September 21, 2019

Friday Footnotes: A (Tax) God Among Men; A CPA Review-sary; CFO Gets Probed | 6.28.19

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Ed. note: Hey look, Footnotes is back! Y’all old-timers may recall Footnotes as a wrap-up of industry news too boring or too esoteric to deserve its own post, but relevant none-the-less. In our ever-present desire to make sure you know the happenings of the profession despite your perpetual indifference, we’ve brought it back. Spot a good story we should include? Want to complain about us ignoring your press release spam about Indiana bacon festivals? Hit us up.

Marcum has a few new partners [Marcum] Congratulate these four dudes and a chick on movin’ on up in the world of not-quite-mid-tier accounting.

The self-study CPA review industry turns 45 [Gleim CPA Review] Gleim announced this week that it’s been 45 years since Dr. Irvin N. Gleim published his first self-study CPA review book. Personally, my extensive knowledge of the CPA review industry only goes back to the late ’90s so forgive me if I can’t swear to the accuracy of this statement, but congrats to them anyway.

How To Explain Crypto Accounting To A CPA Who Doesn’t Understand Cryptocurrency [Forbes] Just what your friendly neighborhood accounting professional wants, a mansplainer on crypto.

First global accounting rules for insurers set for changes after complaints [Reuters] The International Accounting Standards Board (IASB) published its IFRS17 standard in May 2017 to replace a patchwork of national rules, but met opposition from insurers which said it would be costly to implement in too short a time.

Cal State Fullerton pioneers course on using robotics to streamline accounting [OC Register] Robots are coming for your job … if your job is emptying the trash.

Accounting alumnus earns top score on CPA exam [Louisiana Tech University] Local boy makes good.

Bubble Wrap maker says it has fired its CFO ‘for cause’ amid SEC probe [Charlotte Observer] Charlotte-based Sealed Air has terminated its CFO over an ongoing SEC investigation into the company’s accounting practices, the company said in a securities filing Thursday.

Meet the Columbus tax accountant who beat the IRS in court [Columbus CEO] Ron Lykins is a god among men and you shall bow to his greatness.

FASB Advances Toward Easing Accounting Burden for Libor Phaseout [CFO Journal @ WSJ] The Financial Accounting Standards Board on Wednesday took a major step toward removing a potentially costly accounting burden facing companies and organizations affected by global reference rate reforms, including a planned shift away from the London interbank offered rate.

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