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Professional News

Are Valuation Multiples Meaningful or Murky?

We’ve heard so many stories over the years from owners and executives who have heard bankers say a company’s valuation multiple should be “eight times earnings before tax, depreciation and amortization (EBITDA),” while their accountant said it might go “as low as six times EBITDA” in the industry.

IRS Proposes Regulations on Maximum Automobile Values

As promised in Notice 2019-08, the U.S. Internal Revenue Service (IRS) issued proposed regulations that update the fleet-average and vehicle cents-per-mile valuation rules described in Regs. Secs. 1.61-21(d) and (e), respectively, to align the limitations on the maximum vehicle fair market values

PCAOB Issues Guidance on New Auditing Estimates, Specialist Requirements

The Public Company Accounting Oversight Board (PCAOB) issued four documents providing guidance from its staff on the new requirements for auditing accounting estimates and the auditor’s use of a specialist. The new requirements will be taking effect for audits of financial statements for fiscal

Trends Report: CPA Firms Hiring More Non-Accounting Graduates

Among the key takeaways from the American Institute of CPAs' (AICPA) 2019 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits report ( Trends ) is that the hiring of non-accounting graduates by CPA firms rose markedly over the last two years. View the full

How Firms Can Better Support Women in Networking

Business development is a critical requirement for anyone hoping to make partner in most CPA firms. Today, candidates can no longer simply put their head down and work hard if they expect to make it to the corner office. They have to prove they can convert networking opportunities into new business

How to Focus on Finance Team Performance

As a good CFO, keeping track of numbers and ratios is an important part of what you do for a living. But are you mostly tracking the numbers for the overall business? If so, are you paying enough attention to the performance of your own department and team members? Click here for some concepts you

GASB Publishes Implementation Guide on Lease Accounting

The Governmental Accounting Standards Board (GASB) has issued an implementation guide that contains questions and answers about the GASB’s new standards on accounting and financial reporting for leases. GASB implementation guides are intended to clarify, explain, or elaborate on the requirements of

Are Remote Workers a Cybersecurity Threat for Businesses?

As work-life and technology continue to evolve, a growing number of small business owners find themselves adopting remote work policies or “WFH” perks. However, their employees, who use company platforms and networks in popular locations such as coffee shops and airports, are more susceptible to the

Colleges Dive Into Big Data Education

Some Virginia colleges and universities are creating ways for accounting students to get the data analysis skills they need to succeed in the workplace. By Chip Knighton The random sample isn’t necessarily going away, but it’s no longer the absolute standard for audits. Big Four firms and others