The job market slowed down considerably this summer, as employers added only 73,000 jobs in July, the U.S. Bureau of Labor Statistics reported Friday, far short of expectations. The BLS sharply revised downward the number of jobs added in May and June and the unemployment rate ticked up to 4.2%.
Confidence among accountants and financial professionals around the world ticked up slightly in the second quarter of the year, the first increase since the middle of last year, according to a survey released Tuesday by the Association of Chartered Certified Accountants and Institute of Management Accountants. However, overall sentiment remains
A public inquiry into the wrongful prosecutions of about 1,000 postal workers has uncovered more victims than previously known, according to a report.
Private sector employers cut 33,000 jobs in June, the first decline in over two years, while annual pay grew 4.4% year-over-year, payroll giant ADP reported Wednesday. The professional and business services sector, which includes accounting and tax preparation, lost 56,000 jobs in June, while the financial activities sector, which includes
Enjoy complimentary access to top ideas and insights — selected by our editors. The Governmental Accounting Standards Board is juggling a variety of projects to improve accounting for state and local governments as they come under pressure from the threat of reduced funding from the federal government. “If you’d asked
The Securities and Exchange Commission appointed Kurt Hohl, a former partner at Ernst & Young, as its new chief accountant, effective July 7. Acting chief accountant Ryan Wolfe will be returning to his role as chief accountant in the Division of Enforcement. Hohl has close to 40 years of accounting
(Left to right) EY partner Mark Kronforst, SEC acting chief accountant Ryan Wolfe and FASB chair Richard Jones at the Financial Executives International and USC Leventhal conference. The Securities and Exchange Commission is already making plans in the event that the massive tax bill now moving through Congress ends up
Even as accountants worry about a host of pressing issues, there are strong reasons to be optimistic about the future of the profession, according to Mark Koziel the president and CEO of the American Institute of CPAs. “We’ve had issues coming at us for decades, and in each and every
The accountant the world urgently needs has evolved far beyond the traditional role we recognized just a few years ago. The transformation of the accounting profession is not merely an anticipated change; it is a pressing reality that is currently shaping business decisions, academic programs and the expected contributions of
Spring enrollment for undergraduate accounting majors rose 11.3% year-over-year to 188,571 students, a report found, making it the second consecutive annual increase. The National Student Clearinghouse Research Center published the latest edition of its Current Term Enrollment Estimates series, which provides final enrollment estimates for the fall and spring terms.