inDinero Tax Tips

JANUARY 1, 2025

Startups that hope to attract venture capital need to be able to provide high-level financial statements to investors. Good accounting also helps avoid costly mistakes: misfiled taxes, underreported equity, or mismanaged cash flow can snowball into major problems. Accrual accounting is better suited for tech startups.

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Cherry Bekaert

FEBRUARY 12, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) issued final guidance concerning income tax disclosures, labeled Accounting Standards Update No. For businesses surpassing specified quantitative thresholds, further disaggregation by taxing jurisdictions may be required. 2023-09 (ASU 2023-09).

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Basis 365

JANUARY 14, 2025

Financial Accounting Team: A dedicated accounting team is essential for daily bookkeeping, bill payment processing, payroll, sales invoicing, and financial statement preparation. Sales Tax Consultants: Sales tax complexities require specialized knowledge.

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CPA Practice

FEBRUARY 21, 2023

17 issued interim guidance for insurance companies on the corporate alternative minimum tax (CAMT), which was created by last year’s Inflation Reduction Act. The CAMT imposes a 15% minimum tax on the adjusted financial statement income of large corporations for taxable years beginning in 2023.

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Cherry Bekaert

MAY 9, 2024

The Governmental Accounting Standards Board (GASB) has issued Statement No. 102, Certain Risk Disclosures , to provide users of government financial statements with essential information about risks related to a government’s vulnerabilities due to certain concentrations or constraints.

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Cherry Bekaert

FEBRUARY 12, 2024

The Financial Accounting Standards Board (FASB) released final guidance regarding income tax disclosures on December 14, 2023. Accounting Standards Update No. 2023-09 (ASU 2023-09) applies to all entities subject to income taxes and is intended to enhance the transparency and usefulness of income tax disclosures.

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CPA Practice

JULY 23, 2024

Investors, accounting firms, and other stakeholders have until Oct. 21 to provide comments on a new proposed Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board (FASB) on Tuesday that aims to clarify rules on derivative accounting.

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ThomsonReuters

FEBRUARY 8, 2024

Therefore, when serving business clients, it is important that accounting professionals have the right framework to ensure that proper financial reporting procedures are in place to help with accounting assumptions. What are the main accounting assumptions? Let’s take a closer look at each one. dollars, euros, etc.)

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CPA Practice

MARCH 7, 2023

The Uniform Certified Public Accountant Examination (CPA Exam) is regularly updated to reflect enhancements to accounting and auditing standards as well as tax laws and regulations — and to improve the efficiency of the exam. By Gail Cole. Gail Cole is a Senior Writer at Avalara.

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Going Concern

FEBRUARY 13, 2025

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!

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Cherry Bekaert

SEPTEMBER 22, 2023

Contributors: Graham Michitsch, Senior Manager On September 6, 2023, the Financial Accounting Standards Board voted on cryptocurrency accounting and set in place a new rule that business must use fair-value accounting for certain crypto assets that meet the predefined criteria, such as bitcoin.

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inDinero Accounting

JUNE 29, 2023

Generally Accepted Accounting Principles (GAAP) are a set of accounting principles, standards, and procedures that define accepted accounting practice at a particular time. Its purpose is to ensure that financial statements provide an accurate and transparent view of the company’s financial condition and operations.

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Withum

SEPTEMBER 6, 2022

Companies are faced with a variety of complex financial accounting and reporting challenges. High risk and complex areas such as Revenue accounting, Capitalized Software Costs and Stock Based compensation require the skill and attention which a company may not have available internally. Accurate information on a timely basis.

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Withum

DECEMBER 14, 2023

On December 13, 2023, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2023-08 “Accounting for and Disclosure of Crypto Assets”. Entities are able to early adopt the ASU for both interim and annual financial statements that have not yet been issued or made available for issuance.

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CPA Practice

SEPTEMBER 7, 2023

The Financial Accounting Standards Board (FASB) unanimously approved new rules on Sept. I think we heard overwhelmingly from investors that allocate capital based on the use of financial statements that this will provide them better information to make their decisions.” I think this [standard] moves the needle there.

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Withum

JANUARY 12, 2024

A Purchase Price Allocation (“PPA”) is a financial accounting process that takes place after a business acquisition or merger. The purpose of a PPA is to determine the fair value of the acquired assets and liabilities, which is essential for accurate financial reporting. What is a PPA? Why Do I Need One?

Real Estate 75

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Cherry Bekaert

JANUARY 29, 2024

The Financial Accounting Standards Board (FASB) issued nine Accounting Standard Updates (ASUs), and the Government Accounting Standards Board (GASB) issued only one new GASB Statement in 2023. The latest issue of the Rundown features a summary of the new standards issued in the fourth quarter 2023.

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Going Concern

MARCH 8, 2024

Among other findings, the SEC found that CSH violated Rule 2-01 of Regulation S-X (the Rule) by providing prohibited non-audit services to Lordstown while also engaged in auditing Lordstown’s financial statements (which were then used in connection with Lordstown’s registration statements and periodic reports filed with the SEC).

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Cherry Bekaert

OCTOBER 25, 2023

The Financial Accounting Standards Board (FASB) has issued Accounting Standard Update (ASU) 2023-03 through ASU 2023-06. However, three of the four ASUs pertain to SEC guidance contained in the Codification and there were no new standards issued by the Government Accounting Standards Board (GASB) this quarter.

