Companies unsure of leasing costs and accounting transition
Accounting Today
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One-third of private companies still aren’t fully prepared to transition to the new leases standard, and more of today’s top stories.
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Even though leases typically comprise a major piece of a business’s budget, most companies don’t know how much their leases cost and many are unsure about how to account for them under the new rules.
In other news today:
The Internal Revenue Service is coming under fire in Congress again, this time for lax oversight of fraudulent charities that applied for tax-exempt status and received approval.
Corporate tax departments generally agree that technology will be key to keeping up with tax changes, but many concede their own technology isn't adequate to meet these challenges.
Plus, Paystand releases a blockchain-powered dynamic discounting app; Neat makes platform available online; and other accounting tech news.
An excise tax for small and midsized producers beginning at 5% would be imposed on cannabis products and gradually increase to 12.5%.
Baldwin CPAs elects managing partner; Anchin opens first office outside of New York; and more CPA news.