A conversation that all accounting firms and departments need to have, especially during times of viral epidemics and other public health crises, is how to keep the business running efficiently during these times.
By now you and your colleagues are likely staying away from the office and working from home. If that's not already your regular routine, then it may take some adjustment.
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It's in this state that your business should provide employees with all the necessary tools and training to do their jobs from their homes, as well as be able to effectively communicate with coworkers. Luckily, SaaS applications make it easy for workers to access their most used software from nearly any computer, meaning that even if they're not on your office network, they can still access their applications and data from home.
Other things to check out:
Congress passes, Trump signs $2.2T coronavirus stimulus package | Accounting Today
According to the Washington National Tax Office of Top Six firm Grant Thornton, the business provisions of the act include:
In addition to income-related rebate checks of $1,200 per filing adult and $500 per qualifying child, the individual provisions include:
"It's a $600 billion tax cut," said Dustin Stamper, tax legislative affairs practice leader and a managing director in Grant Thornton's Washington National Tax Office."Lawmakers clearly designed it to offer immediate benefits in cash flow flexibility. In many cases taxpayers have multiple options to claim benefits and can choose whatever method gets money in their hands more quickly."
U.S. regulators give banks relief on accounting standard, derivatives rule
WASHINGTON (Reuters) - U.S. banking regulators told banks Friday they could ignore the capital implications of a new accounting standard for two years and adopt early a new, more sensitive way to measure risk in a bid to ensure banks continue lending through the pandemic.
The Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency said the moves are aimed at reducing hurdles for banks to keep lending. By allowing banks to dodge a problematic accounting standard and sooner use a new risk measure for counterparties, regulators hope to "smooth disruptions" that could slow lending.
Crowe accounting firm names Mark Baer CEO
Baer, who has been a partner in the firm based in Ohio, will take over in April 2021, succeeding James Powers, who has had the position since 2014. The announcement comes during an uncertain time, as COVID-19 are forcing much of the private sector to go remote.
"Today our main focus is on the safety of our people and our communities in response to the COVID-19 pandemic, understanding we must also plan for the firm's future," said Crowe Board Chair Dawnella Johnson in a statement. "The one-year CEO transition period allows us to focus on both our short-term and long-term plans."
Many things are taking place:
What Accounting Skills Will You Learn in an MSA Program? | NEC MSA
Earning a Master of Science in Accounting degree sets you apart from many others in the field, giving your career a competitive advantage. Here's why:
The accounting skills you'll gain from an MSA degree prepare you to take on the most challenging (and rewarding) projects in accounting, administration, risk management, and much more.
Know Your Dough receives donation from ASAP Accounting & Payroll Inc.
Know Your Dough, a nonprofit that provides tailored, in-person financial wellness programs for local youths, was the recipient of a $400 financial award from ASAP Accounting & Payroll Inc. to sponsor its fourth-grade program.
The money will go toward providing financial literacy classes to elementary school students in La Plata County for Know Your Dough, Inc. The organization is encouraged by the show of community support and is grateful for the opportunity to serve additional local youths.
Cryptocurrency Accounting Firm Launches Library of Legal and Tax Advice
Cryptocurrency accounting company, Lukka , has announced the launch of the Lukka Library — an interactive collection of academic papers addressing legal, accounting, and tax questions pertaining to crypto assets.
On March 26, Cointelegraph spoke to Lukka co-CEO, Robert Materazzi, and Lukka Library creator and head of tax and regulatory affairs, Roger Brown.
Materazzi states that the company was formed under its former brand, Libra, in 2014 after the founder “Googled how to pay his capital gains tax and found that there wasn't any solution that was out there.”
Wolters Kluwer Provides Complimentary Online Webinars to Help Tax & Accounting Professionals
"Our customers and tax and accounting professionals in general are seeking meaningful content to help them navigate the current market conditions," said Jason Marx, chief executive officer, Wolters Kluwer Tax & Accounting North America. "Through complimentary sessions like these or the many resources we've made available online, we are helping the profession better understand the impact the COVID-19 pandemic on practices and clients."
Happening on Twitter
House bill allows corp bailouts if CEO pay capped at 50 times median worker. But no way to police this. Armies of… https://t.co/KrUkpHQHTx RBReich (from Berkeley, CA) Mon Mar 23 22:24:17 +0000 2020
Putting "conditions" on taxpayer-funded corporate bailouts won't help. If corporations promise to limit executive… https://t.co/5bM2LrubFt RBReich (from Berkeley, CA) Tue Mar 24 01:10:02 +0000 2020
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