It has now been two years since the Financial Accounting Standards Board (FASB) issued its final standard (Topic 842), which delineates the changes that will be made to lease accounting. The changes were debated for a number of years and, due to the significance of the changes, the FASB applied a rather long adoption period: […]

It’s a good time to be the owner of a small accounting firm. Despite the many large corporations that seem to dominate the marketplace, small firms are still the backbone of the American economy. And, according to the U.S. Treasury, since the Great Recession, banks participating in government-funded programs to back small businesses have boosted their […]

Over the past decade, practice management for accounting firms has evolved dramatically. There is perhaps no better illustration of this than by considering how the term itself — practice management — is defined quite differently by legacy venders like Wolters Kluwer or Thomson Reuters, compared with modern players like Karbon. Major changes in the profession — including […]