The role of Chief Financial Officers is changing with the times. In addition to fulfilling the traditional role of financial tactician, CFOs have evolved into business advisors, according to a panel of Chief Executives hosted by The Financial Management Association of New Hampshire (FMA of NH) reports Reuters. Today, the responsibilities of the CFO extend [...]
Although the economic slowdown has taken a toll on a number of industries, accounting firms are weathering the storm remarkably well. The AICPA’s 2009 PCPS CPA Firm Top Issues Survey finds that not only are CPA firms thriving, more than half predict growth in the coming months. One of the ways firms are positioning themselves [...]
Finding the right job is tough. Doing it in a recession is even more difficult. Facing an uncertain economy, more and more job seekers and companies looking to fill high level positions are turning to contingency search firms for help. Why? Mitch Feldman, President of executive search firm, A.E. Feldman, says contingency firms like his [...]
Large U.S. corporate bankruptcies have accelerated in recent weeks as the economic slowdown claims more victims, according to Reuters, citing research from BankruptcyData.com. The report states more companies with assets of more than $1 billion have filed for bankruptcy protection in the past month than in any four-week period all year.
In June alone 18 public [...]
As many industries lose stability amid the economic crisis, the accounting profession is actually weathering the storm. That’s among the findings of a recent survey from the Institute of Management Accountants (IMA). The study shows that accounting salaries are on the rise and demand is growing for professionals with advanced certifications.
Executive search firm, A.E. Feldman, [...]
The floundering economy has driven a growing number of accounting firms into each others’ arms, according to Long Island Business News. The report states, “Accounting firms are getting bigger, becoming regional and even national players as they not only advise others on mergers, but practice it themselves.”
Accounting firms are merging with the aim of adding [...]
Corporate bankruptcies are on track to hit a record high this year. There have been 100 public company bankruptcy filings during the first five months of this year, just shy of the 2002 high for the same time period, according to BusinessWeek, citing research from BankruptcyData.com. The American Bankruptcy Institute (ABI) also reports that business [...]
The world of tax is changing and indirect taxes are at the heart of this change. Over the coming years KPMG says more jurisdictions throughout the world will introduce VAT/GST regimes (the current total is 135 and rising), and there will be an increased focus on protecting and broadening the taxable base on which VAT [...]
One of Orange County, California’s highest-profile luxury resorts, the St. Regis Monarch Beach Resort, is scheduled to be auctioned off on July 7th, according to the Orange County Business Journal. The report states an affiliate of New York-based Citigroup Inc. is moving to foreclose on the 400-room hotel which opened in 2001. The hotel is [...]
Drug giant, GlaxoSmithKline, is battling the IRS over a potential $1.9 billion in back taxes, interest and penalties, according to Reuters. The case centers on a tax-savings technique used by the company known as “earnings stripping.” The practice involves reducing domestic taxable profits by claiming excessive interest deductions on intercompany loans from units abroad. Reuters [...]
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