FASB posted a staff Q&A document to its website Friday that is designed to clarify pandemic-related questions about lease accounting. As a result of economic disruptions caused by the pandemic, many lessors will provide lease concessions to tenants. The Q&A states that for concessions related to the effects of the coronavirus pandemic, an entity will […]
Archives for 2020
Critical VMware Bug Opens Up Corporate Treasure to Hackers
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Supply of essentials gets caught up as lockdown tightens
Consumers are finding it difficult to buy food, groceries and other essential goods at retail stores and through e-commerce platforms after several states intensified efforts to lock down the so-called Red Zones with a higher density of Covid-19 positive cases. According to a survey by community platform LocalCircles, the percentage of consumers who were able […]
Guidance on NOL carryback and tentative carryback adjustments
The IRS provided guidance on how taxpayers who want to elect to waive or reduce the new provision requiring taxpayers with net operating losses (NOLs) arising in tax years beginning in 2018, 2019, and 2020 to carry them back five years (Rev. Proc. 2020-24). The IRS also extended the deadline for filing an application for […]
The IRS has a new website where you can get your stimulus relief check if you’re not required to pay taxes
US Treasury Secretary Steven Mnuchin arrives to testify during a House Ways and Means Committee hearing about the Fiscal Year 2021 budget request on Capitol Hill in Washington, DC, March 3, 2020. Saul Loeb | AFP | Getty Images The IRS and the U.S. Treasury on Friday launched a new IRS website where people who aren’t required […]
Moroccan companies begin ventilator production
RABAT (Reuters) – Morocco has started manufacturing its own ventilators with oxygen masks, with 500 expected to be ready by mid-April to help meet demand caused by the COVID-19 pandemic, the Industry Ministry said. The North African kingdom has confirmed 1,431 cases of the novel coronavirus, including 105 deaths, and is seeking to raise the […]
ETtech Top 5: Hyperlocal model gets a new lease of life, brands go big on face masks & more
Illustration: Rahul Awasthi Hyperlocal model gets a new lease of lifeHyperlocal delivery of food and groceries is making a comeback. As India went into lockdown, e-commerce firms started forging partnerships with brick-and-mortar stores to cater to the spike in demand of essential goods. The modelHyperlocal delivery, which involved picking up goods from neighbourhood mom-and-pop stores […]
BankBazaar raises Rs 29 crore from Amazon, other investors
Financial services marketplace BankBazaar has raised Rs 29 crore as part of its ongoing Series D round from existing investors including Amazon, Sequoia and Walden SKT Venture Fund, according to its filings with the Registrar of Companies. This funding comes more than two and a half years after the global credit rating agency Experian had […]
COVID-19: Latest News & Commentary for IT Leaders
Check here regularly for InformationWeek’s updates on the coronavirus pandemic and related issues like business continuity, remote working, IT operational challenges and other technology considerations. Image: Thaut Images – stock.adobe.com Week of 04/06/2020 Businesses Rewrite 2020 Budgets and Plans Amid COVID-19 A few new surveys of executives and business leaders provide some insight into shifting […]
Digital transformation peak: where the channel goes from here
The technology industry has come to a precarious position. Although businesses today understand the importance of technology for achieving their objectives, they are also experiencing ‘digital transformation’ fatigue, says Abel Smit, sales director, data solutions & IoT at Tech Data. Numerous organisations have grown tired of technology implementations that do not live up to the […]