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Friday Footnotes: PwC Completes Its Punishment; Hybrid Work Should Stay in 2025; Deloitte Clutters Up the Dark Web | 1.3.25

Going Concern

The new platform of roughly 12,000 professionals will include a united Trans-Atlantic advisory and tax practice, as well as independent audit practices. Two anonymous accountants and an unnamed accounting firm have challenged the Public Company Accounting Oversight Boards enforcement authority.

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Tips for Startup Accounting

Withum

Increased Accounting Complexity. 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.

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ASU 2023-09: FASB’s New Income Tax Disclosures for Private Entities

Cherry Bekaert

On December 14, 2023, the Financial Accounting Standards Board (FASB) issued final guidance concerning income tax disclosures, labeled Accounting Standards Update No. Early adoption is permissible for unaudited annual financial statements. 2023-09 (ASU 2023-09).

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ASU 2023-09: New FASB Rule Enhances Income Tax Disclosures for Public Companies

Cherry Bekaert

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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The Secret to a No-Sweat Compliance Audit is an Outsourced CFO

inDinero Accounting

Undoubtedly, during an audit, you will discover areas of improvement and make changes to improve efficiency in accounting and ensure compliance. When you are an inDinero customer, your fractional CFO brings with them bookkeeping, accounting, and tax services. CFO role during a financial audit.

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Year-End Tax Strategies for Businesses

Withum

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. C corporation pays to add $0.94

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Friday Footnotes: Why People Leave Public Accounting; Audit Workloads Up; Terrorist Clients (Literally) | 12.2.22

Going Concern

Along with being the biggest, the Big Four are arguably the best, at least according to Accounting Today’s 2021 rankings of U.S. audit and accounting firms, which measure the firms’ revenue to determine the standings. If they do, their financial statements can remain private or be shared only with regulators.