The Financial Accounting Standards Board plans to propose that private companies and nonprofits get an extra year to implement the lease accounting standard while also giving private franchisor companies an extra year for revenue recognition. | | | Coronavirus: Stay up to date | | Accounting Today has compiled in one place all its coverage of the pandemic, how it's affecting the industry, and what you need to know going forward. | |
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| AICPA highlights tax filing shortcomings related to coronavirus relief → | | By Michael Cohn 3 min read | | The American Institute of CPAs has posted a set of frequently asked questions and answers aimed at helping CPAs and their clients with tax filing and tax relief in response to the novel coronavirus pandemic, while pointing out the various shortcomings in the federal government’s response. | |
| No, automation won't kill the CPA → | | By Mike Whitmire 5 min read | | The prediction of job elimination via technology has been made eleven times throughout history. It still hasn't happened. | |
| How to lead in the age of coronavirus → | | By Jody Padar 4 min read | | Now is the time for CPAs to show up as a trusted advisor with good judgment, steady energy and a great, empathetic connection with their clients. | |
| Cherry Bekaert acquires Tax Advantage Group → | | By Michael Cohn 2 min read | | Cherry Bekaert, a Top 25 Firm based in Richmond, Virginia, has acquired Tax Advantage Group, a consulting firm in Greenville, South Carolina that specializes in providing services related to the New Markets Tax Credit to clients across the U.S. | |
| Opportunity zones and cost segregation → | | By Malik Javed, Ryan VanderVelden 3 min read | | Taxpayers who meet the requirements for investing in an opportunity zone can potentially take advantage of increased depreciation deductions through cost segregation, further decreasing their tax liability. | |
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