Accounting

Numerous countries, negatively impacted by the pandemic, are revamping their tax laws. The issue of transfer pricing is a top focus as governments look to ensure multinational companies aren’t evading their tax responsibilities by reallocating profits to lower-tax jurisdictions. Transfer pricing refers to the guidelines and practices regulating pricing transactions between businesses under common ownership.
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While not perfect, generally accepted accounting principles are considered the gold standard of accounting rules. Corporations throughout the country use GAAP to prepare their financial statements. Government budgets, on the other hand, are prepared with “wild, wild west” accounting rules: different versions of cash basis accounting. That is why a few governments have enacted laws
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Airwallex launches in U.S. Airwallex, which makes software to manage payments, treasury and expenses across international borders, has launched operations in the U.S. The Australian company offers small and midsized businesses a business account which include cards, international collections and transfers and other value-add services, and an API for larger enterprise businesses that require embedded
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New York-based firm Marcum has released a new data analytics product for audits through Marcum Technology, the firm’s technology arm. Intelligent Prism is an automated data analytics service for firms that don’t have internal data analytics capabilities. Intelligent Prism automates client data consumption and analysis with the aim of increasing audit quality, efficiency and profitability.
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The California Society of CPAs announced that Denise LeDuc Froemming will be its next president and CEO, starting Oct. 18, 2021. Froemming will take over from Rich Simitian, who has been acting CEO since March, when the society’s previous chief, Anthony Pugliese, left to head the Institute of Management Accountants. She will also serve as
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While accountants are among the unsung heroes of the ongoing pandemic recovery, the changing landscape of practice has made them vulnerable to risk. “Practitioners were faced with so many different issues,” observed Ken Mackunis, executive vice president of Aon Professional Firms, the broker and administrator of the AICPA Professional Liability Program. “When the pandemic hit,
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Uniform code of justice; in the rough; color them busted; and other highlights of recent tax cases. Alexandria, Virginia: CPA Endalkachew Asfaw has pleaded guilty to aiding and assisting in the filing of a false return and causing at least a $250,000 loss to the Internal Revenue Service. Asfaw has operated Endalk and Yohannes Associated
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