KPMG International forecasts a slight increase in global GDP growth in 2025, followed by a dampening in 2026 due to the incoming U.S. administration’s expected policies. The December 2024 KPMG Global Economic Outlook reflects the continued geopolitical and economic uncertainty slowing down central banks efforts to return to sustainable growth.
Paul Atkins is President-elect Donald Trump’s choice to lead the Securities and Exchange Commission, suggesting four years of relaxed policy and enforcement for crypto firms to hedge funds. Trump selected Atkins to replace outgoing Chair Gary Gensler, whose ambitious plans focusing on climate-risk disclosures, crypto crackdowns and stock-trading regulations drew
Small business jobs growth remained steady in November, while workers’ wages grew only slightly, payroll provider Paychex reported Tuesday. The Paychex Small Business Employment Watch found hourly earnings growth of 2.97% and weekly earnings growth of 2.84% for workers. Job growth occurred in the areas in the Southeast affected by
The Financial Accounting Standards Board issued a proposed accounting standards update Tuesday to establish authoritative guidance on the accounting for government grants received by business entities. U.S. GAAP currently doesn’t provide specific authoritative guidance about the recognition, measurement, and presentation of a grant received by a business entity from a
Accountants are increasingly being asked to deal with sustainability issues as more businesses are called upon by investors to report on how they are dealing with issues like climate change and carbon emissions. This week, amid the United Nations COP29 climate change conference in Azerbaijan, business leaders have been playing
The Federal Reserve’s recent interest rate cuts are presenting CFOs with the opportunity to borrow money on more favorable terms for priorities like expansion or acquisitions. “We work with a lot of CFOs in the middle market space and we’re seeing a number of trends,” said Ro Sokhi, an audit
The National Taxpayers Union Foundation issued a report Friday saying that federal credit programs are costing taxpayers tens of billions of dollars more than estimated because the federal government isn’t using fair value accounting for loans. The report says that In FY 2025, total federal credit assistance is projected to
As the 2024 presidential election enters the homestretch, the accounting profession looks set to lean heavily toward voting Republican — though not quite as heavily as in previous elections, particularly at the presidential level. The research was conducted online among Accounting Today readers between Sept. 10 and Sept. 27; it
Megan Varner/Bloomberg CSX Corp. received a subpoena from the U.S. Securities and Exchange Commission focused on previously disclosed accounting errors and certain non-financial performance metrics. The subpoena asked the railroad company to produce documents about accounting mistakes CSX disclosed in its previous quarterly report, according to a regulatory filing on Thursday. The
Private sector employment increased by 143,000 jobs in September, while annual pay rose 4.7% year-over-year, payroll giant ADP reported. The ADP National Employment Report, released last Wednesday, found that the service-providing sector added 101,000 jobs last month, including 20,000 in professional and business services such as accounting and tax preparation.