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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.
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.