(212) 736-0055

Schedule Your Small Business Success Consultation

Investors Defend FASB Role on IFRS

apresti

Investors Defend FASB Role on IFRS

July 8 2011 International accounting standard-setters may lack the political backbone of their U.S. counterparts, users of financial statements fear.   Representatives of large institutional investors told the Securities and Exchange Commission on Thursday that they had serious qualms about the London-based International Accounting Standards Board replacing the U.S. Financial Accounting Standards Board as the […]

Read more
apresti

AICPA Offers Guidance on Registered Preparer Competency Exam

July 8th, 2011 In a July 7 letter to IRS Commissioner Doug Shulman, the AICPA offered its perspective on the agency’s development of the registered tax return preparer examination. The IRS anticipates that it will begin offering the exam this fall to prospective candidates. In general, CPAs and employees under their supervision will be exempt from taking […]

Read more
apresti

Sights Set on Grand Debt Deal

Obama, Congressional Leaders Eye Sweeping Bargain to Cut Deficit by $4 Trillion   President Barack Obama and congressional leaders agreed Thursday to strive for a blockbuster deficit-reduction deal and will spend the weekend determining whether political support is possible for a sweeping plan to curb entitlements and make major tax-code changes. The package to reduce […]

Read more
apresti

Tax Preparers’ Comments Run Gamut on IRS Competency Testing

July 6th, 2011 Some tax preparers who will be affected by official competency testing with the Internal Revenue Service take the most extreme view that IRS should force return preparers to get an accounting degree, while others say anyone preparing taxes for five years without problems should be grandfathered, according to recent comments to the […]

Read more
apresti

Business owners baffled by financial statements

July 5th, 2011 Many small business owners are befuddled by complex financial statements. And it could be costing them. Each month, small business owners receive invoices from financial companies detailing their companies’ credit and debit card transactions. Few owners, however, have the time or inclination to make sense of the documents, which can be pages […]

Read more
apresti

Why Your Business Needs a Policy for Remote Workers

July 1st, 2011 Working remotely is becoming more commonplace for businesses of all sizes, from the multi-international corporations to the two-man shops.  While many small businesses are embracing this trend, few have official policies in place governing how and when employees work remotely. Remote workers can significantly reduce overhead costs and lure and retain top […]

Read more
apresti

FASB Seeing Discord as Final Goodwill Impairment Rules Readied

June 30th, 2011 The Financial Accounting Standards Board sees discord between major auditing firms and their company clients over proposed judgments to be made in testing for impairment of goodwill, an aspect of reporting that became significant for many companies after the 2008 financial crisis. FASB directed its staff June 29 to continue drafting final […]

Read more
apresti

Temporary unemployment tax to expire today after 35 years

July 1st Virtually every private employer in the United States will get a tax cut today. It will not affect workers’ paychecks. But the expiration of a 35-year-old temporary unemployment tax – about $14 a year per worker – will mean real money for some big companies at a time when President Obama is pushing […]

Read more
apresti

Five Ways Businesses Are Coping With Rising Health-Care Costs

With costs of medical plans escalating and new regulations looming due to health-care reform, businesses of all sizes are scrambling to manage the impact to their bottom lines, while still trying to provide attractive options. To do this, leaders need to be creative and careful to avoid damaging employee morale and motivation. Managers of some […]

Read more
apresti

Debt Ceiling Deal Could Mean Social Security Cuts

June 28th, 2011 Lawmakers look at changing the inflation index as a way to trim the deficit As the negotiations on a debt reduction package drag on, both parties have demanded that the certain items—tax hikes, Medicare, and Social Security cuts—be taken off the table. The standoff has forced lawmakers to become increasingly creative as […]

Read more