In April, Knauf paid the small team at his accounting firm for 200 hours of work while he gave 600 hours for free as a way of helping businesses.
When the Internal Revenue Service and Department of Treasury extended the tax deadline from April 15 to July 15, Knauf felt a sense of relief. But things changed 90 minutes later, when Gov. Ron DeSantis announced the state was shutting down to try to control the pandemic's outbreak in Florida.
In case you are keeping track:
IASB Provides Relief to Companies Accounting for Leases - WSJ
The International Accounting Standards Board on Thursday granted temporary relief to companies accounting for rent concessions they received on leases due to the coronavirus pandemic.
The move by the IASB, which sets accounting standards in more than 140 countries, aims to make it easier for companies leasing several properties to account for their lease liabilities if they are getting breaks on rent.
Forensic accountants are in demand : The Tribune India
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Forensic accountants are in demand Career coach Usha Albuquerque answers students' queries
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Q . I am currently in Class XII in commerce stream. I have decided to pursue CA after completing Class XII and eventually forensic accounts. Please tell me the opportunities for a forensic accountant in India and abroad and the average salary. Also what are some options that I can fall back on after BCom other than this course?
Eau Claire County DHS reports $1.1 million accounting error
EAU CLAIRE, Wis. (WEAU)-- This week, the Eau Claire County Board of Supervisors learned of a $1.1 million dollar accounting error in Department of Human Services finances for 2019.
Eau Claire County Administrator Kathryn Schauf says a $2.2 million overage should have been reported as $3.3 million.
Schauf says the error was made in February and the discrepancy was noticed during a rerun of projections last week.
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KT&G likely to get slap on wrist for alleged accounting fraud
The focus shifts to PPP forgiveness | Accounting Today
"At first, the issue was eligibility," he said. "Now that we're past that the question becomes what about forgiveness — how do you document expenses? Assuming you get some amount forgiven, what are the tax consequences?"
"Many members of Congress, including Senate Finance Committee Chair Chuck Grassley, have stated that the IRS's position in Notice 2020-32 is contrary to the legislative intent of the PPP," indicated Norman Lencz, a tax partner at law firm Venable. "In addition, a number of professional organizations, such as the AICPA, have issued statements requesting that Notice 2020-32 be rescinded or overruled by legislative action.
AI Accounting Reduces HVAC Contractor's Invoice Processing Time by 60 Percent | 2020-05-28 | ACHR
Founded in 1989, Beyer Mechanical is family-owned and -operated and specializes in service, maintenance, construction, and design build in the greater San Antonio area. Last year, the company made about 20,000 customer service calls.
“From an invoicing perspective, we’re averaging right around 1,500 invoices a month,” said Jeremiah Heisey, financial controller at Beyer Mechanical.
Prior to the introduction of AI, two accounts payable (AP) clerks handled the invoices, using an older AP system and PaperSave. Each invoice had to be manually coded and routed for approval. The enterprise resource planning Sage Intacct wasn’t integrated with PaperSave, so PO matching for invoices was often unreliable.
Lawsuit seeks PPP agent fees for accountants | Accounting Today
A lawsuit has been filed against some of the biggest names in banking in connection with the Paycheck Protection Program. The class-action suit, American Video Duplicating et al v. Citigroup, a class action, alleges that the banks have systematically failed to pay to agents of borrowers — in most cases accountants — their share of the processing fees established under the program.
Michael Adler, a partner at GrayLaw Group Inc, started the case. He said he first realized something was wrong when he received a phone call from a friend who is a Small Business Administration consultant. "He was upset because the lenders he was trying to place with PPP clients were not paying the fee that is required by law," Adler said.
Happening on Twitter
Thank you to the Englewood community for working with us to ensure a peaceful demonstration today. #CPDMediaCar https://t.co/7avHcYpLyP Chicago_Police (from Chicago, Illinois) Sat May 30 02:54:08 +0000 2020
So why were the New Jersey rallies on Saturday much more peaceful than elsewhere? Better local leadership? Stronger… https://t.co/vUJ49qzgfs NewsFallon (from New Jersey) Sun May 31 12:10:49 +0000 2020
Excited to see Kennedy-King College in Englewood become one of several free COVID testing sites where your income o… https://t.co/Jh69EaoU2Y chicagosmayor (from Chicago, IL) Thu May 28 22:11:16 +0000 2020
