We're now over a month into 2021, but in many ways, it feels like an extension of 2020. The pandemic has yet to subside in any meaningful way, and that means a certain level of uncertainty remains across industries, including accounting. Controllers are taking center stage in keeping their companies afloat, and other effects continue to cascade.
Business never stops, and the winners will be those who are able to react and adapt quickly. And when it comes to the accounting profession specifically, there are five trends I will be keeping my eye on as the year plays out:
Many things are taking place:
ACCOUNTING TECHNICIAN I job with Arlington County (Virginia) Government | 41921496
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2020 has been an interesting year for businesses, while some have grown others have been greatly affected by the pandemic. Today on ABC4 Utah we have a local expert – Ron Valentine joining us from Valentine CPA.
Ron tells us that according to statistics he is showing that 9 out of 10 businesses fail miserably within the first year and there are many reasons for this. One of the reason’s that Ron sees is that business owners get distracted with their priorities.
As tax season opens, Accounting Blockchain Coalition adds crypto tax platform; and more |
As tax season opens, Accounting Blockchain Coalition adds crypto tax platform; BKD becomes reseller of Reptune; and AccountMate updates software, adds TaxJar integration.
Many things are taking place:
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De Blasio calls for 'full accounting' after Cuomo accused of covering up nursing home
De Blasio, a frequent critic of both the governor and the New York Post, called it a "really disturbing report" and added that it's "very troubling."
Impact: DeRosa said the administration refrained from releasing the data due to former President Donald Trump's efforts to turn the tragedy "into a giant political football," according to the Post.
In a statement issued early Friday morning, she said when the administration received the inquiry from the Department of Justice, they had to "temporarily set aside the Legislature's request to deal with the federal request first." She also said the governor's office "informed the houses of this at the time" and insisted Cuomo officials were "comprehensive and transparent in our responses to the DOJ."
Disclose 'Material' Accounting Policies, Standards Board Says
The International Accounting Standards Board has changed some rules to clarify when accounting policies should be disclosed to make financial statements more useful.
Tax Fraud Blotter: Final opportunities | Accounting Today
Barrett included, among other things, tens of thousands of dollars of false and fraudulent deductions for business expenses and gifts to charity on returns he prepared for himself and his clients. He also failed to report on his own personal returns more than $300,000 in receipts that he received for his prep services from 2012 through 2015.
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He was also sentenced to three years of supervised release, and an obligation to pay the IRS more than $573,000 in back taxes, interest and penalties.
Happening on Twitter
The FAA's air traffic controllers, managers and technical professionals did a tremendous job managing increased ope… https://t.co/VNrgT7cRhR FAANews (from Washington, D.C.) Tue Feb 09 18:02:54 +0000 2021
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