Wednesday, July 7, 2021

New lease accounting standards come with plenty of gotchas | Accounting Today

The recent leasing rules from the Financial Accounting Standards Board and the Governmental Accounting Standards Board are turning out to be harder to follow than many organizations expected.

Not only do the new leases standards, FASB's ASC 842 and GASB's Statement No. 87, require entities to put operating leases on the balance sheet for the first time ever, but they come with extra complexities.

Publisher: Accounting Today
Date: 2021-07-06T21:21:09.748
Author: https www accountingtoday com author michael cohn
Twitter: @AccountingToday
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This Accounting Change Could Drastically Impact Cannabis Companies' Profitability

Whether a cannabis company reports a profitable quarter or not can sometimes have a lot to do with nonoperating-related items. Impairment losses, fair-value gains, and income related to investments can easily pull a company's bottom line into many different directions.

It may not be an interesting topic to discuss whether a company uses U.S.

Publisher: _____
Date: 2021-07-07T07:38:00-04:00
Author: David Jagielski
Twitter: @themotleyfool
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Deloitte Foundation partners with Ohio State University for diversity scholarship | Accounting

The Deloitte Foundation has announced a need-based scholarship fund to aid with tuition costs for diverse students who are pursuiing professional services careers, in collaboration with Ohio State University and its Max M. Fisher College of Business.

A fund of $180,000 was raised through contributions from Deloitte professionals who are Ohio State alumni and Deloitte Foundation matching gifts.

Publisher: Accounting Today
Date: 2021-07-07T14:47:03.014
Author: https www accountingtoday com author sean mccabe
Twitter: @AccountingToday
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A year on from Wirecard collapse, Germany still losing fight against accounting scams, tax
Publisher: Fortune
Reference: (Read more) Visit Source



Group of senators urge FERC to amend accounting rules on trade group dues | S&P Global Platts

In this episode of the S&P Global Platts Agriculture Focus podcast, the Platts EMEA Agriculture team...

The extreme volatility and unpredictable changes in the Asian ferrous scrap market over the year and...

Iraq's total oil production, including flows from the semi-autonomous Kurdistan region, fell...

Date: 2021-07-06T19:59:00
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Amplify your accounting services by becoming fluent in a foreign language | Accounting Today

Most people in the workforce need to meet with accountants every year to handle their taxes. In addition, small-business owners who don't have an in-house bookkeeper need to find the right accountant who can keep their enterprise's financial health in order.

Publisher: Accounting Today
Date: 2021-07-06T14:47:22.955
Author: https www accountingtoday com author ray blakney
Twitter: @AccountingToday
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Xero celebrates 15 years, launches 'Xero Day' | Accounting Today

June 6 was the first annual Xero Day, which the accounting software company launched for its 15-year anniversary. The day will be marked annually with celebrations for the people, customers, partners and communities who have played an important role in Xero's success.

Publisher: Accounting Today
Date: 2021-07-07T15:58:21.482
Author: https www accountingtoday com author ranica arrowsmith
Twitter: @AccountingToday
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Misleading Budget Accounting In The Department Of Defense Needs Correction

Take a quick look at the Department of Defense (DOD) budget request for fiscal year (FY) 2022, and you would think that the Department of the Air Force is the best funded of the three military departments —Army, Navy, Air Force. You would be wrong.

In fact, the Pentagon invests the least real service budget authority in the Air Force compared to the Army and Navy as services and all the other defense agencies as a group. Only the U.S. Marine Corps and nascent U.S. Space Force as services receive less.

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Publisher: Forbes
Date: 2021-07-06
Author: Dave Deptula
Twitter: @forbes
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EisnerAmper adds tech firm ZenTek Data Systems | Accounting Today

EisnerAmper, a Top 25 Firm based in New York, merged in ZenTek Data Systems, a technology consulting firm headquartered in Fort Lauderdale, Florida, effective June 1.

ZenTek was founded in 2014 and provides enterprise security, cloud technology and strategic management services to clients around the country. Financial terms of the deal were not disclosed. EisnerAmper ranked No.

Publisher: Accounting Today
Date: 2021-07-07T15:48:03.823
Author: https www accountingtoday com author michael cohn
Twitter: @AccountingToday
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