Accounting

 GASB Proposes Improvements to State and Local Post Employment Benefits Reporting

June 18, 2014 

GASB Proposes Improvements to State and Local Post Employment Benefits Reporting

On Monday, the Governmental Accounting Standards Board (GASB) published two proposed Statements intended to significantly improve financial reporting by state and local governments of other postemployment benefits (OPEB), such as retiree health insurance. The GASB also published a third Exposure Draft that would establish requirements for pensions and pension plans that are outside the scope…

Isaac M. O'Bannon

 FASB Issues New Standard on Reporting of Repurchase Agreements

June 18, 2014 

FASB Issues New Standard on Reporting of Repurchase Agreements

The Financial Accounting Standards Board (FASB) has issued a new standard to improve the financial reporting of repurchase agreements and other similar transactions. Accounting Standards Update No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements.

Isaac M. O'Bannon

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June 17, 2014 

Why Your Firm Should Rethink Cloud Security

Despite the growth of cloud-based technology, many accountants are hesitant to move all of their client data and firm management systems online. A survey conducted by CPA2Biz last fall found that 43 percent of CPAs have their doubts about the security of cloud-based applications, feeling “somewhat confident” or “not confident at all.”

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June 17, 2014 

Ohio Accountancy Board Approves 10-Minute CPE Program

The Accountancy Board of Ohio and the Ohio Society of CPAs has approved a new CPE program that offers certified professional education in 10-minute increments. Ohio joins the Maryland Association of CPAs in the new 10-minute CPE program, which it announced on May 30 of this year, following approval by the Maryland State Board of…

Isaac M. O'Bannon

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June 17, 2014 

QuickBooks Connect to Bring Together SMB Owners, Accountants and Developers

Intuit, the company behind QuickBooks, TurboTax and many other financial and business technologies, has announced that it will hold its first-ever multi-community user conference. The event, called QuickBooks Connect, will offer entrepreneurs, small business owners, accountants and developers a unique experience "to come together, be inspired and get growing."

 The Importance of CIOs in the Wireless Age

June 17, 2014 

The Importance of CIOs in the Wireless Age

The explosion of wireless broadband networks is ushering in a new era of promise for corporations and heightening the prominence of Chief Information Officers, Chief Technology Officers and other senior corporate technology mangers, according to a new report.

Isaac M. O'Bannon

 Florida Woman Faces Embezzlement, Wire Fraud Charges

June 17, 2014 

Florida Woman Faces Embezzlement, Wire Fraud Charges

According to the complaint, Gingell embezzled $697,000 from the summer of 2010 to March 2011 by sending money by wire transfer to her bank account and making money orders payable to herself and others. One of the wire transfers paid the remaining $40,000 balance of her mortgage, according to the complaint. Gingell made 71 wire…

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June 16, 2014 

Ohio CPA Society Endorses Candidates for State Supreme Court, Auditor

The Ohio Society of CPAs (OSCPA) has announced the candidates it is endorsing for the 2014 Ohio General Election races. On behalf of its 21,000 members, OSCPA has endorsed Justices Judith French and Sharon Kennedy for Ohio Supreme Court, and Dave Yost for re-election as Ohio’s state auditor.

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June 16, 2014 

2014 Review of Small Business Accounting Systems

Selecting a small business accounting package is, in some ways, like purchasing a piece of home exercise equipment. The solution needs to meet your needs, be easy to use, should fit within your budget, and should be pleasant enough to use that the client will actually keep their books after the first week or two.

Brian Tankersley