While big cybersecurity events dominate the news — most recently the Colonial Pipeline and JBS breaches — cybercriminals are also targeting smaller businesses, and small to midsized accounting firms need to be aware of how to protect themselves. Cybercriminals often use social engineering to get into systems. These phishing attacks can take the form of
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The Federal Accounting Standards Advisory Board released a standard Friday for accounting and financial reporting on government-owned land and delayed the effective date due to the pandemic. Statement of Federal Financial Accounting Standards (SFFAS) 59, “Accounting and Reporting of Government Land,” aims to provide more consistent accounting treatment and reporting for land holdings. The statement
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People exit the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., May 12, 2021. Andrew Kelly | Reuters The Securities and Exchange Commission said Friday it will now require additional disclosures from Chinese companies seeking a listing on U.S. stock exchanges, following Beijing’s intensified crackdown on oversea share issuance. “In light of
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The Justice Department directed the Treasury Department to hand over former President Donald Trump’s tax returns to Congress, a move that means six years of Trump’s personal and business financial information could become public. “We conclude that the secretary must comply with the Ways and Means Committee’s June 16, 2021 request” for the tax returns
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MicroStrategy CEO Michael Saylor on Friday defended his enterprise software company’s debt-financed purchases of bitcoin, telling CNBC he sees buying the cryptocurrency right now as comparable to investing in Facebook in the social network’s early days. “We’ve got $2.2 billion of debt and we pay about 1.5% interest, and we have a very long time
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The Internal Revenue Service, citing security issues, intends to “step up” awareness efforts toward businesses, partnerships, trusts and estates, charities and other entities that hold Employer Identification Numbers. In particular, the IRS wants those entities to update their applications if there has been a change in the responsible party or contact information. This data, the
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If you buy something through our links, we may earn money from our affiliate partners. Learn more. Microwaves provide a level of convenience that makes them the ideal cooking appliance in an office. From warming up drinks and foods to fully cooking snacks and meals, a microwave doesn’t disappoint.  So, do you need a new
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Stefani Reynolds/Bloomberg via Getty Images The IRS began issuing another 1.5 million tax refunds this week to people who received unemployment benefits in 2020. That adds to the nearly 9 million refunds, worth about $10 billion, the agency sent since May. Funds delivered by direct deposit this week started hitting bank accounts on Wednesday, and
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The Senate has begun deliberations over a bipartisan plan to provide $550 billion in new spending for a wide range of infrastructure projects, including roads, bridges, public transit, broadband, and the electrical grid. The good news is that lawmakers avoided raising taxes to cover the cost of the new spending and instead used some reasonable
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A warning from the Securities and Exchange Commission about accounting for the warrants used by special purpose acquisition companies has prompted hundreds of them to issue financial restatements. SPACs, also known as blank-check companies, have become an increasingly popular way for companies to go public by merging a privately held business with a shell company
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