NASHVILLE, Tenn. (AP) — The Lee Administration will pay $250,000 to private accounting firm the Horne Group to help it handle more than $7 billion in federal COVID-19 relief funds, the Daily Memphian reported .
The national firm with offices in Memphis, Nashville and Jackson will be responsible for setting a strategy for how to spend the COVID-19 funding and ensuring all expenses comply with federal rules. CARES Act money must be spent, not just obligated, by the end of 2020.
This may worth something:
Digital Transformation in Accounting Sales Market global industry trends, COVID-19 impact
Countries across the world have started reopening their economies despite the rising number of cases in hopes of a quick recovery from the pandemic. Global recovery from the pandemic, however, seems very uncertain as it has caused an uneven impact on various sectors and countries. In this report we have analyzed the impact of COVID-19 on Digital Transformation in Accounting Sales Market across various regions and major countries.
Accounting Practice Management Software Market: Global Analysis of Key Manufacturers, Dynamics
Global Accounting Practice Management Software Market analysis report speaks about the manufacturing process. Global Accounting Practice Management Software market report analyses the market growth, trends, overview & forecast to 2025.The report covers key technological developments in the recent times and profiles leading players in the market and analyzes their key strategies.
The recent study on the Accounting Practice Management Software market contains a detailed assessment of the business arena with respect to the various market divisions. This report also evaluates the impact of Covid-19 outbreak on the Accounting Practice Management Software industry, involving potential opportunity and challenges, drivers and risks.
Alice Jolla to take over as Microsoft's chief accounting officer following Frank Brod's
Microsoft corporate controller Alice Jolla will take over as chief accounting officer following the retirement of Frank Brod.
Microsoft announced Jolla's new role in an SEC filing Wednesday. Brod leaves a 31-year career that has spanned business and finance in three countries. He spent 14 years at Microsoft.
Jolla will become Microsoft's top accountant on July 31, though Brod will remain on through September to aid in the transition. As part of the promotion, Jolla will receive a stock award worth $1.5 million, vesting 6.25% each quarter she remains with the company. She will be joining the finance leadership team under Microsoft finance chief Amy Hood.
Quite a lot has been going on:
ASC Topic 842 changes financial, but not tax, accounting for leases
FASB in 2016 issued Accounting Standards Update No. 2016-02, Leases (Topic 842) , which is effective for public companies for fiscal years and interim periods within fiscal years beginning after Dec. 15, 2018 (Dec. 15, 2021, for entities not meeting FASB's definition of a public business entity).
FASB Accounting Standards Codification Topic 842, Leases , significantly affects financial statement accounting for lessees, eliminating the traditional concept of an operating lease and requiring virtually all leases to be presented on the balance sheet. Topic 842 should not significantly affect the financial accounting for lessors, although some lessors may conclude, while considering the impact of Topic 842, that they were improperly accounting for leases.
Accountants see recovery in the mid-term | Accounting Today
The Accountants Confidence Index continued its rebound from June, with accountants predicting modest contraction in the short term — and growth again within six months.
A large number of respondents said that they were concerned that attempts to prevent the spread of the coronavirus were causing more damage to the economy than necessary, though many others noted that a resurgence of cases could derail any potential economic recovery.
The ACI, published in partnership with ADP, is a monthly economic indicator that leverages the insights of accountants into the strength and prospects of businesses in the U.S. The 3-Month ACI hit 45.35, a significant jump up from the previous month's 36.1 (though still far below the 50 mark that separates expectations of growth from expectations of contraction). The 6-Month ACI, meanwhile, came in at 52.07, up close to 10 points from last month's 42.35 — and just into expansionary territory.
NYPD budget cuts an 'accounting gimmick': Former commissioner | Fox Business
Former NYPD Commissioner Ray Kelly discusses the push to defund the police as crime rises in metropolitan areas and New York City Mayor Bill de Blasio slashing the NYPD budget by $1 billion.
Former New York City Police Commissioner Ray Kelly said the idea of defunding police is “ludicrous,” and called the Big Apple’s budget cuts against the NYPD “an accounting gimmick.”
Authorization of special accounting standards for credit institutions by the CNBV.
On March 26, 2020, the National Banking and Securities Commission (CNBV) issued special accounting standards applicable to credit institutions as a consequence of the COVID-19 contingency. On June 29, 2020, the term granted to such institutions was extended .
On March 26 th of this year, the CNBV issued special accounting standards with the purpose of providing support measures to the clients that were hindered from facing their credit obligations with banking institutions.
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