Los Angeles Accounting & Business Management Firms Merge

January 24, 2014 

Los Angeles Accounting & Business Management Firms Merge

Business management firm Kaufman + Bernstein, Inc. has merged with RBZ, LLP, one of the largest Los Angeles-based accounting and business management firms, adding 19 new members to RBZ’s business management practice.

 IRS Modifies Automatic Consent Rule for Method of Accounting

January 24, 2014 

IRS Modifies Automatic Consent Rule for Method of Accounting

The Internal Revenue Service has announced the release of Revenue Procedure 2014-16, which modifies the procedures for obtaining the automatic consent of the Commissioner for certain changes in methods of accounting for amounts paid to acquire, produce, or improve tangible property.

 Some Restaurants Dropping Automatic Tips For Large Groups

January 23, 2014 

Some Restaurants Dropping Automatic Tips For Large Groups

Like most other restaurants in Maine, DiMillo's On the Water in Portland says it will no longer charge automatic gratuities for most large groups now that a change in the federal income tax code has closed a long-standing loophole.

Change-in-Nonfarm-Private-Employment-December-2013

January 22, 2014 

Report: December Was Strongest Jobs Growth Month in 2013

U.S. private-sector franchise jobs increased by 30,250 during the month of December 2013, according to the ADP National Franchise Report. BThe report measures monthly changes in franchise employment derived from ADP’s actual transactional payroll data.

 Experts Warn of Scam Emails About Data Breach at Target

January 22, 2014 

Experts Warn of Scam Emails About Data Breach at Target

In the aftermath of the data breach that potentially exposed the credit and debit card information for 80 million shoppers, Target sent out an official email stating that the company would offer one free year of credit monitoring through Experian.

 FASB Issues New Accounting Guidelines for Goodwill and Interest Rate Swaps

January 22, 2014 

FASB Issues New Accounting Guidelines for Goodwill and Interest Rate Swaps

The Financial Accounting Standards Board (FASB) today issued two updates to U.S. generally accepted accounting principles (GAAP) that provide alternatives for private companies on the subsequent accounting for goodwill and for interest rate swaps—specifically a simplified hedge accounting approach for certain types of swaps.