In addition to causing enormous disruption to health, safety, and the economy across the globe, the coronavirus pandemic has significantly altered the landscape for CPAs related to the lease accounting standard.
The changes include a potential effective date delay of FASB's new lease accounting standard for certain entities, including private companies; a monumental increase in the number of lease modifications requested by lessees and granted by lessors; and the need for disclosures related to a company's lease accounting decisions in the new environment.
This may worth something:
6 Things You Should Know About Careers in Accounting – Times Square Chronicles
Accounting is a career path that allows you to use your skills with numbers and logic to help people and businesses make the most of their money. While many people think accountants simply help balance the books, there's much more to the job, from understanding regulations to building financial strategies, so the profession is a little misunderstood. Here are some things you should know about accounting careers, so you can decide whether they are right for you.
This $30 QuickBooks Course Can Help You Avoid Costly Accounting Mistakes
This two-course bundle covers both QuickBooks 2020 and QuickBooks 2020 Online, giving you a comprehensive education on how to use both. In the first course, you'll learn to navigate the QuickBooks 2020 interface, create a company file, and set up your chart of accounts. From there, you'll be able to process payroll and payroll taxes, create invoices, pay bills and purchase orders, and much more.
In the QuickBooks 2020 Online Course, you'll discover Intuit's cloud accounting software. You'll go through some of the same processes, creating your company and setting up your chart of accounts before choosing settings and preferences that best suit your company. Then, you'll learn how to set up automations, journal entries, and other recurring items to automate aspects of your business.
Luckin Coffee's Accounting Scandal Thwarts Backer's $2.5 Billion Fund - WSJ
The accounting mess at China's Luckin Coffee Inc. has forced one of its top backers to put off its fundraising plans.
Centurium Capital, a three-year-old Chinese private-equity firm that has a sizable investment in Luckin, has put on hold plans to raise a second fund with a target size of $2.5 billion, according to people familiar with the matter. Its decision comes after the coffee chain's revelation that employees fabricated much of its 2019 sales.
And here's another article:
SEC says Italy's Eni agrees to settle accounting charges in Algeria graft case -
MILAN, April 17 (Reuters) - The U.S. SEC said on Friday Italian oil and gas group Eni had agreed to settle charges it breached corruption accounting rules over “improper” payments by a former unit in Algeria.
The Securities and Exchange Commission said in a statement Eni had “violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act in connection with an improper payment scheme” in Algeria by former unit Saipem.
Partner Pay Cuts Might Not Suffice for U.K. Accounting Giants
The major accounting firms shifted into survival mode this week in the U.K., slashing partner pay in the hopes of protecting jobs once they emerge from the coronavirus crisis.
Yet as the pandemic continues to wreak economic havoc, the question is whether more systemic change will be needed. The big accounting firms may have to consider changes to their core business models, refocusing on audit as their more lucrative advisory business withers.
A Beginner's Guide to Cloud Accounting Success: Everything to Know | Donklephant
But what exactly is cloud accounting? And, even if you're up to speed on the definition, what kind of software should you be using?
* * *
Most digital accounting uses software hosted on a computer hard drive, like QuickBooks. But cloud accounting uses software that's hosted online on the cloud.
Basically, cloud computing means storing data over the internet. This means you don’t need to use your computer's hard drive. Cloud accounting software is similar to transitional self-install software. But the data is stored and returned to the user through the internet.
(CONFIRMED) Layoff Watch '20: Did This Top 35 Accounting Firm Just Lay Off a Bunch of People Too?
The other night while I was trying to get some more information about the layoffs at Crowe and Baker Tilly , we got a tip saying that another top accounting firm had just laid off 60 employees. I hadn't seen these layoffs discussed on Reddit or Fishbowl, so I wasn't sure if they were just your typical mid-April headcount reductions or if the current economic downturn caused by coronavirus forced this firm's hand.
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