The Financial Accounting Standards Board’s proposed update to its hedge accounting standard could help companies with their risk management, but they will probably need sophisticated hedging expertise to benefit. FASB issued the proposed accounting standards update in May to align a company’s hedge accounting more closely with its risk management
Bill.com has inked a deal to buy Invoice2go, an accounts receivable software provider for small businesses. The stock and cash transaction is valued at approximately $625 million. Invoice2Go has offices in Sydney, Australia and Palo Alto, California, giving Bill.com more of a global reach. Already an expert in accounts receivable
Document management software provider Doc.It has been acquired by IRIS Software Group, a provider of accounting software globally. Financial terms of the deal were not disclosed. The buy comes at a time when CPA firms across North America are looking to expand and deploy new services, aided by cloud-enabled technology
Anduin, a startup providing artificial intelligence-based accounts receivable software, has closed a $14 million seed round. The money is earmarked to introduce a new Predictive Insights solution and a new suite of Practice Management solutions. Anduin’s end-to-end accounts receivable software, built on its Intelligence-Based Billing platform, made Accounting Today’s 2021
Democratic senators rejected any attempt by Republicans to set conditions for increasing the federal debt limit, showcasing an escalation in partisan bickering as a two-year suspension of the ceiling approaches expiration. “Nobody is going to hold the American economy hostage, period, full stop,” Senate Finance Committee Chair Ron Wyden said
The second annual Sovos Sales and Use Tax report sheds surprising light on the existing landscape of sales and use tax compliance, and raises questions about the future, particularly as we move into a digital age. By the numbers, the survey reports: There have been 657 form revisions in 2021
The Governmental Accounting Standards Board proposed guidance Monday on various accounting and financial reporting issues that were identified during implementation, application and due process on its standards. The issues covered by the exposure draft of the omnibus statement include accounting and financial reporting for exchange or exchange-like financial guarantees; and
Proper, a San Francisco-based provider of automated accounting and bookkeeping services for real estate property and asset managers, has scored $9 million in Series A funding from investors. Proper plans to use the extra funds to accelerate development of its automated accounting technology, build a new customer-facing platform, and hire
The Institute of Management Accountants officially appointed J. Stephen McNally as chair of the IMA’s global board of directors, and he plans to focus on the organization’s growing presence internationally. McNally, who is CFO of the Plastic Technologies group of companies and previously spent a long career as a finance
The Internal Revenue Service’s Office of Chief Counsel posted a memorandum on cost-sharing agreements with reverse clawback provisions and their implications for transfer pricing arrangements and stock-based compensation. The memorandum, issued Tuesday by associate chief counsel Peter Blessing and posted Friday by the IRS, provides non-taxpayer specific legal advice about