Journal of Accountancy
- M&A activity in accounting on the rebound in 2021, expert says August 2, 2021Merger-and-acquisition activity for CPA firms is surging in 2021 after dropping in 2020 due to the COVID-19 pandemic, Joel Sinkin, president of Transition Advisors LLC said in a session at AICPA & CIMA ENGAGE 2021.
- SBA streamlines forgiveness process for most PPP loans July 28, 2021The SBA issued new guidance intended to speed up and simplify the forgiveness process for Paycheck Protection Program loans of $150,000 or less, which represent 93% of the outstanding loans in the $800 billion program.
- COSO provides guidance on application of ERM to cloud computing July 28, 2021New guidance from the Committee of Sponsoring Organizations of the Treadway Commission (COSO), provides a detailed road map for incorporating cloud computing into an organization’s enterprise risk management.
- COBRA premium assistance credit clarified further July 27, 2021The IRS has supplemented its guidance on COBRA premium payment assistance and the corresponding business tax credit under the American Rescue Plan Act.
- Shuttered Venue Operator Grant awards top $7.5 billion, SBA says July 27, 2021The SBA has awarded more than $7.5 billion in Shuttered Venue Operator Grants to about 10,000 live entertainment venues and other eligible entities.
- Why CPA firms need to know about restricted top-level web domains July 27, 2021New top-level web domains, such as .cpa, are one way for firms to modernize their digital front door. Here’s what you need to know about these new top-level domains (TLDs) and why you may want to consider using them.
- Ease staff’s fears about returning to the office July 26, 2021Firm leaders can address staff’s anxieties by discussing the rationale for returning to in-person work, communicating transparently about the safety measures they are taking, implementing employee feedback and, when possible, giving staff control over when they return.
- Learning from Black CPA career role models July 26, 2021A century after John W. Cromwell Jr. became the nation’s first Black CPA, Black role models continue to open doors in the profession.
- Single audit rules clarified for Provider Relief Fund recipients July 23, 2021Over the last several weeks, HHS has established in its PRF FAQs that the reporting in the PRF Reporting Portal will be based on when PRF payments were received.
- IRS launches 'Tax Pro Account' feature July 20, 2021A new online portal automates the submission of powers of attorney and tax information authorizations, and there are plans to expand its functionality over time.
- GASB revises proposed approach to financial statement notes July 20, 2021GASB issued a revised proposal that describes concepts that would guide the board when it establishes requirements for notes to financial statements for state and local governments.
- FASB alters accounting for certain leases with variable lease payments July 19, 2021FASB issued guidance that’s designed to help lessors more faithfully account for the underlying economics of leases that would have been classified as a sales-type lease or a direct financing lease and would have recognized a day-one loss.
- GASB proposal addresses a variety of governmental accounting issues July 19, 2021Various issues that have been identified as worthy of attention by the Governmental Accounting Standards Board are addressed in an omnibus proposed standard issued Monday.
- NFTs come with big valuation challenges July 15, 2021Nonfungible token sales have commanded eye-popping prices in the past year, leaving CPAs with many questions related to valuation of these digital assets.
- Restaurant Revitalization Fund recipients revealed July 14, 2021The US Small Business Administration has published a database of the more than 100,000 approved grants from the $28.6 billion Restaurant Revitalization Fund.