News

Tax

IRS Alerts Foreign Banks about a New FATCA-Related Scam

The tax agency on Wednesday warned foreign financial institutions of a "phishing" scam in which fraudsters posing as the IRS are trying to solicit account-holder identity and financial account information under the new US law.
Tax

NJ Senator Aims to Tackle Football Tax Break

Sen. Booker would remove the NFL's tax-exempt status, but it may not be a touchdown. Still, it's kicked off numerous discussions and press coverage—just in time for football season, too.
A&A

Bramwell’s Lunch Beat: GOP Miffed Over Lois Lerner Interview

The menu for Sept. 24 features specials on SASB issues new standards for transportation sector, Bill Clinton won’t call inversions “unpatriotic,” Tesco fast-tracks new CFO, CohnReznick and Watkins Meegan to combine, and more.
A&A

Auditing Special Purpose Frameworks: Auditing Property and Equipment

Property, plant, and equipment are recorded under the FRF for SMEs in a similar manner to U.S. GAAP—that is, at acquisition costs. These costs include purchase prices and more.
A&A

The Finance Pro's Role in Natural Capital Accounting

A report recently identified the five ways that CFOs and management accountants can support the adoption of natural capital accounting in their organizations.
Tax

How to Time Itemized Deductions

Savvy tax planning is about more than knowing what to write off. Just as essential is knowing when. Choosing one tax year as opposed to another bears directly on how much winds up with the IRS.
A&A

Bramwell’s Lunch Beat: Treasury Reveals Plan to Curb Inversions

The menu for Sept. 23 features specials on Tesco’s accounting woes, IRS doled out more than $5 billion in tax refunds to fraudsters in 2013, SEC announces largest-ever whistleblower award, and more.
Education & Careers

How Corporate Finance Got Its Groove Back

Take a step back from GAAP. For senior managers in corporate finance, the word of the day is "agile." Today's finance leaders are no longer in the back office, but are helping companies grow. Companies that embrace financial best practices lead in other areas as well.
A&A

PCAOB Urges Auditors to Follow Standards on Going Concern

In a staff audit practice alert issued on Monday, the US audit regulator reminded auditors that they should continue adhering to the board’s existing standards when considering an organization’s ability to operate as a going concern.
Tax

2014-15 Per Diem Rates for Travel Expenses Set by IRS

The IRS has announced the special per diem rates for substantiating certain business expenses taxpayers incur when traveling away from home in 2014 and 2015. The new per diem rates go into effect Oct. 1.
Practice

Key Tax Considerations of Sending Employees Overseas

Because of global expansion, the challenges of sending employees abroad are now worthy of executive-level attention. International assignments come with a host of business implications, and tax is a top consideration.
Education & Careers

Nonprofit Accounting: It's Not for Wimps

If you're a CPA with a bent for do-gooding, consider nonprofit accounting. It's a growing area with a lot of variety, but be prepared to roll up your sleeves: nonprofit doesn't mean non-stress.
A&A

Bramwell’s Lunch Beat: Auditor Naming Plan Sparks Debate

The menu for Sept. 22 features specials on Lois Lerner breaks her silence, a roundup of last week’s IRS technical guidance, two Senate Democrats propose exit tax for inverting companies, and more.
Education & Careers

Why You're Completely Wrong about How You Hire

For accounting majors, fall means recruiting season. They will probably be interviewed and evaluated—and these interviews and valuations will probably fail to achieve their purposes.
A&A

The 6 Questions for Understanding Cybersecurity

Cybersecurity is no longer merely an IT concern. Accountants and financial managers may have been thinking it's just the province of the tech guys, but now it's a financial issue as well.
A&A

Bramwell’s Lunch Beat: Here’s Some 2015 Tax Year Projections

The menu for Sept. 19 features specials on John Boehner says fixing “the whole tax code” is a top GOP priority, Senate passes short-term extension of Internet Tax Freedom Act, the 20 most overrated things in accounting, and more.
Practice

10 Things to Consider Before Referring a Financial Advisor

By referring an advisor, you can help your clients, many of whom need professional advice. But how can you know when the financial advisor you are referring is competent and ethical?
Practice Development

Accountants Use Their Skills in Divorce Arena

The fallout from divorce can wreak financial havoc long after the dust in the courtroom has settled. Accountants can help both parties move forward, thanks to their unique knowledge and skills.
A&A

Bramwell’s Lunch Beat: Supersized IRAs Under Scrutiny

The menu for Sept. 18 features specials on ex-DOJ tax head Kathryn Keneally has a new gig, Treasury Secretary Jack Lew says action on inversions coming “very, very soon,” dissecting the OECD’s recommendations, and more.
Education & Careers

Communication Styles: Embracing Differences

Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.

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