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ThomsonReuters

DECEMBER 6, 2022

This is due to the fact that while ESG discussions often center on a company’s strategy and performance, ESG can also impact tax liabilities and financial reporting. ESG matters may indirectly affect the financial statements; for example, an entity may suffer reputational damage from an environmental contamination that reduces sales.

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Shay CPA

OCTOBER 25, 2023

We want to give you a brief overview based on our experience, specifically delving into how the down round affects your accounting and your taxes. We have some tips to help you approach the down round with accounting and taxation best practices in mind. Then, look at: Tax deferrals. Then, look at: Tax deferrals.

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SkagitCountyTaxServices

JUNE 8, 2022

Now … for Mount Vernon businesses of a certain growth rate (or of a particular model), the move from “cash accounting” to “accrual accounting” is an important step in the journey. Speaking of which: reminder that second quarter estimated taxes are due next week on 6/15/22.).

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inDinero Accounting

JUNE 24, 2021

In this article, you’ll find the essential information to 38 FAQs about business financial statements and links to further reading. Financial Statement FAQs. What is a business financial statement? The business financial statement defined. Who uses business financial statements?

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Going Concern

APRIL 7, 2023

The alliance is part of PwC UK’s technology-driven strategic plan to reframe the way traditional tax, legal and people services are delivered. ’s accounts drew scrutiny from regulators, the firm’s plan to secure a U.K. Last month, audit firm BDO issued a so-called qualified opinion for Revolut’s 2021 accounts.

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Going Concern

MARCH 24, 2023

Tax The IRS plans to tax some NFTs as collectibles — and the rich would pay up to 28% on profits [ CNBC ] The IRS said it plans to tax some non-fungible tokens, or NFTs, as collectibles akin to art or gems — an approach that would tax profits for wealthy owners at a higher rate relative to assets such as stocks, real estate and cryptocurrency.

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Withum

SEPTEMBER 5, 2024

Being able to get an overview of a financial statement quickly is important to determine if additional time should be allocated to a thorough review. This is one of the skills my students will learn this semester in my Baruch College Introduction to Managerial Accounting course. The 79 students had a Form 10-K of their choosing.

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Generate Accounting

MARCH 25, 2022

The government announced that with the introduction of the top marginal tax rate of 39%, there would be increased focus on trusts. The trust tax rate is still at 33% and so there could be the incentive to funnel income through a trust if trustees or beneficiaries were paying 39% on their individual income.

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Generate Accounting

MARCH 25, 2022

The government announced that with the introduction of the top marginal tax rate of 39%, there would be increased focus on trusts. The trust tax rate is still at 33% and so there could be the incentive to funnel income through a trust if trustees or beneficiaries were paying 39% on their individual income.

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ThomsonReuters

APRIL 18, 2023

Financial statements contain critical information about a company’s financial position, cash flows, and results of operations. They paint a picture of the company’s financial position and business performance and help management, investors, and other stakeholders make more informed economic decisions.

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inDinero Accounting

APRIL 30, 2021

Mission-based organizations in compliance with Generally Accepted Accounting Principles (GAAP) should prepare these financial statements: Statement of Financial Position (Balance Sheet) provides a picture of the NFP’s assets and liabilities. The nonprofit term for the financial statement makes it explicit.

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PYMNTS

DECEMBER 12, 2019

Reports in Bloomberg Tax this week said SEC Corporation Finance Deputy Chief Accountant Lindsay McCord spoke Tuesday (Dec. Now, the SEC is urging businesses to disclose their supply chain financing arrangements in their Management’s Discussion and Analysis section of financial statements, reports said. Rising Criticism.

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Anders CPA

AUGUST 17, 2022

While some of the hype around cryptocurrency has cooled off, we believe it’s here to stay and have dedicated resources to understanding the tax, audit and financial accounting effects of digital currencies.

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ThomsonReuters

JANUARY 18, 2024

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? Accountant responsibilities extend far beyond number crunching.

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ThomsonReuters

APRIL 18, 2023

To help ensure that financial reporting is transparent and investors have the most accurate and timely information they need to make informed investment decisions, public companies must disclose certain financial, and other information, to investors. What are the differences between GAAP and IFRS? What happens if you violate GAAP?

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Nancy McClelland, LLC

MARCH 6, 2022

Tax Update April 28, 2022 | 11:00 AM EST FREE NSAC Members | $56 Non-Members CPE: 1 Credit Hour This session will bring attendees the latest and up-to-date tax law changes and new tax return reporting items. Additionally, the CLN will explore any anticipated future tax law changes. Click here for more info.

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Cherry Bekaert

JULY 29, 2024

The Financial Accounting Standards Board (FASB) did not issue any new Accounting Standard Updates (ASUs) in the second quarter of 2024, while the Government Accounting Standards Board (GASB) issued one new GASB Statement. Second Quarter 2024 Newly Issued Standards GASB Statement No.

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Cherry Bekaert

JULY 20, 2023

The Financial Accounting Standards Board (FASB) has issued only two new Accounting Standard Updates (ASUs) and the Government Accounting Standards Board (GASB) has not issued any new GASB Statements in 2023. If the proportional amortization method is not used, then ASC 323-740 provides specialized accounting.

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