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The new Financial Accounting Standards Board rental accounting standard, ASC 842, entered into force for public transport and logistics companies last year. The FASB recently proposed to extend the deadline for closed companies to annual periods beginning after December 15, 2020 by one year, which as of August 2019 was still undecided. The new rules …

A former Stratford company accountant has been sentenced to 30 days in jail for embezzling more than $130,000 from her employer. Susanna Kurus pleaded guilty in March to one count of wire fraud for embezzling $133,870.55 from Expand International of America, a maker of displays and banner stands. Between October …

The American Institute of CPAs has a new standard for forensic accounting to take effect early next year, and it promises to give CPAs a head start in terms of credibility by providing litigation support as expert witnesses to the bar during the trials. The AICPA released the standard in July (see AICPA Releases New …

By the end of 2019, the majority of accounting firms will offer client accounting services (CAS), according to Accounting Today’s annual outlook survey. This trend of offering a broader set of services seems like a win for accountants and their clients, but it also poses a big challenge for companies offering services that may be …