FASB proposed a new accounting standard Wednesday that is designed to better align hedge accounting with an organization's risk management strategy.
The proposal would expand the current single-layer hedging model to allow multiple-layer hedges of a single closed portfolio of prepayable financial assets or one or more beneficial interests secured by a portfolio of prepayable financial instruments under the method.
FloQast releases accounting coloring book and guided meditation ahead of Tax Day | Accounting
"The World's Greatest Accounting Coloring Book That You Never Knew You Needed" portrays various moments in accounting history, including the introduction of double-entry bookkeeping by Italian mathematician Luca Pacioli, the tax evasion sentencing of gangster Al Capone, and lesser-known events like the creation of bubble gum by accountant Walter Diemar, the early accounting careers of rock stars Mick Jagger and Robert Plant and actor Randolph Scott, and the brief NHL career of accountant
Pathways to Growth: Walking the walk on consulting | Accounting Today
To judge by the number of blog posts and articles I'm seeing on the topic of consulting these days, you might think advisory services have been widely embraced by accounting firms. But in fact, lots of talk has not materialized into lots of action. While firm leaders increasingly recognize the potential of consulting, that has not translated into engagements. In fact, consulting revenue still makes up less than 20 percent of average mid-market firm revenue.
Stay On Top of Your Side Hustle's Accounting With This Invoicing Tool
Small to medium businesses don’t always have the luxury of having dedicated departments in charge of processing invoices and balancing the books. The burden lies on the owner, who juggles multiple in-house tasks.
But things don’t always have to be this way. If you happen to run operations and are struggling to stay on top of crunching numbers , you can always turn to automation to lift the load off your shoulders. The Invoice Crowd platform is specifically designed to help make every aspect of invoicing easier. It operates under the idea of transferring data and maintaining a paperless environment.
CONSULTANT FINDS “GROSS NEGLIGENCE” IN CITY H.R. ACCOUNTING | 1330 & 101.5 WHBL
Consultant firm CliftonLarsonAllen, LLP, has found what it describes as "gross negligence" with regard to the design and execution of process and controls over financial reporting in the City of Sheboygan's Human Resource Department.
In its findings, the consultant said that HR personnel weren't able to provide details related to the overall transactional completeness and accuracy of claims, premiums, benefits, and other contractual liabilities related to current and retired employees, and identified a specific "High Risk Finding" in which City finance personnel were unaware of some of the relationship between Payroll and Benefit transactions and the corresponding financial reporting.
Health commissioner says Allen County unlikely to reach herd immunity | WANE 15
FORT WAYNE, Ind. (WANE) – The latest numbers show that children are accounting for more new COVID -19 cases than at any other time during this pandemic.
“We are seeing many more cases in children and young adults,” said Allen County Health Commissioner Dr. Matthew Sutter. “That’s what we saw in Michigan and we’ve been seeing that in Indiana also.”
Children now account for about 22 percent of new coronavirus cases in states that release data age, according to the American Academy of Pediatrics. Just one year ago, child COVID-19 cases made up only around 3 percent of the U.S. total.
What Is the Difference Between Bookkeeping and Accounting? | Dailybio News
Bookkeeping encompasses organising and recording financial information, while accounting involves taking the data, summarising it, analysing, consulting and reporting. This blog will outline the differences that exist between accounting and bookkeeping in detail so that you can tell them apart.
An accountancy firm is tasked with the work of assessing and interpreting the financial data of a particular company and reporting on it. For this reason, it’s worth noting that an accountant has greater skill sets compared to a bookkeeper. A bookkeeper has the primary responsibility of handling the recording of financial transactions of a company. An accountant has to hold a certification or degree in CPA. Moreover, his/her salary is better than that of a bookkeeper.
Draft audit finds gaps in Wallkill accounting procedures
The town of Wallkill's accounting department needs to formalize its policies and procedures and do a better job separating job duties to reduce financial risks. Those are just a few of the findings of a recent organizational audit.
Wallkill's plans to hire a deputy comptroller or senior accountant to help with the workload could be important to resolving the problems, according to the audit.
The Town Board reviewed a draft of the audit at its April 28 work session; a final copy was issued on Friday. Supervisor Frank DenDanto III and Councilman Neil Meyer had pushed for the audit after months of Town Board wrangling over late financial reports, hires made without formal board resolutions, and the discovery that a $10,000 vehicle lease included a vendor contract that never got funded in the budget.
What a global talent pool means for management accountants | Accounting Today
Each year on May 6, those of us in the finance profession recognize management accountants across the globe. This International Management Accounting Day is especially poignant, coming after one of the most disruptive and challenging years for businesses in modern history, and we should all take the time to appreciate the hard work, dedication and tenacity of those prevailing through the pandemic.
The crucial role of management accountants has not changed, but the global talent pool from which companies recruit them has undergone an immense transformation over the past year. Thanks to mass remote work, which will likely continue in some form once the pandemic is over, the job market is no longer local, regional or even national. With companies announcing office closures and hiring remote employees, talent no longer has borders.
The Next Step in Your Modern Accounting Journey - Tech Wire Asia
Over the last eighteen months, Chief Accounting Officers around the world have been operating as head of their organization’s financial function, a role that has been central to weathering the pandemic storm.
Few companies have benefited from the effective shutdown of many global businesses, and in some cases, the most achievable goal has been staying afloat. Far too many companies have been forced to pull down the shutters in 2021 and the early part of 2021.
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