accountants

Why would you scrap a movie that is all but finished before anyone except studio suits have had a chance to see it? The answer, for Hollywood bigwigs, is a tax write-off. In the last 18 months, Warner Bros has deleted a live-action Looney Tunes riff, Coyote vs Acme; the animated adventure Scoob! Holiday Haunt; and, most infamously, the $90m DC Extended Universe flick Batgirl. Now Netflix seems to be getting in on the act with news this week that the Halle Berry-led sci-fi tale The Mothership is also being axed before…

Benford’s Law for the first digit. Graphical depiction of Benford’s Law as applied to the first digits of a notional dataset that perfectly fits the law, displaying the characteristic negative logarithmic curve of occurrence probability, P(d), as the digit value increases. Credit: Research Integrity and Peer Review (2023). DOI: 10.1186/s41073-022-00126-w Auditing practices from the finance industry can be adapted to identify…

The salaries offered to U.S. accountants and auditors last year climbed at their quickest pace in recent years, but industry observers say increasing pay alone may not be enough to remedy a national shortage of accountants.Fewer people are pursuing degrees in accounting and starting new jobs in this area, resulting in more open positions for related roles and searches that take longer to complete. Accounting and auditing jobs have been long viewed by people in the profession as underpaid, undervalued and less dynamic than…

Credit: Pixabay/CC0 Public Domain Bad bookkeeping's been in the news a lot lately. Sam Bankman-Fried's FTX crypto empire came crashing down amid news that an $8 billion shortfall was being tracked in a sloppy Excel spreadsheet. The Brazilian retailer Americanas has been engulfed in crisis since it revealed a $3.8 billion accounting "irregularity": Its cash reserves had suddenly vanished. The former CEO of the German payments…

Accounting, a profession focused on numbers, is vexed by this one: the 150 college credit hours required to become a certified public accountant.The shortage of accountants in the U.S. has firms boosting salaries and sending work abroad. The cost of accounting work has been rising and some firms are turning away audit work because they can’t find enough CPAs. Efforts to recruit more students into the field have become a near-constant conversation now nationwide among CPAs and industry groups. One sticking point, some in…

In the past few years, the Cryptocurrency industry has turned out to be a ‘pot of gold’ for investors trying to multiply their gains. Consequently, it has become extremely essential for financial accountants to make sure they help their clients with a proper crypto tax planning strategy. If you are trying to figure out how to go about it, then here is an easy guide for accountants to prepare their clients for crypto tax planning. Our guide for crypto tax planning is a one stop blog to answer what is a crypto tax plan,…

A national shortage of accountants is prompting small and midsize firms to hire overseas for the first time as they seek workers to audit U.S. companies’ books and prepare Americans’ tax returns.Large firms such as KPMG LLP and PricewaterhouseCoopers LLP have long hired international accountants to support client work. Now, with tax season poised to kick off, small and midsize accounting outfits that serve family businesses, individuals and smaller companies say they are offshoring jobs as local recruiting pipelines dry…

More than 300,000 U.S. accountants and auditors have left their jobs in the past two years, a 17% decline, and the dwindling number of college students coming into the field can’t fill the gap. The exodus is driven by deeper workplace shifts than baby-boomer retirements. Young professionals in the 25- to 34-year-old range and midcareer professionals between the ages of 45 and 54 also departed in high numbers starting in 2019, according to the Bureau of Labor Statistics. Recruiters who have been luring experienced…

“We started out with five of us putting £100 in a pot and hoping for the best,” says Henry Morris of the micro electronic music festival Field Maneuvers.Along with Leon Cole and Ele Beattie, they’ve thrown their annual “no frills rave” in a secret countryside location since 2013 when 350 people showed up to get sweaty in a field. “It started as a party for us and our friends and it still is, it’s just gotten a bit bigger,” says Beattie. This year’s event, featuring Kode9 and Overmono, will host 1,500 people but there’s no…