Stocks making the biggest moves midday: Apple, DraftKings, Biogen, Williams-Sonoma and more
cnbc.com...Apple -- Apple shares fell 2% following a report that iPhone production could take a big hit due to unrest at a Foxconn factory in China, amid protests in China against the nation's zero-Covid policy.... ...Williams-Sonoma -- Shares tumbled 4.7% after Morgan Stanley downgraded the home furnishings stock to underweight, saying shares could fall further as demand weakens in a difficult macro environment....
IRS prodded to make more progress on closing tax gap
accountingtoday.com > news...The Internal Revenue Service is being pushed by the Government Accountability Office to do more to close the $428 billion annual tax gap by using the extra $80 billion it's getting over 10 years from Congress to improve compliance.... ...The IRS continues to face accounting and technology challenges as well, according to the GAO. "Limitations in the systems IRS uses to account for federal taxes receivable and other unpaid assessment balances continued to exist during fiscal year 2022," said the report....
How Not-for-Profit Organizations Can Prepare for an Economic Downturn
mossadams.com > articles...With inflation rates soaring to 8.2% as of September 2022, the Federal Reserve has responded by increasing the federal funds interest rate in hopes of cooling down the economy. As this rate increases, the cost of borrowing increases, typically leading to less consumer spending....
Stocks making the biggest moves in the premarket: Apple, Taboola, Biogen and more
cnbc.com...A person familiar with assembly operations told Bloomberg that Apple and Foxconn do expect to be able to make up that shortfall in 2023. Apple slid 1.7% in premarket trading.... ...Wynn Resorts (WYNN), MGM Resorts (MGM), Melco Resorts (MLCO), Las Vegas Sands (LVS) -- Casino stocks rallied in off-hours trading after the Chinese government granted the companies provisional licenses to continue operating in Macau....
M&A roundup: Weiss and BST expand
accountingtoday.com > list...A group of House lawmakers on both sides of the aisle is pushing to expand the Low-Income Housing Tax Credit as the supply of affordable housing remains tight.... ...In this edition of The Frontier, Dr. Sean Stein Smith explains why some accounting work has been more difficult to automate due to lack of standardization between cases....
4 steps to building a successful CAS practice in a traditional CPA firm
journalofaccountancy.com > news > nov...4 steps to building a successful CAS practice in a traditional CPA firm. Client advisory services (CAS) is one of the fastest-growing practice areas in the accountancy profession, with consistent double-digit revenue growth in recent years.... ...Kalil Merhib, vice president of growth and professional services at CPA.com, and Matt Gardner, CPA, the CEO and co-founder of hiline, a CAS practice that evolved from a boutique accounting and strategy firm, suggest the following four tips for integrating a CAS practice into a traditional...
Lawmakers push to expand housing tax credit
accountingtoday.com > news...Suzan DelBene, D-Washington and Brad Wenstrup, R-Ohio, led 54 members of Congress in a bipartisan letter Monday urging House leaders to address the growing affordable housing shortage in the U.S.... ...of the Affordable Housing Tax Credit Coalition, in a statement Monday....
Are you ready for tax season?
accountingtoday.com > podcast...Withum's Ed Mendlowitz offers a host of tips and strategies you can implement now for a better busy season. Welcome to On the Air With Accounting. I'm editor-in-chief Dan Hood.... ...Ed, thanks for joining us. Thank you, Dan. Nice to be here. Yeah, this is, as I said, a big topic and one I know you think a lot about, so we're psyched to have you with us....
New spreadsheet solution seeks to cut down on errors
accountingtoday.com > news...Data intelligence solutions company Alation announced the release of its new Connected Spreadsheets solution, which aims to cut down on data entry errors by facilitating direct importation of data into spreadsheets.... ..."Harnessing the power of an organization's data to drive fast, accurate business decisions is challenging for any employee," said Raj Gossain, Alation's chief product officer, in a statement....
Art of Accounting: 5-point staff evaluation
accountingtoday.com > opinion...Jimmy Johnson in his new book Swagger suggests the job of a coach is to evaluate talent. He has his own five ways: 1) intelligence; 2) works hard; 3) playmaker; 4) loves to compete; and 5) character. Each of Jimmy's five ways can relate to mine....