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The Financial Accounting Standards Board will be meeting next week to discuss the impact of the novel coronavirus pandemic on its stakeholders, including pushing back the effective dates of some of its upcoming accounting standards. Original Article Posted at : https://www.accountingtoday.com/news/fasb-mulls-pushing-back-accounting-standards-deadlines-in-response-to-coronavirus
Read MoreKey Findings As states grapple with declining revenues and delay tax collections, policymakers must begin to think about how to close out their FY 2020 budgets consistent with balanced budget requirements. Every state but Vermont has a balanced budget requirement, but details vary across the country. In some states, a budget must be balanced when…
Read MoreOn Doctors’ Day, my hospital celebrated our work by giving us each a pair of cheap headphones, and also announced the death of an attending. Though the personal risk to each of us was highlighted by the recent death, the administration did not give hazard pay, or PPE comparable to other countries’, or even a…
Read MoreLast night, the, the Treasury Department announced it was reversing course and would make direct coronavirus rebate payments to Social Security beneficiaries even if they…
Read MoreThe Internal Revenue Service and the Treasury Department have reversed course on requiring senior citizens to file a “simple tax return” in order to receive a stimulus payment as part of the coronavirus package passed by Congress last week. Original Article Posted at : https://www.accountingtoday.com/news/irs-will-allow-coronavirus-stimulus-payments-for-seniors-who-dont-file-tax-returns
Read MoreA new $461.22 million operational risk catastrophe bond transaction has successfully been issued, with the ultimate beneficiary of the operational risk insurance protection provided by the new Operational Re III Ltd. deal being investment banking giant Credit Suisse, Artemis has learned. This is the third and the largest operational risk catastrophe bond transaction that has…
Read MoreSelf-service is everywhere you look: online, at gas stations and big-box stores, and now at many grocery stores with self-checkout lanes. You’ll find self-checkout lanes at the biggest home improvement store chains, too. But hardware stores big and small are an exception in that you also will still find various personal services there. Following are…
Read MoreOn the front lines, America’s emergency departments (ED) are currently in at the center of a crisis treating patients with COVID-19. Emergency physicians and other clinicians are placing themselves and their families at risk. Yet, there is also another important crisis facing hospital-based EDs: surprise billing legislation. Certain forms of surprise billing legislation have the…
Read MoreThe TAP also just welcome 33 new members. Original Article Posted at : https://www.accountingtoday.com/news/irs-extends-deadlines-for-applying-to-taxpayer-advocacy-panel
Read MoreKPMG and one of its senior partners have been reprimanded and fined 455,000 pounds ($560,000) for failings in its audit of a U.K. company, the latest sanction against the Big Four auditor in recent years. Original Article Posted at : https://www.accountingtoday.com/articles/kpmg-reprimanded-again-and-fined-560k-for-audit-failings-in-u-k
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