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Seven out of 10 Americans polled think the most recent financial crisis has done permanent damage to the economy and that this is basically what counts as normal now, as opposed to 45 percent of Americans asked the same question in 2007, according to a poll conducted by Rutgers University. Further, 16 percent of survey respondents said things would be better for the next generation, a steep drop from 2009's 40 percent, which itself was a drop
The Marketing Accountability Standards Board (MASB), an organization that formed in 2004 to find ways to objectively tie marketing to financial performance, has called for including brands as an asset on the balance sheet, which current accounting rules, both in GAAP and IFRS, do not, according to the Economist. The Economist noted that while the Coca Cola brand is valued at $79.2 billion, the company rolls it into t
While much attention lately has been placed on corporate inversions, the New York Times notes that they are simply one more example of companies finding new and innovative ways to minimize their tax burden, something that has led to corporate tax revenue making up less and less of the country's overall budget every year.
For years, a business was not responsible for employment-related matters at another business unless it exerted direct control over that employee. All that might change as the National Labor Relations Board considers revising this 30-year-old standard, much to the chagrin of industries such as fast food and construction that make heavy use of contractor labor, according to the Wall Street Journal.
In the wake of the most recent financial crisis, many banks have been enticing customers to deposit their money through rewards points that can be exchanged for things like plane tickets, laptops, fancy sunglasses or fishing rods. While this bears similarity to frequent flyer miles, which are generally not taxed, a tax court has decided they're not similar enough when it recently decided that these points count as taxable income, said Forbes.
The Financial Accounting Standards Board (FASB) has issued new guidance on the presentation of going concern uncertainties, which is meant to define just what management is responsible for when evaluating whether there's substantial regarding an entity's ability to continue as a going concern, as well as requiring new related footnote disclosures.
Since the most recent financial crisis, the number of people telecommuting has grown by 80 percent and while such arrangements typically call to mind sweatpants-clad slackers watching Netflix while their hardworking office colleagues do the real work, a new study from Stanford University has found this may not necessarily be the case, according to Forbes.
The Securities and Exchange Commission (SEC) is working on guidance that would help clear some of the confusion for public filers around the Financial Accounting Standards Board (FASB) standard on revenue recognition, which would collapse numerous industry-specific rules into a single measure that would be based on the recognition and fulfillment of performance obligations in a contract, according to Compliance Week.
A recent survey showed that cash might soon become synonymous with pants hiked up to the armpits, "keep off my lawn!" and complaining about kids these days: that is, it's mostly older people who are using it, versus younger people who prefer plastic, said an article in CNBC. The survey, conducted by a credit card website, found that 51 percent of consumers aged 18-29 prefer using cards on purchases of $5 or less, while 82 percent of those 65 and older prefer cash for small purchases.