NSAC Happenings and Latest News - Page 50
FASB Defers Effective Dates of the New Revenue and Leases Standards for Certain Entities
The FASB deferred by one year the effective date of the new revenue standard for entities that have not yet issued (or made available for issuance) financial statements reflecting the adoption of the standard. The FASB also deferred by one year the effective date of the new leases standard for private companies, private not-for-profit (NFP) entities and public NFPs that have not yet issued (or made available for issuance) financial statements ...
Read More10 Tips for Working from Home
A crisis is often an accelerator, and businesses are learning that people can be productive working from home. Unfortunately, most companies were not ready for “stay at home orders.” In a recent survey, over 80 percent of companies said that their remote workers were performing better than anticipated. Sadly, many businesses and firms were not prepared and learned that mindsets, skill sets and toolsets are essential when it comes to ...
Read MoreHas Coronavirus Changed Bookkeeping Forever?
The global health and economic crisis triggered by coronavirus is a heavy burden for businesses. Even those for whom remote working is possible had to solve the problem of accessing the data they need in order to stay operational. Traditional bookkeeping software is typically installed on a dedicated computer drive, only accessible by a licensed user through a desktop application on their machine. Now take your bookkeeper out of the office, ...
Read MoreRansomware Is Now the Biggest Online Menace You Need to Worry About - Here's Why
Ransomware attacks have overtaken credit card theft as the top form of cybercrime according to new data. Ransomware attacks have become more commonplace than payment card theft incidents for the first time, as cyber criminals alter how they go about their malicious operations in an effort to gain the biggest financial reward for the least amount of effort. Analysis of more than a trillion security events over the past year and hundreds of ...
Read MoreThe Death of Traditional Accounting
It wasn’t that long ago that people drove their cars holding a large unfolded map in one hand, glancing at it now and then to determine when to make the next turn. Today, we look back and marvel at how antiquated this everyday practice has become. Technology has a way of doing that to us, turning the conventional into the old-fashioned. Traditional accounting is a case in point. What once was considered the optimal means of processing ...
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