Accounting
GASB to fix government reporting rules for compensated absences
The Governmental Accounting Standards Board is looking for feedback on a proposal to improve the guidance on compensated absences for state and local government employees, along with disclosure requirements. Original Article Posted at : https://www.accountingtoday.com/news/gasb-to-fix-government-reporting-rules-for-compensated-absences
Read MoreGASB to fix gov’t reporting for compensated absences
The Governmental Accounting Standards Board is looking for feedback on a proposal to improve the guidance on compensated absences for state and local government employees, along with disclosure requirements. Original Article Posted at : https://www.accountingtoday.com/news/gasb-to-fix-government-reporting-rules-for-compensated-absences
Read MoreGoodwill impairment fell in 2019, but rose sharply in 2020
Goodwill impairments recorded by public companies declined in 2019, but the COVID-19 pandemic appears to have caused it to spike in 2020, based on early reports. Original Article Posted at : https://www.accountingtoday.com/news/goodwill-impairment-fell-in-2019-but-rose-sharply-in-2020
Read MoreGoodwill impairment looks to have spiked in 2020
Goodwill impairments recorded by public companies declined in 2019, but the COVID-19 pandemic appears to have caused it to spike in 2020, based on early reports. Original Article Posted at : https://www.accountingtoday.com/news/goodwill-impairment-fell-in-2019-but-rose-sharply-in-2020
Read MoreWhat kind of firm do you want to create?
High touch vs. high tech? Both have merit, but you can’t be both. Original Article Posted at : https://www.accountingtoday.com/opinion/what-kind-of-firm-do-you-want-to-create
Read MoreTax Incentives for Digital Nomads and Remote Workers
Some of Spain’s most popular Youtubers were already residing in Andorra when Ruben Doblas’s public announcement that he plans to move his residency to Andorra triggered Spain’s tax agency to announce new tax avoidance measures to track individuals who plan to change their residency for tax purposes. Andorra’s tax system is still appealing to EU…
Read MoreLawmakers Reintroduce Bill to Protect Against Double Taxation of Financial Transactions
With several states entertaining proposals to tax the financial transactions of savers and investors who don’t even live in their states, some members of Congress see an interstate commerce question worthy of a federal response. Rep. Patrick McHenry (R-NC) and Rep. Bill Huizenga (R-MI) have reintroduced a bill, the Protecting Retirement Savers and Everyday Investors…
Read MoreState Aid in American Rescue Plan Act Is 116 Times States’ Revenue Losses
Preliminary data suggest that states closed out calendar year 2020 with only $1.7 billion less revenue than they generated in 2019 (a decline of less than 0.2 percent), not counting federal assistance, while municipal governments actually experienced substantial revenue growth due to rising property values. Yet the American Rescue Plan Act sets aside $350 billion…
Read MoreAn Investment Boost in the UK’s 2021 Budget
Today, the UK’s Chancellor of the Exchequer Rishi Sunak released the 2021 budget, and most important for near-term growth is the significant boost to capital allowances, which the Chancellor said will increase business investment by 10 percent. Many countries have strict limits on expense deductions for investment and the UK has been among the least…
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