Accounting

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October 3, 2014 

IRS Issues New Rules for Local Hotel Expenses

Normally, a taxpayer may deduct travel expenses, including the cost of lodging, only when he or she is “away from home” on business. For this purpose, home means your tax home, usually the area surrounding your principal place of business ...

Ken Berry, JD

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October 2, 2014 

New Cabinet AP Module Automates Accounts Payable Tasks

Cabinet Document Management Solutions has launched Cabinet AP, a new module for its Cabinet SAFE product that is designed to automate manual processes in document-intensive tasks like accounts payable processing. Cabinet is a maker of electronic document

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October 1, 2014 

The Three Rs of Travel & Entertainment Deductions: Records, Records and More Records

[This is the last in a series of articles on maximizingdeductions for travel and entertainment (T&E) expenses.] In the not-so-distant past, the IRS often suspected that deductions for travel and entertainment (T&E) were being inflated or, even worse, being claimed when no legitimate expenses existed. Eventually, it carved out a strict set of recordkeeping requirements for...…

Ken Berry, JD

 Corporate Boards  of Directors are Focusing More on Risk Oversight

September 30, 2014 

Corporate Boards of Directors are Focusing More on Risk Oversight

Corporate boards are giving more attention to their risk oversight responsibilities, but as the risk landscape becomes increasingly complex, directors say they are less comfortable with their understanding of their company’s risk appetite, according to PwC’s 2014 Annual Corporate Directors Survey. The evolution of strategy oversight also continues, the report shows, as directors assess whether...…

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September 30, 2014 

2014 Review of Nonprofit Accounting Systems

Like all businesses, nonprofits need to track expenses, monitor income, create budgets, and produce financial statements. Also unlike their for-profit counterparts, nonprofits also need to track programs, membership dues, association fees, donations and grant funds.

Mary Girsch-Bock

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September 29, 2014 

Accountants in India Now Eligible to Take U.S. CPA Exam

The American Institute of CPAs (AICPA), the National Association of State Boards of Accountancy (NASBA) and Prometric today announced that testing for the Uniform CPA Examination in the Middle East will be open to all qualified citizens and permanent resi