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A selection of the latest accounting news and blog posts.
Proposed CPA licensure model emphasizes core plus disciplines A newly proposed CPA licensure model developed by the National Association of State Boards of Accountancy and the AICPA is designed to help newly licensed CPAs learn the skills and competencies they will need in the workplace of the future.
Haines Watts supporting RED January this Christmas That's why Haines Watts is supporting RED January, the campaign run by the UK's leading mental health charity Mind. Mind provide advice and support to empower anyone experiencing a mental health problem. They campaign to improve services, raise awareness and promote understanding.
Telleroo streamlines payments for accountancy firms with Moorwand The company is the latest to select Moorwand for its e-money issuing and digital banking access. Telleroo brings the speed, simplicity and ease of the consumer fintech user experience to accountancy firms and bookkeepers.
OTS: Roll out that big block of cheese I have looked before at the Office of Tax Simplification's work on small business and landlords' tax. They have now produced a fuller report "Tax reporting and payment: Simplifying tax for self-employed people and residential landlords". The OTS suggests the next government should commission further work by them or by HMRC in three areas:.
Accountancy firm Grant Thornton and one of its partners hit with fines for audit failures Accountancy firm Grant Thornton was today fined £650,000 and one of its partners £20,000 for failures in the auditing of a publicly listed company. Regulator the Financial Reporting Council said it had sanctioned the firm with a £650,000 fine and one of its partners £20,000.
Revenue recognition tips from the SEC staff Labeling multiple goods and services provided to a customer as a "solution" does not eliminate a company's responsibility to identify and report separate performance obligations under FASB's new revenue recognition standard, SEC Professional Accounting Fellow Susan Mercier, CPA, said Monday.
How critical audit matters relate to critical accounting estimates Auditors of the largest public companies have included critical audit matters in their reports for the first time. Here are some of the SEC’s observations based on those reports.
Are emails ruining your life? The question of how long a client should expect to wait for an answer to an email sparked a flurry of responses when it was recently posed in Any Answers. And it's no surprise, of course. There is still a prevailing culture left over from our industrial past that activity equals productivity.
How to ignore the naysayers Much to my dismay, the feeble attempt I had made at starting my own home-based office did not get approval from some people. Benedetto Accounts and Tax was founded with very little financial investment, which is now a possibility if you want to open a cloud-based practice.
Alison Houck CPA to serve on national accountancy board The National Association of State Boards of Accountancy announced Alison Houck, CPA, of Rehoboth Beach will serve on its 2019-20 board of directors as Middle Atlantic regional director. She was installed into office during NASBA's 112th Annual Meeting in Boston.
Who are accounts actually for? There was a time when it was easy to decide to whom an accountant reported: the law said it was the shareholders. The audit report was addressed to them. And in practice, the accountant liaised with the directors and/or owners of the entity that they were working for, and pretty much delivered what they wanted.
Accountancy giant KPMG announces plans to move to Aberdeen's Marischal Square An accountancy firm has confirmed it will be moving its Aberdeen office into Marischal Square. Around 140 staff from KPMG will share the fourth floor of 1MSQ with the NHS's National Services Scotland team.
Accountancy firm recognises Inverurie employee With a varied portfolio of corporate and unincorporated business, Inverurie's Emma Waterman has been promoted to partner after just three years with the company. She joined Johnston Carmichael in 2016 and became a director in 2017, taking over the leadership of the Inverurie office earlier this year.
Election Thoughts, and What you can do to Prepare? A Conservative led government plans to maintain the existing income tax rates of while increasing the amount of tax-free income you can earn before they become chargeable, while several of the other parties wish to increase income tax by varying amounts, and on varying forms of income.
Tax avoidance under scrutiny Only a couple of weeks ago, this column highlighted what appeared to be an error by Shadow Chancellor John McDonnell, who seemed unable to differentiate between tax avoidance and tax evasion.
Two new partners and directors named at accountancy firm Accountancy and business advisory firm Johnston Carmichael has promoted two staff to partner and another two to director. The firm's Inverurie office head Emma Waterman becomes a partner along with Edinburgh-based Stewart Pennington, who works in the food and drink team.
Why Accountancy Jobs Will Never Lose Steam In every business, ledgers, bank reconciliation statements, profit and loss statements and income and balance sheets present an unbiased picture of the financial position of an organization.
Accountancy body launches apprenticeship scheme for school leavers Employers will pay apprentices the national minimum wage - €19,000 per annum - and offer three week's paid study leave per year during the programme. ATI sources and screens applicants and then refers them to employers for interview. It is currently seeking employers interested in participating in the programme, which will begin on January 14th.
Video: Trust in audit and technology - an Accountancy Age panel debate In this panel debate, guest speakers discuss the challenges faced by the audit industry today while focusing on the lack of trust in audit and technology amid the collapse of many UK businesses that highlighted the absence of government intervention.
HMRC debt collection - long arms! The FTT decision in Ivan Yanev concerns an application for a very late Appeal, ultimately Struck Out. The decision narrates the long story, with Mr Yanev dealing in used catalytic converters, making a lot of money doing so, but failing to register and declare VAT.
Creative accounting: Don't put investors off It almost goes without saying that investors need to have a certain risk appetite. However, if your business lacks sufficient and appropriate controls then investors will either not invest in you, or not invest at a favourable valuation to your business.
Government to fund Ireland women's team through third party The Government is to provide the almost €200,000 in funding that is due to the FAI in support of the women's national team, but the money is to be handled by accountancy firm BDO, with the payment being made on the basis that none of it will at any stage end up in an association bank account.
Podcast: Inside Accountancy Episode 7 - Alternative Finance As accountants take on a more advisory role, understanding alternative finance and how to access it could prove a good method of adding value to a firm.
How SMEs can weather political headwinds Wherever you stand on the issue of Brexit, there's no question that it'll mean uncertainty. Uncertainty not just in local economic terms, but in terms of the impact it will have on your supply chain and income streams as the Sterling gets caught in the crossfire of the UK's political turmoil.
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