Accounting

The firm admitted shortcomings in three years of work for a client, which had to restate its distributable reserves twice. Original Article Posted at : https://www.accountingtoday.com/articles/kpmg-gets-reprimand-from-u-k-regulator-over-reserves-audits

Accounting Today is putting together its VAR 100 ranking of the top value-added resellers of accounting and accounting-related software by revenue. Original Article Posted at : https://www.accountingtoday.com/news/deadline-extended-accounting-todays-2020-var-100

The June QuickBooks update has brought bolstered reporting capabilities for QuickBooks Online and QBO Accountant, and a new tier for QuickBooks Desktop Enterprise that offers assisted payroll and industry-specific editions. Original Article Posted at : https://www.accountingtoday.com/news/quickbooks-boosts-reports-for-accountants-upgrades-enterprise-edition

Disunion; $13K in cigars; ‘til theft do us part; and other highlights of recent tax cases. Original Article Posted at : https://www.accountingtoday.com/news/tax-fraud-blotter-bad-lux

Ohio Society of CPAs president and CEO Scott Wiley, PwC US chairman Tim Ryan and Oracle executive director Kimberly Ellison-Taylor discussed the impact of racism on the profession. Original Article Posted at : https://www.accountingtoday.com/news/cpas-commit-to-more-diversity-in-wake-of-george-floyd-killing

The Governmental Accounting Standards Board released a proposed technical bulletin Thursday from its staff with application guidance on the CARES Act and outflows incurred by state and local governments in response to the COVID-19 pandemic. Original Article Posted at : https://www.accountingtoday.com/news/gasb-proposes-guidance-for-cares-act-and-coronavirus

It won’t count as income to employees, but they also won’t be able to deduct it. Original Article Posted at : https://www.accountingtoday.com/news/cash-payments-for-donated-leave-arent-comp-irs