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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.
The Securities and Exchange Commission has named James Schnurr, a recent Deloitte alum, to be the new head of the Office of the Chief Accountant, replacing an outgoing Paul Beswick, who had been serving in that position since 2012. In this role, he will be responsible for establishing and enforcing accounting and auditing policy as well as improving the professional performance of public company auditors in order to enhance the transparency and relevancy of financial
Sometimes it happens. Maybe happy hour turned into a happy four hours before realizing with alarm that it's now tomorrow and you need to get home. Maybe your apartment's heating system makes this weird, persistent clicking noise that wouldn't be so bad if not for the fact that the clicks are irregular, without pattern, and so you tense up after each one anticipating the next all night long.
People young and old are often told that they should strive to do what they love for a living, to merge work and play so as to create a fulfilling career that won't leave you feeling like Willy Loman at the end of Death of a Salesman. An article on The Medium points out that this may not always (or even mostly) be the best idea.
While taxes have remained the number one source of accounting deficiencies, inventory reporting has been creeping up the ladder until now, according to Audit Analytics, it is a close second in number of deficiencies, according to the Wall Street Journal. Large companies disclosed deficiencies in their procedures to account for inventory, vendors and cost of sales 38 times last year, said the Journal.
Burger King has announced plans to buy Canadian coffee and donut chain Tim Horton's for the princely sum of $11.4 billion, a deal that will also allow Burger King to take advantage of Canada's lower tax rate, said the LA Times--the combined federal, state and local corporate tax rate in Canada is 26.3 percent, versus 39.1 percent for the U.S. Burger King, however, has said that the move is not motivated by tax considerations.
Corporate inversions have gone from accelerator to brakes in a very short time as increasing scrutiny and pressure on companies seeking to move overseas has put some deals in doubt, according to Bloomberg.
In the U.S. it's generally understood that unless you have direct deposit, it can take at least a day or two for a check to clear and money to be taken from one account and put into another. What is generally not known, even to this blogger until recently, is that this is a fairly U.S. specific phenomena within the developed country club, according to the Business Insider.