Saturday, August 7, 2021

Embrace continuous accounting to close the monthly books faster | Accounting Today

Accounting teams always welcome a way to speed up the monthly close process, but it's difficult with so many moving parts to account for.

Most organizations are early in their adoption of continuous accounting principles.

Publisher: Accounting Today
Date: 2021-08-06T15:37:21.466
Author: https www accountingtoday com author oded zehavi
Twitter: @AccountingToday
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Employers added 943K jobs in July, including 8.4K in accounting | Accounting Today

Employment increased by 943,000 last month, beating expectations, including 8,400 jobs in accounting and bookkeeping, while the unemployment rate fell from 5.9 to 5.4%, the U.S. Bureau of Labor Statistics reported Friday.

Despite the job gains, the unemployment rate remains above where it was prior to the COVID-19 pandemic last year, when it was 3.5%.

Publisher: Accounting Today
Date: 2021-08-06T15:13:56.884
Author: https www accountingtoday com author michael cohn
Twitter: @AccountingToday
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Innovative approaches to accounting tests and quizzes - Extra Credit

In academia, closed-book exams under the eye of a watchful proctor have long been the norm for tests and quizzes. But some accounting faculty are shaking up that model by developing creative new approaches to assessments.

The unusual tests and quizzes they've devised are, in some ways, a response to the times. Now that students have widespread and speedy access to information, memorizing facts has become less meaningful.

Publisher: Journal of Accountancy
Date: 2021-08-10T12:00:00.000-04:00
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Letter to the editor: Freeze the infrastructure effort and provide honest accounting | Winchester

I was appalled to read in this morning's Washington Post that the "Senate infrastructure deal would add hundreds of billions of dollars to the deficit" according to the authoritative CBO. This is utterly disgraceful.

Once again in this administration, "Voodoo Economics" and fraudulent accounting are being used to "pretty up a pig." Why on earth are the Republicans accepting this fiscal irresponsibility and financial "house of cards?

Publisher: The Northern Virginia Daily
Author: I was appalled to read in this morning s Washington Post that the Senate infrastructure deal would add hundreds of billions of dollars to the deficit according to the authoritative CBO
Twitter: @nvdaily
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Former Enron Adviser Praises 'Accounting Gimmicks' - WSJ

These days truth seems to be getting much stranger than fiction. Now a former adviser to Enron, which collapsed in an infamous 2001 accounting scandal that sent various of the firm's executives and bankers to prison, has published an astounding endorsement of "budget chicanery."

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Publisher: WSJ
Date: 2021-08-06T16:04:00.000Z
Author: James Freeman
Twitter: @WSJ
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Bloomberg Tax & Accounting enters income tax provision space | Accounting Today

Bloomberg Industry Group has acquired Tax Prodigy's software, which calculates income tax related elements of financial statements. The product will be folded into Bloomberg Tax & Accounting's offerings, and four members of Tax Prodigy will join Bloomberg to manage the new software.

Publisher: Accounting Today
Date: 2021-08-06T15:39:20.214
Author: https www accountingtoday com author ranica arrowsmith
Twitter: @AccountingToday
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What Is Payroll Accounting? - businessnewsdaily.com

Payroll accounting systems ensure that you not only keep careful track of your payroll expenses, but also comply with local, state, and federal employment laws and don't run afoul of any tax rules.

Without payroll accounting, you can't get an accurate view of the total cost of your employees.

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Publisher: Business News Daily
Twitter: @BNDarticles
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Become an FT subscriber to read | Financial Times
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Twitter: @FinancialTimes
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