Accounting

As part of its Tax in 2020 initiative, Deloitte has introduced Immersive Mobility, a virtual reality-driven service that helps orient transitioning employees to new locations. The new offering is designed to reduce the financial and environmental costs of relocation. Immersive Mobility offers 360-degree city tours, virtual home tours, onboarding, and mixed-reality training combining virtual reality,
0 Comments
PricewaterhouseCoopers is adding a third external director to its board, former SEC commissioner Troy Paredes, and establishing an Assurance Quality Advisory Committee where the firm will bring in more outside voices to help improve its audits. Paredes (pictured) will be joining two other outside directors whom PwC added to its board in 2017: former Commerce
0 Comments
Spook central; short of a grand; a low bar; and other highlights of recent tax cases. Mansfield, Texas: Innocent Wangwamba, 36, a Zambian national who operated a scheme to steal U.S. taxpayer IDs and fraudulently claim refunds, has been sentenced to 97 months in prison. Wangwamba, who pleaded guilty last year, admitted that from February
0 Comments
The Internal Revenue Service is confronting challenges with administering and ensuring compliance with the business provisions of the Tax Cuts and Jobs Act, although it has made a considerable amount of progress in implementing them, according to a new government report. The report, from the Government Accountability Office, noted that the 2017 tax overhaul was
0 Comments
Elliott Davis, a Top 50 Firm based in Greenville, South Carolina, is celebrating its centennial this year as it expands its advisory services in the cyber area to meet the challenges of its next 100 years. The firm started in Boston and originally focused on the textile industry, according to the Greenville Journal. It relocated
0 Comments
Intuit Inc., the software giant behind TurboTax, is buying personal finance website Credit Karma Inc. for about $7.1 billion in cash and stock. The transaction is expected to “be neutral to accretive” to Intuit’s adjusted earnings per share in the first full fiscal year after the transaction closes, the company said in a statement Monday.
0 Comments
Lisa Tenore (pictured) was appointed partner-in-charge of the trade remedies, forensics, litigation and valuation services practice in the advisory services group at Marks Paneth, New York. Jonathan Milles was promoted to manager in the business valuation division, and Jonathan Urban was promoted to director of software solutions in the nonprofit technology division, at Brisbane Consulting
0 Comments
GEORGIA The American Accounting Association announced it will be inducting five new members into the Accounting Hall of Fame in August 2020 during the AAA’s annual meeting in Atlanta. Those members are: Victor Zinn Brink, “the face of internal auditing for half a century;” Robert Mednick, “a key figure in tort reform initiatives, convergence to
0 Comments
The Governmental Accounting Standards Board is proposing to enhance the disclosures made by state and local governments with their financial statements. On Friday, GASB issued a proposed concepts statement with the goal of providing improved guidance for when it establishes note disclosure requirements for state and local governments. When they’re finalized, the concepts could be
0 Comments
The Federal Accounting Standards Advisory Board staff has released a technical bulletin in an effort to clarify the loss allowance standards for accounts receivable and related recognition standards and reporting. Technical Bulletin (TB) 2020-1, Loss Allowance for Intragovernmental Receivables, clarifies that the recognition of losses, provided in paragraphs 40-52 of SFFAS 1, “Accounting for Selected
0 Comments
GBQ Partners LLC, a firm based in Columbus, Ohio, has added Weber Clark Ltd., a firm in Toledo. Weber Clark was founded in 1980 and the merger will extend its footprint to Toledo. “GBQ is excited to expand in Toledo and welcome the staff and clients of Weber Clark,” said GBQ managing director Darci Congrove
0 Comments
My company sells five different customer relationship management applications, and we currently serve about 600 clients using these applications. I’ve gotten pretty good at being able to identify prospective clients that have a good chance of success. So can you guess my reaction when a CPA firm approaches me about a potential CRM solution? It’s
0 Comments
EZ out; Totaled; to the cooler; and other highlights of recent tax cases. Savannah, Georgia: A federal court has enjoined Andrea Nadel and her business, EZ Accounting & Tax Service, along with Estelle Nadel, from preparing federal returns for others. According to the complaint, the Nadels and EZ prepared federal income tax returns that reported
0 Comments
The Association of Chartered Certified Accountants and the Institute of Management Accountants released a report Wednesday on some of the major long-term issues affecting the world economy. The Global Economic Themes Report discusses various aspects of the world economy, including Europe, China, America, and the U.S. vs. China trade war. In the U.S., the report
0 Comments