Journal of Accountancy - Accounting, tax, auditing news
WEBHow to add the JofA to your Apple News app. This quick guide walks you through the process of adding the Journal of Accountancy as a favorite news source in the News app from Apple. The Journal of Accountancy is the ultimate resource for today’s CPA, providing daily professional and regulatory updates, breaking news and videos.
The Rise and Fall of Enron - Journal of Accountancy
WEBSenior management, which had been voting with its feet since August 2000, selling Enron stock in the bull market, continued to exit, collectively hundreds of millions of dollars richer for the experience. On August 14, just six months after being named CEO, Skilling himself resigned, citing “personal reasons.”.
8 ways to calculate depreciation in Excel - Journal of Accountancy
WEBMay 1, 2021 · The SYD function calculates the sum - of - years' digits depreciation and adds a fourth required argument, per. The syntax is =SYD (cost, salvage, life, per) with per defined as the period to calculate the depreciation. The unit used for the period must be the same as the unit used for the life; e.g., years, months, etc.
Asset Impairment and Disposal - Journal of Accountancy
WEBEXECUTIVE SUMMARY TO ESTABLISH A SINGLE MODEL BUSINESSES CAN follow, FASB issued Statement no. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. FASB intends it to resolve implementation issues that arose from its predecessor, Statement no. 121, Accounting for the Impairment of Long-Lived Assets and for Long …
Medicare’s tricky rules on HSAs after age 65
WEBJul 1, 2021 · A high-level overview of the Medicare enrollment rules is in order. According to Medicare.gov: 1. Taxpayers already receiving Social Security at their 65th birthday will automatically be signed up for Medicare. Taxpayers who aren't yet collecting Social Security and are still covered by an employer's group health plan because they are actively ...
Tax, accounting, auditing news - Journal of Accountancy
WEBSep 20, 2024 · The IRS said that crowdfunding distributions may be included in the gross income of the person receiving them, depending on the facts and circumstances of the distributions. Next 20. The latest news from the Journal of Accountancy, covering accounting, financial reporting, auditing, taxation, financial planning, technology, and more.
Audit & assurance news and resources - Journal of Accountancy
WEBA new PCAOB report highlights how audit quality can be improved by root cause analysis — an approach the federal board eventually could require and one addressed in new AICPA quality management system standards. The latest auditing news and insights from the Journal of Accountancy, the ultimate resource for today’s CPA.
Accounting for sale and leaseback transactions
WEBJul 1, 2020 · The seller-lessee evaluates the sale under Paragraphs 606-10-25-1 through 606-10-25-8, and Paragraph 606-10-25-30, and determines that the transaction qualifies as a sale under Topic 606.Next, based on the information in the table "Smith-Jones Sale and Lease Terms," the seller-lessee evaluates the lease classification criteria in Paragraph …
A Risk-Based Approach to Journal Entry Testing - Journal of …
WEBTo extract journal entries that equate to round multiples of 10,000, 100,000 and 1,000,000, use the Excel MOD () function, which provides the remainder after the auditor divides a number by a divisor. For example, say that $10,422 is in cell A1 and the function MOD (A1,1000) is placed in cell B1.
5 best practices for intercompany accounting - Journal of …
WEBDec 1, 2016 · HOW TO PREVENT PROBLEMS. To avoid problems and to effectively support new regulatory pressures, Cheney recommended five best practices: Standardize global policies that govern critical areas across the organization. Most companies tend to have in place one or two pages of very high - level policies for intercompany accounting.