Arbonne products Source: Arbonne Multilevel marketing company distributors are asking for cash donations so they can buy their own supplies to give to first responders, doctors and nurses and others on the front lines of the COVID-19 pandemic. But experts warn this is a marketing ploy to improve sales volume and that consumers’ donation money […]
Archives for 2020
TurboTax to Help Millions of Americans Get Their Stimulus Payments with Launch of Free Stimulus Registration Product
TurboTax Encourages Taxpayers to File Their 2019 Tax Return to Receive Their Refund and Stimulus Payment Faster or Register through the TurboTax Stimulus Registration to Ensure They Receive Their Stimulus Payment SAN DIEGO–(BUSINESS WIRE)– TurboTax, the nation’s leading online tax preparation service from Intuit Inc. (Nasdaq: INTU), today launched a free, Stimulus Registration product designed […]
Iran completes oil products storage terminal, names it after Soleimani – ILNA
DUBAI (Reuters) – The National Iranian oil Refining and Distribution Company has completed a new oil products storage terminal in northwestern Iran, named after slain military commander Qassem Soleimani, the semi-official news agency ILNA reported on Saturday. The terminal, in Orumiyeh, has the capacity to store 118 million litres of oil, gasoline and kerosene, it […]
Amazon to delay Prime Day sales event due to coronavirus
Amazon is postponing its major summer shopping event Prime Day until at least August and expects a potential $100-million hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters. Amazon declined to comment. Prime Day, a marketing event Amazon started in 2015 to drum […]
E-commerce firms tie up with retailers and e-grocers to help in last mile delivery
Illustration: Rahul Awasthi Several food delivery services, cab and bike taxi aggregators, and non-essential ecommerce firms are joining hands with retail chains and online grocers to supply groceries to consumers stuck at home because of the lockdown. Uber, Domino’s Pizza, Rapido, Zypp, Swiggy, Zomato and Scootsy have all ventured into grocery delivery in partnerships with […]
Remittances to Bharat hit by return of the native
Domestic remittances, usually from big cities and more affluent areas to India’s rural hinterland, plunged about 80% in the past two weeks, triggered likely by a sudden loss of jobs and the return of the migrant workers to their homes. The Centre’s decision to transfer funds directly to their bank accounts might cushion the impact, […]
PCAOB Issues Spotlight for Audits Nearing Completion in Light of COVID-19
The Public Company Accounting Oversight Board (PCAOB) has released a new staff PCAOB Spotlight document, COVID-19: Reminders for Audits Nearing Completion, to provide important reminders to auditors of issuers and broker-dealers for audits nearing completion. Reasons for Issuance of the PCAOB Spotlight Explaining the decision to issue the new Spotlight, Chairman William D. Duhnke III said, […]
GASB Issues Statement No. 93 for Transition from LIBOR
The Governmental Accounting Standards Board (GASB) has issued Statement No. 93, Replacement of Interbank Offered Rates, to assist state and local governments in the transition away from existing interbank offered rates (IBORs), including the London Interbank Offered Rate (LIBOR) to other reference rates. Variable payment rates based on LIBOR Some governments have entered into agreements […]
CPAs support business owners during COVID-19 crisis
The phones started ringing immediately when Congress passed the first legislation related to the economic effects of the coronavirus in mid-March. WellsColeman, a 37-employee firm in Richmond, Va., received a surge of small business client inquiries on related employment issues. In response, George Forsythe, CPA, the firm’s managing partner, scheduled a Zoom call with a […]
Financial institutions using CARES Act deferrals won’t violate GAAP, SEC says
Eligible financial institutions will not be in violation of GAAP if they take advantage of the deferrals or suspensions of two FASB standards as permitted in the new federal coronavirus relief law, SEC Chief Accountant Sagar Teotia said Friday in a statement issued by the commission. The $2 trillion Coronavirus Aid, Relief, and Economic Security […]