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August 9, 2021

Prepared for Voornaam

Tax guidance on NFTs remains a murky area

By Michael Cohn       5 min read

The booming market for nonfungible tokens is showing no signs of slowing down as investors pour money into digital collectibles, but the tax rules surrounding NFTs are anything but clear.  View story →

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Accounting Today

Editorial Team

On the move: Weaver names SPAC leader

By Danielle Lee      

Grant Thornton and Armanino open new offices; Friedman + Huey announces new managing partner; and more CPA news.  View story →

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On the move: CalCPA installs new chair →

LCPA presents annual awards; Louis Plung & Co. celebrates 100 years of service; and more news across the profession.

Firms giving back: Berdon LLP joins NY Mets for STEM program

By Sean McCabe      

Eide Bailly's Sioux Falls office holds its annual Community Day; and Top 100 Firm Sikich partners with an Illinois startup incubator. View story →

Bloomberg Tax & Accounting enters income tax provision space

By Ranica Arrowsmith       2 min read

The company acquired Tax Prodigy, which calculates income tax-related elements of financial statements. View story →

Employers added 943K jobs in July, including 8.4K in accounting

By Michael Cohn       3 min read

Employment increased by 943,000 last month, beating expectations, including 8,400 jobs in accounting and bookkeeping, while the unemployment rate fell from 5.9 to 5.4%. View story →

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FASB to allow private companies a practical way to account for share-based awards

By Michael Cohn       2 min read

The Financial Accounting Standards Board has endorsed a recommendation from its Private Company Council to allow a practical expedient for a private company to determine the current price input of equity-classified share-based awards issued to both employees and nonemployees.  View story →

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Wolters Kluwer updates dashboards for CCH Data Axcess

By Ranica Arrowsmith       2 min read

Wolters Kluwer Tax & Accounting has released a new version of the Accounts Receivable & Collections Dashboard, and other enhancements to existing dashboards in its CCH Axcess Data Axcess expert solution. View story →

Embrace continuous accounting to close the monthly books faster

By Oded Zehavi       3 min read

For most businesses, the monthly close is simply too time-consuming.  View story →

Top Senate Democrat targets derivatives investors

By Laura Davison       2 min read

Wyden’s proposed legislation would require them to pay tax annually on unrealized gains.  View story →

Schumer puts infrastructure plan on path toward passage

By Steven T. Dennis, Laura Litvan and Laura Davison       3 min read

Among the unresolved issues is how to modify a provision dealing with reporting requirements for cryptocurrency transactions.  View story →

RSM to acquire C Systems and Confluence Global

By Michael Cohn       2 min read

C Systems specializes in nonprofit tech services and association management systems, and Confluence Global is a Salesforce consulting partner. Read story →

'Experiential accounting': Managing the experience for client and staff alike

By Lyle Ball       3 min read

It’s time we apply the principles of customer, brand and product leadership to the accounting experiences we create and drive among our clients, practitioners and managers. Read story →

Tax Fraud Blotter: Millions lost

By Jeff Stimpson       6 min read

Living on borrowed time; seed money; two down; and other highlights of recent tax cases. Read story →

IRS urges tax pros to combat unemployment identity theft fraud

By Michael Cohn       4 min read

The Internal Revenue Service is asking tax professionals to help clients who fell prey to identity thieves who have been filing unemployment claims in their names during the pandemic. Read story →

Zeni receives $34M in funding for AI bookkeeping

By Michael Cohn       3 min read

The startup uses artificial intelligence to track cash flow and do bookkeeping. Read story →

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