Opinions expressed by Entrepreneur contributors are their own. Here’s an example: Alex owns a custom framing store with low prices — just above cost — to attract customers. Volume helped keep the cash coming in. One wall of the shop was devoted to artist’s paintings, for which Alex received a
The 150-hour rule for obtaining a CPA license is getting blamed in many quarters lately for the shortage of accountants, but another culprit may be the proliferation of complicated accounting standards, according to a recent academic study. The study, released last December, examined the role that accounting rules from the
The 150-hour requirement for obtaining a CPA license has led to a decline in Black and Latino CPAs of up to 26%, according to a research study. The study, released last month, also found a 13% greater entry decline following the requirement’s enactment for minority than nonminority CPA candidates by
The Treasury Department’s Financial Crimes Enforcement Network hopes to deter money laundering in the residential real estate industry with a newly proposed rule. On Wednesday, FinCEN issued a Notice of Proposed Rulemaking that would require some professionals engaged in real estate closings and settlements to report information to FinCEN about
The Illinois CPA Society and its affiliated CPA Endowment Fund of Illinois have begun accepting scholarship applications for the 2024-2025 academic year. They will be giving out over 40 scholarships ranging from $1,000 to $4,000 each to accounting students attending Illinois-based colleges and universities. To be eligible, applicants have to
Opinions expressed by Entrepreneur contributors are their own. The question is: Which industry is poised to meet the demand for this generational workforce that longs not only for financial freedom but also for that coveted location-freedom as well? The answer might surprise you. Across the country, the surge in demand
South Korea’s Kakao Corp. is investigating the financial practices of SM Entertainment Co. after it took a controlling stake in the K-pop pioneer, adding another chapter to a drama that has captured the attention of the nation’s business leaders. Kakao, an internet and messaging powerhouse, has hired a law firm
The International Federation of Accountants has published a review of some of the most helpful research done by academics, accounting organizations and firms over the years on the role that accountants are increasingly playing in sustainability reporting and assurance. The report examines a number of papers produced by researchers on
Are you trying to restore a QuickBooks backup file and are unable to do so? Don’t worry; below, we have provided a comprehensive guide that will help you restore a backup file quickly. Creating backup files in QuickBooks is an essential aspect of accounting and bookkeeping operations on this safe,
Salary, burnout and work-life balance are among the factors affecting retention of accountants, according to a report from the Illinois CPA Society. The ICPAS released a report last month, Righting Retention, has been researching the problems with maintaining the accounting talent pipeline. Last summer, the Society hosted numerous focus groups,