The unemployment rate declined by 0.5 percentage points to 7.9 percent in September, the U.S. Bureau of Labor Statistics reported Friday, as employers added 661,000 jobs, including 2,200 in accounting and bookkeeping.
The labor market improvements reflected the continued economic recovery despite the novel coronavirus pandemic and efforts to contain it. However, stocks fell sharply Friday after news Thursday night that President Trump and First Lady Melania Trump have both tested positive for COVID-19.
Were you following this:
Epic Charter Schools calls state auditor's report on accounting practices 'fiction' | Local News
A day after the announcement of findings in a state auditor's investigation of Epic Charter Schools, officials with Epic fired back, providing responses and documentation that they say "sets the record straight."
"This isn't the first time we've been subjected to political scrutiny, nor were the allegations new," Shelly Hickman, Epic assistant superintendent, said.
"The findings were presented with over-the-top sensationalism guaranteed to stir up defenders of the education status quo because we are growing, and they are struggling."
PCAOB sanctions Marcum from doing China audits | Accounting Today
The Public Company Accounting Oversight Board has imposed a $250,000 penalty on Marcum LLP and its Marcum Bernstein Pinchuk unit over audits of Chinese companies and prohibited the firm from auditing clients in China for three years.
Drew Bernstein, a co-founder and managing partner of Marcum BP, told Accounting Today recently during an interview before the latest PCAOB sanctions were announced why he thinks Chinese companies remain good investment opportunities despite the attempts by the PCAOB, the SEC and the Trump administration to crack down on Chinese firms and trade.
$1.7M Adkerson Foundation gift creates online MSU master's accounting programs, minority
STARKVILLE, Miss.—The Richard C. Adkerson Family Foundation addresses two significant issues facing the southeastern United States with a gift to its namesake's alma mater, Mississippi State University.
The more than $1.7 million gift will strengthen accounting education through accessibility by establishing two online graduate-level degree programs for the Richard C. Adkerson School of Accountancy and bring fellowships to African Americans who enroll full time in the programs.
Quite a lot has been going on:
People & firms on the move: Anderson ZurMuehlen appoints new CEO | Accounting Today
Crowe releases survey on 2020 business challenges; Katz, Sapper & Miller names first non-CPA CEO; and more CPA news.
Great Falls man named as new CEO of Montana accounting agency
Anderson ZurMuehlen has been around for 63 years with seven locations across the state. They've expanded from traditional accounting, tax, and audit services, to now include technology services as well with AZTS based in Helena.
Reisig has been with the company since 2011. He's the company's first CEO to be based in Great Falls rather than in Helena.
"I'm looking forward to a different train of thought. I'm looking forward to doing whatever I can to make sure our employees are as successful as they possibly can be," said Reisig.
Showdown Looms on Cost Accounting Standards
The Federal Circuit’s decision in The Boeing Company v. United States clears the way for resolution of Boeing’s substantive challenge to a controversial Federal Acquisition Regulation provision that can give the government windfall recoveries in Cost Accounting Standards (CAS) matters. The case is notable for several reasons.
First, the court clarified the circumstances in which a contractor will be found to have waived its rights to object to a FAR provision.
The Impact Of Digitalisation On Traditional Accounting System
Over the last few years, technology has transformed how we manage different aspects of business operations and accounting is no exception
Machine Learning and AI, the fast-evolving technologies, enable the software to learn on its own and improve results without requiring human intervention
Digitisation of operations is not only beneficial for those working within the organisation but also for the clients
Happening on Twitter
Job growth slowed sharply in September, as U.S. employers added 661,000 new workers. Jobs gains have declined in e… https://t.co/M11xPXClrB NPR Fri Oct 02 12:46:48 +0000 2020
Final jobs report before Election Day shows US employers added 661,000 workers in September https://t.co/hd2HQWU8SX FoxNews (from U.S.A.) Fri Oct 02 15:40:48 +0000 2020
Stocks open lower on Wall Street, reacting to the news that President Trump tested positive for the coronavirus. Em… https://t.co/DzZXMmouEb AP (from Global) Fri Oct 02 14:19:27 +0000 2020
"Employers added 661,000 jobs in September, pushing the unemployment rate down to 7.9% from 8.4%." https://t.co/WFisdP2CAN FrankLuntz (from All over) Fri Oct 02 14:44:20 +0000 2020
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