Payday Loans Explained: The Definitive Guide

Payday Loans Explained The Definitive Guide

There is no money left in your bank account at the end of the month. A quick grocery run and a few pending bills will ensure that you will have enough money to get you through the month until your next paycheck. The problem is that there are only a few days between paychecks, and … Read more

Initial Accounting for an Investment

Initial Accounting for an Investment

First and foremost, how do you account for any investment in the first place? Investment costs include the purchase price of a security, any brokerage and service fees, and taxes that may have been incurred. The investment’s initial carrying amount is calculated using this value. After deducting brokerage, service, and transfer taxes, the net proceeds … Read more

Taking Into Account the Price of Crypto Mining

Taking Into Account the Price of Crypto Mining

Coin miners face two major accounting challenges. The first consideration is how to deal with the operation’s financial expenses. Cloud mining means renting space on someone else’s rigs, which are computers that are used to mine cryptocurrencies. The rental cost of the rig is deducted from the company’s income during the period in which it … Read more

TIGTA: IRS inefficiencies worsened the backlog of cases

TIGTA IRS inefficiencies worsened the backlog of cases

An audit by the Treasury Inspector General for Tax Administration (TIGTA) found that while pandemic and law changes were to blame for the IRS’ failure to meet timeframe standards for most taxpayer cases last year, inefficiencies in staffing, equipment, and procedures also played a role. “Program and organisational changes are needed to address the continued … Read more

A winning mergers and acquisitions strategy for banks

A winning mergers and acquisitions strategy for banks

Since the start of the global financial crisis, banks have been merging and acquiring one another at an unprecedented rate, and this trend appears set to continue through 2022. What’s behind all of these transactions? For most banks, it’s a combination of three factors: lower relative costs due to scale, reduced risk due to diversification, … Read more

The panel discusses the impact of blockchain and cryptocurrency on accounting and taxation

The panel discusses the impact of blockchain and cryptocurrency on accounting and taxation

Consensus: Invest 2018 was held in New York City on Tuesday and Blox CEO Alon Muroch said that blockchain and cryptocurrencies put “the finance side of the world at the forefront of tech,” something that rarely happens. As cryptocurrency and blockchain adoption grows, some people have called bitcoin “funny money” in the past, but “no … Read more