That’s why the Rhode Island Society of Certified Public Accountants is offering free assistance to business owners who need it.
Melissa Travis, the CEO of the organization, believes they are the first in the nation to offer free assistance to businesses. The idea came after businesses were left scrambling during the pandemic.
“It is heart breaking when you talk to a business owner and you learn they have left money on the table,” she said.
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Patriot Announces One-Click Settings for Faster and Easier Accounting Onboarding
Patriot Software's newest feature updates focus on simplifying new accounting software users' onboarding, so they are up and running in the accounting software as quickly as possible.
Through Patriot's trial balance import, new accounting customers can export their trial balance report from their former software and upload it into Patriot's Accounting Setup Wizard. If necessary, Patriot walks customers through any field adjustments. Patriot auto-maps accounts where possible. If customers have non-matching accounts, Patriot helps customers map accounts or add new accounts.
FASB OKs goodwill alternative for private cos., nonprofits | Accounting Today
The Financial Accounting Standards Board approved a tweak to the goodwill rules for private businesses and not-for-profits, giving them more flexibility on when to do impairment assessments of triggering events.
FASB voted to approve the goodwill triggering event alternative during a virtual board meeting last week, giving privately held companies and nonprofit organizations the ability to put off doing an impairment assessment until they have to prepare an annual report, instead of needing to monitor and measure such events throughout the year. Entities won't be required to provide incremental disclosures as a result of the final amendments that are coming out from FASB.
Accountants could save the planet while helping businesses flourish | Accounting Today
Few film directors would cast an accountant in the role of planetary savior. But accountants across the world must now take a pivotal role in tackling the climate emergency, while guiding businesses through an age of unprecedented change. This is because adaptation of zero-carbon business practices is now quite literally a do-or-die imperative for business and the planet alike, and these new ways of working will differ significantly from those of the past.
Past financial performance is therefore no longer a sufficient guide to economic viability, and additional information is needed to understand environmental and social impact. And that's where accountants come in.
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Purolite Adds to Its Lawsuit Against Accounting Firm Citrin Cooperman and Its Principals for
Purolite Corp. ("Purolite") and its principals, Stefan and Don Brodie, today added a claim for negligent misrepresentation to its extensive complaint against its former accounting firm Citrin Cooperman & Company, LLP ("Citrin"), its co-founder and CEO, Joel A. Cooperman, and several of its principals.
Citrin falsely represented to Purolite that it had completed and filed all required returns with governmental entities, when in fact, Citrin never filed corporate returns for tax years 2013 through 2017 and failed to properly file required tax forms for Purolite's foreign affiliates from 2010 through 2017.
Global Financial Accounting System Market 2021 Key Players, Demands, Trends, Growth, Size, Share
This report presents a comprehensive overview, market shares, and growth opportunities of Financial Accounting System market by product type, application, key manufacturers and key regions and countries.
Segmentation by type: breakdown data from 2016 to 2021 in Section 2.3; and forecast to 2026 in section 10.7.
– Embedded Accounting Software Packages
– Online Solutions Accounting Software
– Desktop Non-embedded Solutions Accounting Software
Jacobs calls for accounting of unspent COVID relief funds | The Batavian
Congressman Chris Jacobs (NY-27) has cosponsored legislation to require the President to provide a complete account of enacted but unspent COVID-19 funds.
"As Democrats move forward with their unilateral approach to force through a massive $1.9 trillion relief package, I believe it is imperative to know how much funding has already been enacted but remains unspent. That figure could be as high as $1 trillion.
"I agree that more federal assistance is needed to overcome COVID-19, especially for bolstering vaccine distribution, reopening schools, and supporting struggling local governments. However, we need to be targeted and fiscally responsible with our approach to avoid unnecessary spending and costly programs that do not address urgent problems.
Q&A with AU accounting professor offers tax tips for filing season | News |
Auburn University Professor Kimberly Key provides information on tax preparation, tax laws and the effect of COVID-19 stimulus checks. She serves as the PWC Professor of Accounting in Auburn University's Harbert College of Business.
Question: How might tax preparation be different this year? Should we expect an influx of people using online services rather than the traditional brick-and-mortar methods?
Happening on Twitter
This brilliant profile makes me think Nikki Haley will be eaten alive by her own party. No one can sit on the fence… https://t.co/UPucz00Rca anneapplebaum (from Warsaw, London, Washington) Sun Feb 14 16:36:26 +0000 2021
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