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Fees and Income Still Growing at Firms Despite Coronavirus

(Accounting Today) - Accounting firms are still managing to see increases in their fees and income per partner this year, despite the economic downturn from the COVID-19 pandemic, according to the latest edition of the annual Rosenberg Survey.


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When to Test Goodwill and Indefinite-Lived Intangible Assets for Impairment 
(Accounting Web) - Entities whose operations are negatively affected by COVID-19 may need to consider testing their assets for impairment.

European Central Bank Keeps Rates and Stimulus Program Unchanged, Despite Stronger Euro 
(CNBC) - The euro, which is closely watched by the central bank, has risen over 5% against the the dollar since the start of July and was trading around $1.1846 just after the decision.

IRS Issues Guidance on COVID-19 Testing 
(JofA) - The IRS said that COVID-19 testing and diagnostics are not minimum essential coverage under a government-sponsored program and therefore do not disqualify taxpayers from taking the Sec. 36B premium tax credit or Medicaid.

Accounting Firm BDO Reports $1.8 Billion in Revenue; Growth of 11.3% 
(CPA Practice Advisor) - In fiscal year 2020, BDO expanded both service offerings and geographic reach, including the launch of a holistic collection of digital services through BDO Digital, LLC in January, and office expansions in six markets over the past 12 months.

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