, governmental entities and high-net-worth individuals.
And here's another article:
In the blogs: The way ahead | Accounting Today
Candidates and credits; best of Twitter; smoothing out next season; and other highlights from our favorite tax bloggers.
ACI — January 2020: A soft start | Accounting Today
After getting a bump at the end of 2019, the Accountants Confidence Index took a dip for the start of 2020.
The ACI, published in partnership with ADP, is a monthly economic indicator that leverages the insights of accountants into the strength and prospects of businesses in the U.S. The 3-Month ACI came in at 53.54, off by just over half a point from the previous month's 54.1 (though still well above the 50 mark that separates expectations of growth from expectations of contraction). The 6-Month ACI, meanwhile, came in at 54.55, also off by about half a point from last month's 55.1.
The Top 100 People: Overcoming obstacles | Accounting Today
No one's career runs perfectly smoothly, and everyone faces some obstacles. In the end, though, what matters most isn't the size of the obstacles you face, but how you rise above them.
As part of this year's Top 100 Most Influential People survey, Accounting Today asked, " Have you faced a major obstacle or challenge in your career? How did you overcome it? "
Some of their most interesting (and, in more than a few cases, inspiring) stories are below, ranging from business crises to health problems to difficulties with the CPA Exam.
Many things are taking place:
Why college students are good clients | Accounting Today
Every business has clients they would rather not engage with. For some accounting firms, these clients are college students, who are normally inherited when the firm handles their parents' or family members' tax returns. Although it may not seem like a good strategy to take on a college student, here are four beneficial reasons a CPA should reconsider their stance.
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Most college students have never prepared a tax return before or handled their own finances. These inexperienced clients are opportunities for CPAs to influence financial decisions and instill responsible habits early. By encouraging the client to retain proper tax documentation (such as Form 1098-T), the CPA is building the groundwork for more complex tax returns in the future.
Corporates Brace For Cloud Computing Changes | PYMNTS.com
The Financial Accounting Standards Board (FASB), which establishes accounting standards in the U.S., has released new guidance on computing costs for cloud computing to take effect for public businesses in 2020. It also provides a new standard for companies that struggle with the implementation of the technology, according to a report by Compliance Week .
The new information was released in Accounting Standards Update No. 2018-15 , called the "Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract."
Manage Every Finance With Complete Accounting Solution AcctFusion - Inman
This smart, comprehensive business accounting software doesn’t require any third-party products to manage every penny that enters and leaves a brokerage. It includes e-checks, unlimited commission structures and easy integration with popular transaction solutions, if desired.
Only that it’s a year old and that it’s probably best run by office managers or hands-on brokers.
GASB 87: State and local government entities face special challenges beyond mere accounting |
Previously, governmental entities reported their leases similarly to how private entities reported leases under ASC 840. While finance leases would be capitalized on the balance sheet, operating leases would be reported in the footnotes. However, the Governmental Accounting Standards Board's Statement No. 87 (or GASB 87) requires that all operating leases now be accounted for as finance leases.
The standard generally mirrors leasing standards issued by the Financial Accounting Standards Board and the International Accounting Standards Board, although there are specific differences in accounting treatment. Government entities also face other challenges specific to the nature of their operations, challenges that many may not have anticipated, and which are related to the very nature of their organizations.
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