I believe the future of the small accounting firm is bright and secure. Right now there are many challenges such as the coronavirus pandemic, along with extremely unsettling moments, unpleasant client interactions, cash squeezes and an overload of new things that have to be learned in a miniscule time. However, I've spoken to many owners of, and partners in, small firms and see an optimistic future.
On a personal note I have the highest admiration for every small firm accountant I have spoken to. They were all on top of the Secure Act and CARES Act, the SBA, the PPP and other programs. They learned it as they always have — out of necessity because their clients relied on them. And they learned it quickly, the way they always did. They had a job to do and they just sat down and did what accountants are trained to do.
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Tezos Southeast Asia Signs Deal to Test Blockchain in Accounting Industry
Tezos Southeast Asia — a non-profit organization is dedicated to promoting the adoption of the Tezos blockchain in the region — has inked a deal with the Association of Chartered Certified Accountants on April 13.
According to a press release , the partnership between the ACCA and TSA will explore the applications of the Tezos blockchain in the accounting industry. The ACCA is a major global accounting organization that provides certifications and training for accountants.
Fifth-Largest US Accounting Firm Partners With Crypto Tax Tech Company
Blockchain-native software and tax services company, Lukka, has been chosen to provide crypto taxation software to the fifth-largest accounting firm in the United States, RSM.
Cointelegraph spoke to Lukka CCO Jeremy Drane, and RSM senior manager of international tax and blockchain/cryptocurrency, Jamison Sites, to find out more about the partnership between the two firms.
The deal will see RSM’s tax clients provided with the ‘Lukka Crypto Office’ and ‘ LukkaTax for Professionals ’ software to assist the tax preparation needs of both individuals and enterprises.
Accounting Class Action Filings and Settlements—2019 Review
Accounting case filings increased by 18 percent over 2018, driven by increases in both core accounting case filings (5 percent) and M&A-related accounting case filings (29 percent).
The proportion of accounting case filings to total case filings (42 percent) was the second highest over the last 10 years.
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More M&A accounting cases were filed in the second half of 2019 than in any other semiannual period in the last five years.
In case you are keeping track:
Accounting Firm Friedman LLP Gets Trendy New Downtown Offices – Commercial Observer
When accounting firm Friedman LLP decided to move downtown to One Liberty Plaza, the company wanted a fun, youthful vibe for its new space after more than 50 years in a stodgy corporate office near Times Square.
So, it hired architecture firm MKDA to create a new 45,000-square-foot office with various kitchens, lounges, conference rooms, open workstations and private offices. Fixtures, vents and pipes have been painted in splashes of primary colors, and many of the design choices were made with an eye toward being whimsical and playful.
SFO: Tesco concludes three-year DPA for accounting scandal | Article | Compliance Week
The U.K. Serious Fraud Office announced Friday that British supermarket chain Tesco Stores has fulfilled the terms of its 2017 deferred prosecution agreement resulting from an accounting fraud scandal.
In September 2014, Tesco announced it had overstated its profits by £250 million (U.S. $329 million). Following a two-year investigation that concluded in April 2017, Tesco paid a £129 million penalty (U.S. $170 million) and a further £3 million (U.S. $4 million) for the SFO's investigation costs.
How COVID-19 Impacts Lease Accounting
The coronavirus pandemic is upending the ability to collect and pay rents or other lease obligations, as well as hampering lease accounting and compliance with ASC 842.
Without the right accounting tools to handle the various changes, companies may spend hours or days creating tedious workarounds to make adjustments for lease accounting compliance requirements. Here are the significant areas of lease accounting that will be affected by COVID-19.
AMC's Bid to Avoid 'Walking Dead' Accounting Trial Denied by N.Y.
The Walking Dead profits fight between AMC on one side and Frank Darabont and CAA on the other is one step closer to trial as a New York judge on Monday denied the network's motion for summary judgment.
Darabont in 2013 sued, claiming he's owed hundreds of millions in profits because of AMC's allegedly shady accounting practices, while the network claims everything is above board and the producer is trying to renegotiate his contract through litigation.
Happening on Twitter
With Trump personally involved in several phone calls to Moscow, Riyadh and Mexico City, the stakes are to high for… https://t.co/iX28SQLB6S JavierBlas (from London) Sat Apr 11 08:34:53 +0000 2020
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