Amid tense and uncertain times, two leaders of the National Association of Black Accountants describe their emotions and a sense of hope that they can produce positive change in the accounting profession and their communities.
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Management accounting
Together, we can make a difference: A 12-step plan to address racism and unconscious bias
Increased resources and focus will be needed to address the consequences of systemic racism and unconscious bias, writes Kimberly Ellison-Taylor, CPA, CGMA, a former AICPA chairman who is executive director, Finance Thought Leadership for Oracle.
Fed expands Main Street Lending Program to more businesses
The Federal Reserve Board announced revisions to the Main Street Lending Program that make it possible for more small and midsize businesses to receive financial support.
Partial PPP loan forgiveness remains if 60% threshold not met
Paycheck Protection Program loan recipients can receive partial loan forgiveness even if they don’t spend at least 60% of their PPP funds on payroll, Treasury and the US Small Business Administration said.
PPP forgiveness changes coming as Senate passes House bill
The Senate passed a House bill that gives small businesses and other entities that received loans from the Paycheck Protection Program 16 additional weeks to spend the funds and qualify for full forgiveness of the loans.
Falling demand, safety concerns fuel finance leaders’ pessimism
Optimism reigned for years in a quarterly survey of finance decision-makers, but the COVID-19 pandemic changed everything.
House passes bill that would relax PPP forgiveness requirements
The US House passed a bill that would relax some of the requirements that Paycheck Protection Program fund recipients need to fulfill to qualify for forgiveness from their loans.
$10 billion from PPP pledged to lenders to underserved communities
Paycheck Protection Program Round 2 funding worth $10 billion is being set aside for Community Development Financial Institutions, which work with underserved communities.
COSO provides new guidance on risk appetite
The Committee of Sponsoring Organizations of the Treadway Commission has published new guidance on risk appetite and its critical links with strategy and decision-making.
PPP forgiveness guidance issued as Congress mulls changes
The SBA and Department of Treasury issued a pair of new interim final rules Friday for the Paycheck Protection Program. Meanwhile, bills in Congress could make major changes to two of the PPP’s most significant rules. Votes could come as early as this week.
Tips for audit committees during the pandemic
Strong oversight from audit committees can help companies stay on the right track as they work to survive and thrive through the coronavirus pandemic. These tips can help audit committees serve effectively.
The hard trends that matter more than ever now
Technology, demographics, and regulation are hard trends that will have a lasting effect on business. Tom Hood, CPA/CITP, CGMA, shares how to adapt.
SBA releases PPP forgiveness form but AICPA urges more detail
An application form and instructions released by the US Small Business Administration are designed to assist borrowers as they apply for Paycheck Protection Program loan forgiveness.
SBA allows increased PPP loans to partnerships, extends safe harbor to May 18
The U.S. Small Business Administration (SBA) issued a new interim final rule opening the door for lenders to increase existing Paycheck Protection Program loans to partnerships and seasonal employers.
SBA provides safe harbor for PPP loans under $2 million
The US Small Business Administration issued guidance stating that businesses that together with their affiliates accepted Paycheck Protection Program loans totaling less than $2 million will be assumed to have certified their loans in good faith.
A tale of the PPP tape: Why relationship building matters
The number of small businesses receiving Paycheck Protection Program loans can be linked to the number that had bank financing before the pandemic, data from the Federal Reserve Bank of New York shows.
AICPA, small business advocates call for clarity in PPP rules
The AICPA joined with other organizations that advocate for small businesses to urge the US Small Business Administration to provide clarity related to Paycheck Protection Program funds.
As cash worries persist, companies ponder cuts, investments
Revenue declines are chief on the minds of finance professionals in an April survey. More than half of finance professionals expect business operations to return to normal in the fourth quarter or later.
SBA extends safe harbor for returning PPP funds
The safe-harbor period for returning Paycheck Protection Program funds has been extended through May 14 by the US Small Business Administration.
SEC temporarily expands access to crowdfunding
Responding to the coronavirus pandemic, the SEC said it has temporarily amended rules to provide established smaller companies with opportunities to meet their urgent funding needs through Regulation Crowdfunding.
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FROM THIS MONTH'S ISSUE
Making the right choice when no one is watching
The true test of one’s character is the decision made when no one is looking over your shoulder. Learn how CPAs can uphold ethical standards and take actions that help limit liability risk.
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Current developments in taxation of individuals: Part 2
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