Meet Pennylane , a new French startup that is a building a full-stack service to deal with your financial data. With Pennylane, you get a real-time view of your financial data and you don't have to work with an accounting company — the startup hires accountants for you.
The startup just raised a $4.3 million (€4 million) seed round with Global Founders Capital, Partech and Kima Ventures. Pennylane's founders previously worked on PriceMatch, a startup that was acquired by Booking.com in 2015.
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Accountants can help companies set strategy to deal with coronavirus | Accounting Today
Management accountants and CFOs can play an important role in guiding companies through the strategic options available to cope with the COVID-19 pandemic.
"Pretty much any company strategy going into 2020 probably at a minimum has to be revisited and probably altered to some extent just because, as you say, this is such an unprecedented event," said Kip Krumwiede, director of research at the IMA, who co-authored the SMA report. "There's not a lot of precedent or prior practice to fall back on, but it's going to be even more essential that they have the right strategy as business resumes.
5 things companies should do in tough times | Accounting Today
Straight to the point, tough times call for tough measures. Or do they? It all depends on how you define tough measures and how appropriate they really are for the circumstances. As companies currently face a unique situation in modern history and are evaluating continued operations, balancing profits with acceptable levels of loss, functioning with massively more remote work and trying to make up for any economic disruptions, the first thought tends to be "How can we cut costs?"
Eventbrite Faces New Accounting Challenges as Coronavirus Clouds Projections of Future Refunds -
The coronavirus pandemic is striking a blow to the event-ticketing industry as organizers cancel and postpone concerts and other performances to adhere to lockdown orders and social-distancing protocols.
Some events might not be rescheduled due to logistical or planning difficulties. That uncertainty poses an accounting challenge for San Francisco-based Eventbrite Inc., which reported a 40% decline in net revenue to $49.1 million year-over-year in the first quarter.
In case you are keeping track:
IRS criminal investigators' undercover travel expenses probed | Accounting Today
The Internal Revenue Service's Criminal Investigation unit spent more than $1.3 million in fiscal year 2018 on undercover confidential operations, including travel costs, according to a new report. While those expenses were mostly backed up by sufficient documentation, the controls over them could be improved.
Based on TIGTA's review of 49 fiscal year 2018 vouchers that included undercover travel expenditures, the report said the expenses were generally supported by adequate documentation, but controls over undercover travel expenditures and the investigative imprest fund could be improved in some important areas. Specifically, CI's procedures don't require advance approval for hotel rooms that go over the maximum allowed per diem rate and the use of luxury rental cars.
Accounting for global COVID-19 diffusion patterns | VOX, CEPR Policy Portal
Yothin Jinjarak, Rashad Ahmed, Sameer Nair-Desai, Weining Xin, Joshua Aizenman 20 May 2020
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Note : Seven-day rolling average new mortality rate by country. Y-axis normalised to have all countries fit the same scale. Period: 23 January – 28 April 2020. Special case countries omitted from the above plots: China, Singapore, and Vietnam.
First, we investigate the evolution of weekly mortality growth rates over time and across countries. Applying local projections (Jorda 2005), the panel evidence suggests that administering more stringent pandemic policies were associated with significantly lower future mortality growth rates during the first pandemic phase. 4
Cloud Accounting Software Market is expected to grow at 8.5% CAGR during the forecast period 2019
According to BlueWeave Consulting , the Global Cloud Accounting Software Market is expected to grow at a significant rate during the forecast period. The global cloud accounting software market is anticipated to grow at a CAGR of 8.5 % during the forecast period 2019 – 2025, by reaching the valuation of USD million by the end of the year 2025. The market is growing owing to various factors.
Request to get the report sample pages: https://www.blueweaveconsulting.com/global-cloud-accounting-software-market-bwc19344/report-sample
Congress should leave accounting standards to FASB | Accounting Today
In March, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act to help stabilize the U.S. economy in the wake of COVID-19. Included in the Act, and little noticed by the general public, are provisions that exempt companies from complying with two accounting standards issued by the Financial Accounting Standards Board.
Such actions threaten the FASB's independence and set a dangerous precedent with serious potential to undermine confidence in corporate financial reporting.
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