The Biden administration released the outline of its American Families Plan on April 28, 2021. The focus of the plan is to extend the tax breaks enacted as part of the American Rescue Plan Act for lower- and middle-income taxpayers. These tax breaks would be paid for with tax increases
A sizable chunk of private companies still aren’t ready to implement the new lease accounting standard before the end of the year, despite postponements in the deadline due to the pandemic. Nearly one-fifth (19.8%) of executives at privately held organizations feel unprepared to comply with the Financial Accounting Standards Board’s
Auditors are taking advantage of the remote auditing capabilities they used during the pandemic to do more types of audits and expand priorities like fraud detection and cybersecurity. The COVID-19 pandemic has forced many audit firms and internal audit departments to operate remotely, but now as more parts of the
RSM US announced that the fourth class of its Industry Eminence Program has begun. Launched in 2018 by RSM US chief economist Joe Brusuelas and deputy chief economist and national Industry Eminence Program leader Kevin Depew, the Eminence Program looks to educate candidates on a range of economic, business and
Shujinko, which makes automated enterprise compliance solutions, has made its SOC 2 audit preparation and readiness portion of its AuditX software available for free. The software automates evidence collection and mapping to simplify the audit preparation process. AuditX works across multiple audits and compliance frameworks so auditors and companies can
The U,S, Small Business Administration is urging food and beverage establishments to submit their applications for the Restaurant Revitalization Fund by next Monday. The deadline for applications is May 24 at 8 p.m. ET. The program, which opened May 1, was included as part of the American Rescue Plan Act.
BlackLine, which makes accounting automation software for the monthly close, has released a new solution, BlackLine AR Intelligence. Powered by artificial intelligence, the new accounts receivable software uses real-time data and analytics to help controllers understand their customers’ financial behavior, and to use the information to inform strategic decision-making. “Now
Residents of New Jersey, Massachusetts and Connecticut will face the highest tax burdens over a lifetime, according to a new study. Those living in New Jersey will pay on average a grand total of $931,698, well above the $827,185 for Massachusetts residents and $805,213 for Connecticut. Nationwide, Americans will pay
The accounting and finance profession is having trouble retaining employees from different racial, ethnic and gender backgrounds, but there are some strategies organizations can use to hold onto diverse employees. A study released in February by the Institute of Management Accountants and the California Society of CPAs found that 43
Remember Blockbuster Video? It wasn’t so long ago that Blockbuster dominated the video rental space with 9,000 stores worldwide and close to $6 billion in revenue. Remember the annoying late fees Blockbuster kept charging customers pre-Netflix/Amazon? Those late fees were actually part of Blockbuster’s business model. They said, “That’s just