The critical tasks mentioned in the audit have been prioritized with action plans and schedules, Interim Town Administrator Charles Sumner told the Select Board at a meeting last week. "Our goal is to work on it daily," he said.
The audit received on May 3 indicated several weaknesses in the town's accounting practices. Powers and Sullivan gave 15 recommendations to correct the weaknesses, the most damaging of which was the material weakness in the cash reconciliation process. Monthly reconciliations between the treasurer's office, accounting office and the bank the town uses hadn't been done for more than a year, leaving the town vulnerable to theft.
Bitcoin on the Balance Sheet Is an Accounting Headache for Tesla, Others - WSJ
Elon Musk reignited his curious Twitter relationship with bitcoin on Sunday, giving the cryptocurrency a small boost.
More pertinent to Tesla Inc. shareholders, however, is the hit to the company's bottom line this quarter from Mr. Musk's sometimes hot, sometimes cool attitude toward bitcoin.
Mr. Musk is widely blamed by investors for starting the digital currency's most punishing slide of the year after announcing on Twitter that Tesla would stop accepting bitcoin as payment for its electric vehicles. He added fuel to the fire earlier this month, tweeting breakup memes with "#bitcoin" and a broken-heart emoji. Bitcoin had slumped 30% since the original May 12 tweet.
Accounting Today accepting 2021 MP Elite submissions | Accounting Today
The MP Elite report, which will be published in August, identifies and profiles approximately a dozen of the best leaders of public accounting firms of all sizes across the country. In a series of portraits of the most successful managing partners from small, midsized and large firms, the list identifies the qualities and characteristics that make a cutting-edge leader.
Candidates for the MP Elite must fulfill the role of firm leader, whatever their title — managing partner, managing shareholder, chief executive, president, etc. — of a U.S.-based public accounting firm with at least 15 staff members, and must have been in their position for at least four years.
Adams Brown wins two awards at Accounting Marketing Summit - GREAT BEND
Adams Brown, Strategic Allies and CPAs, received two national awards during the recent Association for Accounting Marketing (AAM) Summit.
One award was for integrated branding programs and recognized the firm's recent rebrand and above+beyond tagline showcasing its commitment to client service. The second award was in the collateral and content marketing category and recognized the firm's new brochure that emphasizes how the firm delivers on its brand promise.
SPAC IPO Market Slowly Resurfaces With Play-it-Safe Accounting
The blank-check companies that captivated Wall Street for a year are playing it safe with their accounting as the market slowly recovers from a financial reporting crackdown that halted initial public offerings.
The majority of the almost three dozen special purpose acquisition companies that went public since the Securities and Exchange Commission's market-jolting accounting announcement in mid-April are sticking to what they know: the same investor terms and incentives they used prior to the SEC's warning. This means less favorable accounting that produces swings in earnings.
AccuFund and Its Fund Accounting Software Celebrates 20th Anniversary
AccuFund began as an offshoot of the consulting business of founders Gordon Holfelder and Peter Stam . Holfelder began by creating a unique solution to custom-print checks for NASCAR race winners. He used the initial profits from this venture to move into software development, a bank reconciliation module for nonprofits.
The firm's leaders sensed a growing demand for specific fund accounting software and rolled all the add-ons into one comprehensive accounting platform that met the unique needs of nonprofit organizations and government entities.
IMA pushes back on CPA Evolution | Accounting Today
The Institute of Management Accountants is objecting to the possible elimination of management accounting from the future courses required for students pursuing a career in accounting.
The IMA is waiting to see what happens with the final curriculum. The IMA and the AICPA have had disagreements over the years after the AICPA and the Chartered Institute of Management Accountants jointly rolled out their Chartered Global Management Accountant designation in 2012 as a rival to the IMA's Certified Management Accountant credential, but the organizations have since worked together on a number of initiatives.
Junior in Accountancy and Philanthropic/Nonprofit Studies given prestigious Public Company
Erin Casolaro, a rising junior in the Harbert College of Business, is Auburn's ninth Public Company Accounting Oversight Board, or PCAOB, $10,000 scholarship winner.
Casolaro, who is double majoring in accounting and philanthropic and nonprofit studies in the College of Human Sciences, joins Harbert alums Katie Wiggins (2020-21), Makenzie Warnick (2019-20), Ben Seneker (2018-2019), Sarah Patrick (2017-18), Zach Blomeley (2016-17), Lauren Cleveland (2015-16), Brandon Steverson (2014-15) and Gabi Bailin (2012-13) on this prestigious list.
Art of Accounting: Deciding to start the process to sell your practice | Accounting Today
A longtime friend and colleague asked me how he could go about selling his practice. It dawned on me that most small firm owners who are considering retirement are not too familiar with how it works or how to get started. Here is some of what I told him.
Let's say you have a substantial practice with considerable value. You also have extremely high leverage with only two partners. I believe there would be many firms that would want to acquire your practice. However, while there are standard price ranges for a practice, there are many variables such as your geographic location, specialties, the types of clients you serve, how long you've had them, and the ages of the owners.
GoLocalProv | Former URI Professor of Accounting, Spencer J. Martin, Passes Away
Projo's Parent Co. CEO Compensation Bolstered to as Much as $20 Million —Projo's Parent Co. CEO…
East Providence Library to Open 2021 Weaver Farmer's Market —East Providence Library to…
American Image Around the World Strongly Recovers - Horowitz —American Image Around the…
“CEO Soak” is New Twist on ALS Ice Bucket Challenge in Rhode Island —"CEO Soak" is New…
No comments:
Post a Comment