The Financial Education & Research Foundation (FERF) spoke with Deloitte’s Principal, Risk and Financial Advisory Practice Tim Davis, Deloitte Partner, US Audit & Assurance Blockchain & Digital Assets Partner Amy Park, and Deloitte Partner, Global & US Tax Blockchain & Digital Assets Leader Rob Massey about the accounting and tax considerations when a company invests in cryptocurrencies or chooses to use it in its business.
Lordstown to restate 2020 results after SEC guidance on SPAC accounting | WTVB | 1590 AM · 95.5
(Reuters) – Electric pickup truck maker Lordstown Motors Corp said on Tuesday it would restate its previously issued 2020 consolidated financial statements, citing recent guidance from the U.S. Securities and Exchange Commission on accounting by special purpose acquisition companies.
The regulator in April issued guidance which called into question whether warrants issued by hundreds of SPACs could be considered equity instruments. The guidance suggests that many SPACs may have to refile their financial statements to account for the warrants as a liability.
Real estate accountants face pandemic challenges | Accounting Today
Accounting for real estate owners has become more difficult since the pandemic broke out last year as tenants stopped paying rent, rules changed for leases, and unused office space proliferated.
In terms of asset impairment, the novel coronavirus pandemic would seem to qualify as a triggering event as it led to widespread losses and business closures last year across the country. A triggering event can be an event or set of circumstances resulting in losses, decreased cash flow, decreased occupancy, expiring leases or a deterioration in the environment in which an entity operates.
Tide Teams up with Sage to Streamline Small Business Tax and Accounting
Digital experience designed around small businesses will provide relevant, timely insight and take the worry out of tax compliance
Sage, the market leader in cloud business management solutions and Tide, the UK's leading business financial platform, today announced a new partnership, offering a tightly integrated banking and accounting product for Tide members.
Designed for people taking their first steps towards making their business dreams a reality, the partnership will provide UK self-employed and business owners with a new product that combines banking and accounting – all in a single digital environment.
FundCount Wins Best Accounting Solution at Family Wealth Report Awards
BOSTON , May 11, 2021 /PRNewswire/ -- FundCount, LLC, a worldwide provider of accounting and investment analysis software, today announced that it was named Best Accounting solution at the 8 th Family Wealth Report awards. These annual awards recognize the most innovative and exceptional firms serving the family office, family wealth management and trusted advisor communities in North America .
A judging panel comprising industry experts from family offices, private banks, consulting firms and other service providers selected the category winners based on qualitative benchmarks and quantitative supporting metrics. The judges noted the resilience and remarkable customer care the winning firms demonstrated during 2020.
Japanese Megabank Works with Oracle to Modernize Accounting Systems | State | elpasoinc.com
AUSTIN, Texas, May 11, 2021 /PRNewswire/ -- Sumitomo Mitsui Financial Group, Inc. (SMBC Group) has selected Oracle Fusion Cloud Enterprise Resource Planning (ERP) to consolidate accounting functions as part of its efforts to streamline business processes. SMBC Group will implement its shared services across its group companies.
"We decided to modernize accounting operations as part of our business and IT transformation to further accelerate efficiencies and enhance group management. This is a very complex project, but we believe that we can make it a success by utilizing the superior functionality and scalability of Oracle Cloud ERP.
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CleanBay Renewables Working with Third-Party Expert to Refine Emissions Accounting Framework for
The Reserve, the premier carbon offset registry for the North American market, will initially focus on quantifying the emission reductions from the conversion of agricultural byproducts, like poultry manure, into controlled-release fertilizers. The team will also establish mechanisms to calculate the displacement of fossil transport fuels through the use of agriculture-derived renewable natural gas.
"Through The Reserve's independent analysis, we are confident that our process to create renewable natural gas and controlled-release fertilizer from poultry litter will prove to be a sustainable solution to our country's emissions challenges," said Thomas Spangler, CleanBay's Executive Chairman.
EDF, State Water Agencies and California Water Data Consortium Partner on Groundwater Accounting
(SACRAMENTO – May 11, 2021) Environmental Defense Fund (EDF), state water agencies and the California Water Data Consortium (Consortium) announced a new partnership today to make an open-source groundwater accounting platform freely available to help groundwater sustainability agencies manage the transition to sustainable supplies.
Collaborative efforts are underway among the Department of Water Resources (DWR), the State Water Resources Control Board (Water Board), the Consortium and EDF to adapt and scale the groundwater accounting platform that was co-developed by EDF and Rosedale-Rio Bravo Water Storage District with technical support from Sitka Technology Group, OpenET, WestWater Research, and Olsson Engineering and funding from the Water Foundation, among other supporters.
Happening on Twitter
#Chicago taxpayers face a much higher unfunded tax burden than those living in any of the nation's other most popul… https://t.co/5tW0CVOKy7 EpochTimes (from New York, USA) Tue May 11 23:55:01 +0000 2021
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