Auditors sought a single principle for accounting of software costs. But after months of consideration, the Financial Accounting Standards Board (FASB) is shelving the project. FASB announced current guidance will remain in place. Board members "decided not to further pursue…
Accounting
Fewer college students are willing to put in the time and money to become accountants. Finance professionals are concerned about the dwindling talent in the pipeline as Baby Boomers retire. Now some states are getting serious about the problem and…
Whether payroll professionals use the most current Excel in Microsoft 365 or an earlier version, they'll never find enough time to use all of the functions and shortcuts available to them. Even expert users of Excel will stumble upon a…
Brace yourself: About a third of accountants are making multiple errors every week. Fifty-nine percent are goofing up on a monthly basis, in part related to closing the books. And a whopping 18% of accountants admit to making mistakes every…
If you've used Excel to create a database table with fixed formulas, and that table will be used by multiple people, there's a way to protect the sheet from being written over while still enabling editing in fields where people…
Believe it or not, there's still money left on the table for companies that kept workers on their payrolls while struggling to stay afloat during the COVID-19 pandemic. Heads up: Businesses face a March 24 deadline to correct any employee…
Companies seeking accountants to replace or reinforce their workforces will continue to find themselves stuck between a rock and a hard place. The human reinforcements aren't coming in sufficient numbers. Fact: The number of candidates sitting for the certified public…
Year-end close is when many finance teams are vulnerable to burnout from a seemingly endless, high-priority to-do list of generating annual balance sheets, profit and loss statements and cash flow statements. So if your year-end closing is this quarter, or…
Sales tax compliance is a demanding job for finance teams like yours. For example, comparing the number of tax rate changes across the U.S. for January 1-June 30, 2023 vs. January 1-June 30, 2022, the volume of changes increased 43%,…
Finding and securing talent is always at or near the top of CFOs' list of concerns. Could removing college degree requirements from job descriptions help widen the talent pool? Companies like Walmart think it might give them a competitive advantage.…
In case your finance team had been in cruise control heading into year-end because IRS's quarterly interest rates hadn't changed since the beginning of 2023 - surprise! There are new rates as of October 1, 2023. IRS Rev. Ruling 2023-17…
How many times has your Finance team seen the word "processing" on their laptop screens this week? Instant payments, both via The Clearing House's RTP (Real-Time Payment) Network and the Federal Reserve's 24/7/365 FedNow Service, are poised to change that.…
