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MANILA – The Insurance Commission (IC) has started the countdown for the nation’s insurance companies to transition to a new set of accounting policies that will make their financial reporting more transparent, especially to the investing public, and universally comparable. During a webinar on the new accounting system held last week, IC Deputy Commissioner Ferdinand …

The ATO has reported that the new amended AASB accounting standards will apply from July 1, 2021, which could affect the trust deeds of some SMSF when presenting financial statements. In June 2020, the ATO had informed that new amended accounting standards had been issued by the Australian Accounting Standards Board (AASB). The AASB 2020-2 …

The American Institute of CPAs Executive Financial Reporting Committee has released draft versions of its interpretations of the Financial Accounting Standards Board’s new long-term assurance accounting standard. The standard, which the FASB published in 2018, makes specific improvements to its existing assurance standards for the recognition, measurement, presentation and reporting requirements for long-term contracts issued …

Sarah Potrzebowski, 40, from Chesterton. Provided CHESTERTON – An accounting director at the Duneland Chamber of Commerce faces charges of theft and conversion for more than $ 11,000 in funds acquired between late 2019 and early 2020. Sarah Potrzebowski, 40, of Chesterton, is accused of exercising unauthorized control over money belonging to the House by …

The CA Institute has developed an exposure draft for a revised accounting standard on income taxes, applicable to entities that are not required to adopt Indian accounting standards (Ind AS) notified by the Department of Commercial Affairs. Currently, all listed and unlisted companies – with a net worth of 250 crore and above – are …

Sage Group profits fall 30% as subsidiary sales decline but accounting software sales rise Sage only received £47m in disposals, down from £147m the previous year The company is becoming a Software as a Service (SaaS) company Growth came from its Business Cloud software and growing customer base By Harry Wise Because it’s money Published: …

How do you know which construction accounting software is best for your business? This article will acquaint you with the best construction accounting software available – both desktop and cloud. But before weighing your options, it’s important to understand how accounting software for construction companies is different from most typical businesses. accounting software. QuickBooks Desktop: …

Healthy cash and investment balances, tax collection and declining long-term debt have put the Mission district in a strong financial position if it needs to borrow, its accountancy manager said. . Council approved the District’s draft 2020 financial statements on May 3, following the accounting report. “We’re in a very good financial position right now, …

This column is a review of an exciting new book, “The Definitive Success Guide to Client Accounting Services (CAS)” by Hitendra Patil. I remember calling Hitendra a few years ago about an article he wrote on CAS to ask him what CAS stood for. Today, CAS is an essential service that can only grow much …

The CA Institute is very keen to facilitate the export of professional services now that the government has declared the accounting and financial services sector as one of the “12 champion sectors”. To that end, the CA Institute has now sought feedback from its members on the type of barriers they face when providing outsourcing …

The Financial Accounting Standards Board published a proposal to update accounting standards Wednesday to better align a company’s hedge accounting with its risk management strategies. The proposals are based on coverage standard that the FASB published in 2017, which aimed to better align the economic results of risk management activities with hedge accounting. The new …