Accounting & Tax

Auditing

Big Four Heading for Audit Shakeup in U.K.

The U.K.'s accounting watchdog has asked the firms to submit a plan by Oct. 23 for separating their audit and consulting businesses.

Matthew Heller
July 7, 2020
M&A

Berkshire Hathaway to Buy Dominion Energy

The conglomerate will spend $4 billion to buy the power and energy company’s natural gas transmission and storage business.
GAAP and IFRS

The Importance of Accounting Comparability

Could deviating from industry norms and employing atypical accounting choices hurt companies and managers?
Financial Performance

FedEx Gets Boost From E-Commerce Surge

"Thank goodness that we had a seven-day network when this absolute tsunami of packages hit us," CFO Alan Graf says.
The Cloud

Microsoft Pauses Advertisements on Facebook, Instagram Globally

The company is concerned over the content that runs next to its ads.
The Economy

U.S. Mortgage Delinquency Rate Jumps to 7.76%

More mortgages were past due in May than at any time since 2011 as Americans continue to struggle to pay bills amid the COVID-19 pandemic.
Financial Performance

Olive Garden Owner Reports Better-Than-Expected Q4

As of June 22, 91% of the company's dining rooms were open with at least limited capacity.
Auditing

Curtailing Auditors’ Tax Services For Appearances Brings Higher Rates

The pursuit of perceived auditor independence turns out to be an expensive proposition, a new study reveals.
Bankruptcy

GNC Files For Chapter 11

The vitamin and dietary supplements retailer has a potential buyer as it accelerates plans to cut its storecount.
Cash Flow

Scorecard: Safeguarding Working Capital

A disrupted economy will make it harder to manage receivables, payables, and inventory with efficiency.
Tax

Congress Looks to Support Charities With Tax Breaks

Two senators want to let taxpayers deduct charitable donations even if they don’t itemize their deductions.
Tax

Ohio Looks To Reclaim GM Tax Break

The automaker was awarded $60 million in credits before it closed its Lordstown, Ohio, plant.
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