1. Recent Articles

    1. What Is ASEAN? If Nothing Else, a Job Creator for Georgia - Global Atlanta

      What Is ASEAN? If Nothing Else, a Job Creator for Georgia - Global Atlanta

      To those uninitiated in the lingo of global trade, ASEAN might look like a capitalized misspelling of “Asian.” But in reality, it represents an economically vibrant bloc in that very region that is home to nearly a tenth of the global population, some 625 million people. And according to a new report, U.S. trade with these 10 countries on the other side of the world resonates significantly back here at home.

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    2. It’s Time to Tie Executive Compensation to Sustainability

      It’s Time to Tie Executive Compensation to Sustainability

      In the 1980s, when quality became a significant issue for manufacturers, many of them added quality metrics to their executive compensation plans. Over the next decade, quality levels improved substantially. It’s time for companies to start doing the same thing for sustainability. Companies should tailor their sustainability efforts to their commercial priorities. For example, Coca-Cola devotes many resources to creating cleaner water supplies in developing countries.

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    3. Accounting and Reporting for Business Combinations

      From reaching new geographic markets to expanding product offerings, mergers, acquisitions, and other types of business combinations offer many benefits to the parties involved. However, the initial accounting for the business combination can be complicated and often requires extensive time and effort. The authoritative accounting and reporting guidance for business combinations under US GAAP is included in Topic 805, Business Combinations, of the FASB Accounting Standards Codification.

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    4. Groups weigh in with SEC on PCAOB audit report standard | Accounting Today

      Accounting and financial firms and business groups are sending comment letters to the Securities and Exchange Comment ahead of a deadline Friday for approving a new standard from the Public Company Accounting Oversight Board on expanding the scope of audit reports. In June, the PCAOB voted to approve a new standard that would significantly change the auditor’s reporting model, adding a section discussing “critical audit matters” (see PCAOB makes major changes to auditor’s report).

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    5. IRS penalizes more taxpayers for underpayment of estimated taxes | Accounting Today

      The Internal Revenue Service has seen a surge in recent years of taxpayers underpaying their estimated taxes and paying the penalty for it. The number of taxpayers who were penalized increased nearly 40 percent from 7.2 million to 10 million filers between 2010 and 2015, according to IRS data analyzed by The Wall Street Journal, or nearly 33 percent from almost 7.5 million to nearly 10 million filers between fiscal years 2007 and 2016, according to a similar analysis by USA Today.

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    6. FASB Proposes Improvements to Not-for-Profit Accounting for Grants and Contributions

      FASB Proposes Improvements to Not-for-Profit Accounting for Grants and Contributions

      The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standard Update (ASU) intended to clarify and improve the scope and the accounting guidance for contributions received and made, primarily by not-for-profits. Stakeholders are asked to review and provide comment on the proposed ASU by November 1, 2017.

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    7. Sales Tax Amnesty Program Extends to 13 States | CPA Practice Advisor

      The Multistate Tax Commission ("MTC"), in conjunction with 13 member states, has announced the launch of a sales tax amnesty program aimed at helping online sellers to become compliant with sales tax nexus regulations. This program was born from discussions that MTC Program Director, , had with Amazon sellers when he presented to more than 1,000 established Amazon sellers at the internet marketing event, PROSPER Show, in .

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    8. Survey Shows Nonprofits Most Concerned with Staffing and Funding Cutbacks

      Survey Shows Nonprofits Most Concerned with Staffing and Funding Cutbacks

      Staff retention and recruitment ranks as the number one challenge for nonprofits, according to the first annual BDO Nonprofit Standards, a benchmarking survey designed in partnership with The NonProfit Times. More than 70 percent of respondents cited those staffing concerns. Cutbacks in funding and drops in revenue follows, identified by 48 percent of nonprofits.

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    9. Lessons learned on the path toward revenue recognition implementation | Accounting Today

      We have less than 200 days to go until the 2018 effective date for public companies for the new revenue recognition standard, and many accounting and finance professionals are in high gear preparing their organizations and clients for the transition. With so much focus on implementation, I wanted to share some lessons learned from three companies that have either adopted or are well along in adopting the new revenue recognition standards.

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    10. Key Performance Indicators (KPIs) You Should Track for Your Small Business | FreshBooks Blog

      Key Performance Indicators (KPIs) You Should Track for Your Small Business | FreshBooks Blog

      Key Performance Indicators (KPIs) can keep you on track and let you know whether your efforts are paying off. KPIs will also help you determine if you’re spending too much time on something that’s not worth it and prioritize your tasks accordingly. A 2016 survey by Geckoboard found that nearly half of small and medium-sized business owners have failed to identify any Key Performance Indicators (KPIs).

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    11. Analytics Training Isn’t Enough to Create a Data-Driven Workforce

      Analytics Training Isn’t Enough to Create a Data-Driven Workforce

      When it comes to creating a more data-and-analytics-driven workforce, many companies make the mistake of conflating analytics training with data adoption. While training is indeed critical, having an adoption plan in place is even more essential. Any good adoption plan requires online or recorded refresher sessions; mentors; online resources for questions, feedback, and new ideas; and a certification process.

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    12. Ending Federal Tax on U.S. Corp. Profits Abroad Likely to Have Little Effect

      Ending Federal Tax on U.S. Corp. Profits Abroad Likely to Have Little Effect

      As corporate tax reform emerges as a national legislative priority, a key proposal is to scrap the current worldwide system of taxation (in which income earned abroad by subsidiaries of U.S. multinationals is subject to federal taxes when brought home) in favor of a territorial system that would enable U.S. parent companies to receive profits from those subsidiaries without incurring a federal levy.

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    13. Properly classifying workers remains a major problem | Accounting Today

      Worker misclassification is a perennial issue for the Internal Revenue Service and state taxing authorities due to the perception that many employers are not properly classifying their workers. By avoiding labeling their workers as employees, employers also avoid paying minimum wages, overtime, payroll taxes, worker’s compensation, unemployment, Social Security contributions, health benefits, paid leave, 401(k) benefits and unpaid leave under the Federal Family and Medical Leave Act.

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    14. IRS may be missing billions in taxes from employer underreporting | Accounting Today

      The Internal Revenue Service could be foregoing billions of dollars in potential taxes because tens of thousands of employers are underreporting the amount of their workers’ wages and withholding taxes, according to a new report. The report, from the Treasury Inspector General for Tax Administration, examined the IRS’s Combined Annual Wage Reporting Program, which compares the employee wage and withholding information reported to the IRS on employment tax forms with the withholding documents filed by employers with the Social Security Administration. The CAWR Program aims to make sure employers report the correct amount of employment taxes and federal income ...

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    6. Quotes

      1. We're certainly seeing a good increase in million-dollar gifts and above as well, at least reaching last year's total but most likely the trend suggests that we will surpass last year.
        By Don Fellows
      2. The strong pace of job growth continued in November as the unemployment rate held at its lowest level since April 2008 and labor force participation ticked up.
        By Jason Furman
      3. In today's fast-paced and increasingly competitive marketplace, corporate executives and line-of-business (LoB) managers need easy access to reliable KPI data that can help them make real-time business decisions.
        By Jeffrey M. Kaplan
      4. Organizations want to have the ability to leverage server and storage and networking technology from a variety of vendors and to be able to run the applications on the best suited hardware, whether it's in their data center or in the cloud.
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      5. Venture Atlanta continues to play a significant role in spotlighting the Southeast as an epicenter of entrepreneurial innovation and success.
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