Quite a lot has been going on:
The unbalanced balance sheet: Make intangibles count | Accounting Today
Change and uncertainty are a feature of our world alongside innovations in our fast-changing economy. Investments in new business models and intangible assets — such as brands, technology and customer relationships — are increasingly key to driving value creation as companies research new technologies, cultivate customer relationships, manage their workforce and more.
Intangibles are often unique, but that doesn't mean it's impossible to integrate intangible assets in reporting efforts. The lens through which we view a company affects how we measure success. A more complete picture contributes to a more unified understanding of value and, when used wisely, can act as a clear signal for action.
Head of German accounting watchdog to step down in wake of Wirecard | WIN 98.5 Your Country |
FRANKFURT (Reuters) - The head of Germany's accounting watchdog, under fire for failing to spot wrongdoing ahead of the collapse of the payments company Wirecard, is stepping down.
The agency, formally known as the Financial Reporting Enforcement Panel (FREP), said in a statement on Wednesday that President Edgar Ernst is leaving his post at his own wish, effective Dec. 31.
Ernst has also come under criticism for potential conflicts of interest because he held seats on supervisory boards of major corporations, including real-estate company Vonovia, retailer Metro and tour operator TUI.
Former COO Of Publicly Traded Biopharmaceutical Company Sentenced For Accounting Fraud |
Manhattan U.S. Attorney Strauss said: "William Taylor and his co-defendant used secret agreements and corrupt financial inducements to materially misstate quarterly and annual sales revenue of MiMedx. They deceived the SEC, auditors, and the investing public. Now Taylor, like Parker Petit yesterday, has been sentenced to prison for his crimes."
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One of the most critical financial metrics disclosed in MiMedx's public filings with the Securities and Exchange Commission ("SEC"), and touted in MiMedx's accompanying press releases, was MiMedx's quarterly and annual sales revenue.
Other things to check out:
Hedge Accounting For Interest Rates: 'Blend & Extend' Strategy | Opportune LLP - JDSupra
Interest rates are once again near zero , leaving companies that hedged their variable rate exposures in higher interest rate environments with significant derivative liabilities and large, near-term cash payments needed to settle these derivative liabilities. All this comes while many companies are looking to minimize near-term cash spend in the current environment.
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This has left some to consider a “blend and extend” strategy, which results in reducing near-term cash spend to settle derivatives while simultaneously extending the duration of their hedge coverage.
FINCAD Launches Accounting CVA Services for Japanese Financial Institutions
FINCAD, a pioneer in providing pricing, modeling, and risk analytics, today announced it has launched a new cloud-based service, enabling Japanese financial institutions to evaluate, account for and report credit valuation adjustments (CVA) and debit value adjustments (DVA) to meet Japanese accounting standards, which become effective April 2021 with first reporting due in June 2021.
Utilizing FINCAD's next-generation analytics, FINCAD CVA Services will allow Japanese banks of any size and complexity of portfolios to perform the required valuation adjustment calculations for their derivatives trades. Now banks can easily evaluate if they need to report CVA and provide accurate reports as needed to meet regulatory requirements.
Saasable is Chosen to Participate in Startup Accelerator Focused on Accounting Innovation
"We're working with the accelerator to learn more about how to sell into the accounting firm space and also to better refine our app. Saasable allows accountants and small-businesses to easily track their recurring revenue metrics. The app also helps accountants become valuable advisors to their clients," said Michael Ly , CEO of Saasable.
Accountants Can Honor Black History Month All Year
As Black History Month comes to a close, Enrolled Agent and the founder of G+F Business & Financial Consulting LLC Timothy L. Wingate Jr. reflects on some possible ways accounting professionals can encourage diversity and inclusion throughout the year.
Black History Month is important to recognize in February, but I also try to reflect on black history continuously throughout the year. I'm constantly celebrating and remembering the African Americans who paved the way to allow black entrepreneurs like me to dream of owning my own business.
Happening on Twitter
We need a full accounting of what has contributed to the crisis in Texas. Thank you, Joaquin and Julián. https://t.co/C1zGm35OfQ AlexPadilla4CA (from Los Angeles, CA) Fri Feb 19 19:30:30 +0000 2021
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