Finance & Accounting

Small businesses are gaining more revenue this year despite the lingering challenges from COVID-19 and reversing last year’s losses, according to a report from Intuit’s QuickBooks unit. The report examined how small and midsized businesses performed financially in different industries and geographies from March 2020 to March 2021, analyzing anonymized revenue data drawn from approximately
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The Small Business Administration debuted a new program to help small businesses weather the COVID-19 pandemic and prepared to retry a launch of its Shuttered Venue Operators Grant program. The SBA opened a new round of Economic Injury Disaster Loan assistance, known as “Supplemental Targeted Advances,” on Thursday to provide $5 billion in extra help
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The International Public Sector Accounting Standards Board released four proposals Thursday for improving various aspects of government accounting around the world. The exposure draft documents deal with changes in the measurement of assets and liabilities in financial statements; measurement; property, plant and equipment; and non-current assets held for sale and discontinued operations. The IPSASB, which
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Paycheck Protection Program (PPP) loans have aided more than 5.2 million small business owners, providing a much-needed lifeline during the Coronavirus outbreak crisis. The overwhelming majority of owners who received PPP loans legitimately used the money to retain employees and stay operational. But the PPP program attracted a few rotten apples. And you won’t believe
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With the lengthened filing season in full swing, National Conference of CPA Practitioners tax chair Stephen Mankowski recently met virtually with government officials on a number of tax season-related topics, including early season filing statistics, the appeals process, improvements to the taxpayer experience, Nationwide Tax Forums, and the filing date extension. Current filing statistics include
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While retailers and consumer-oriented commercial businesses embraced online marketing years ago, accounting practices have been slow to adopt digital marketing strategies. The pandemic has hastened adoption, but for most firms the move to digital marketing remains more reactive than proactive. Many of the digital tools and techniques remain unfamiliar to senior firm management. This issue
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Intuit is adding QuickBooks Cash, the bank account for small businesses, to QuickBooks Online Accountant and is planning updates to the Payroll Insights Dashboard for April. Intuit has already started rolling out QuickBooks Cash to accountants and firms, and has added tools to help accountants manage their firm’s cash flow. Professionals will now have the
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The Public Company Accounting Oversight Board approved a new advisory group aimed at giving investors and other stakeholders more opportunities to engage with the audit overseer. By a unanimous vote on Monday, the four members of the board approved the creation and the charter of the 18-member Standards Advisory Group. According to the advisory group’s
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When everybody wants returns; future CPAs; the lure of Tinseltown; and other highlights from our favorite tax bloggers. Time enough at last Wolters Kluwer (http://news.cchgroup.com/): The very latest updates. Eide Bailly (https://www.eidebailly.com/taxblog): “This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” said two lawmakers, after their colleagues
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