Joselin Martin, CPA, CGMA, joined a construction company where the founder was adjusting to his new role as a senior executive. Jeff Livesay, CPA, CGMA, was hired to help transition a firm from first generation to second with its first new leadership team in nearly 40 years — at the same time the firm started […]
COBRA premium assistance credit under ARPA clarified
In 86 questions and answers, the IRS in Notice 2021-31 gave employers, health care plans, and insurers background and clarifications on how to provide premium assistance for COBRA health care continuation benefits to affected employees and other beneficiaries and claim a corresponding tax credit. The temporary premium assistance and credit are available under the American […]
Restaurant Revitalization Fund to stop accepting applications Monday
The Restaurant Revitalization Fund (RRF) will officially stop accepting applications Monday, May 24, at 8 p.m. ET, the U.S. Small Business Administration (SBA) announced. While the application window won’t close until Monday, it realistically remains open only to the smallest providers of on-site food and drink. The SBA revealed last week that the RRF had […]
Diverse faculty attracts diverse students
Having diversity in the front of the classroom benefits all students, especially the students of color who may not be used to seeing people like themselves in that position, said Mark Dawkins, CPA, Ph.D., professor of accounting at the University of North Florida and the first Black CPA, Ph.D., president-elect of the American Accounting Association. […]
Finance leaders search for opportunities as outbreak drags on
Altman sees opportunity in the logistics sector as companies reinvent their supply chains, including investment in new delivery hubs. But Welch Equipment’s revenues are down from last year — partially a result of the sales cycle, but also a slowdown for some clients’ facilities. “What has curtailed us is the companies who have really not […]
COVID-19 decisions create data dilemma for businesses
Businesses have struggled for years to control and track the movement of data throughout the organization. The COVID-19 pandemic has further exacerbated this issue. Problems with connectivity and interoperability between legacy systems and software-as-a-service (SaaS) platforms prompted employees to consistently use personal instances of cloud-based services to aid in the completion of their work. As […]
TQAs discuss nongovernmental health care entities’ pandemic-related issues
Nongovernmental health care entities’ accounting for coronavirus pandemic-related governmental assistance is addressed in Technical Questions and Answers issued by the AICPA on Wednesday. TQAs 6400.63–.70 were developed by the AICPA Health Care Expert Panel and provide background and nonauthoritative accounting information for nongovernmental health care entities, which include business entities and not-for-profits. Information is provided […]
TQAs address lease accounting for retirement communities
Background and nonauthoritative guidance on lease accounting for continuing care retirement community Type A life care contracts is provided in Technical Questions and Answers (TQAs) published Monday by the AICPA. Developed by the AICPA Health Care Expert Panel, TQAs 6400.55–.62 discuss how to: Determine whether an embedded lease exists under FASB ASC Topic 842, Leases; […]
How to get Black female leadership talent into the C-suite
Black Lives Matter and #MeToo, two social movements founded by Black women, have increased pressure on businesses to raise the number of women, particularly Black women and other women of color, in executive positions. For good reason. Women in senior management remain underrepresented in corporate America even though their numbers increased from 17% in 2015 […]
A new internet domain for the CPA profession: .cpa
Today, the AICPA and CPA.com are launching .cpa, a restricted Internet domain exclusively for the CPA profession. Only licensed CPA firms and – starting next year – individual CPAs will be able to sign up for the new top-level domain, a term that refers to the last letters of an email address or website name […]