Accounting News 9.3.2018

Top Accounting News This Week

Accounting News 9.3.2018

 

FASB taking steps to clarify reporting standards for cloud costs

 

In years past, there has been much confusion on reporting standards for certain cloud computing costs due to the nebulous nature of these licensing agreements. However the FASB has recently released specific guidelines for these fees.  Read more…

https://www.complianceweek.com/blogs/accounting-auditing-update/fasb-updates-guidance-on-cloud-computing-costs#.W41e-ehKjD5

 

New Product gives echecks a makeover

 

Quickbooks online and Deluxe Corp have partnered to create a new echeck writing solution for business owners.  This is not only an aesthetic upgrade, but also offers better functionality.  Read more about this new product here…

https://www.accountingtoday.com/news/deluxe-corporation-creates-e-check-app-for-qbo

 

New tax form for seniors

The exclusion of senior taxpayers for the 1040EZ filing form has been a commonly acknowledged issue for years.  Now, the BBA has commissioned the Secretary of treasury to procure a similar form, 1040SR, exclusively for the use of senior taxpayer filing. Read the full story here…

https://www.thetaxadviser.com/newsletters/2018/aug/new-form-simplify-tax-compliance-seniors.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=31Aug2018

 

Are stocks due for significant adjustment?

After conducting extensive research, the Economic Cycle Research Institute’s Lakshman Achuthan has created a corrective chart that forecasts potentially negative corrections in the following months.  For the full story, click here…

https://www.cnbc.com/2018/08/31/this-chart-suggests-stocks-face-heightened-risk-of-10-20percent-correction.html

 

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