Weekly News Round Up: Median Income Growth Increases; Worldwide Server Sales to Drop; and Rise of Malware
September 26, 2016 - By: SC&H Group
Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.
This week, we highlight how media income growth for U.S. households increased in 2015. In addition, worldwide server sales dropped, there will be a potential rise in M&A activity in the oil arena, and malware is downloaded every 81 seconds.
Median Income Growth Hits Record in 2015
U.S. households experienced a record increase in income last year, according to a Census Bureau report that indicated the recovery from the Great Recession has gained traction.
Worldwide Server Sales Drop 0.4 Percent in Q2
Global server market revenue fell in the second quarter, with three of the top five vendors experiencing sales drops amid the continuing decline of the high-end segment, according to International Data Corp.
IRS Appeals Office’s Collection Due Process Program
The Internal Revenue Service’s Office of Appeals has improved its compliance within its Collection Due Process program, although some taxpayers are still misclassified and receive the wrong type of hearing, according to a new report.
FASB Proposes Technical Corrections in Revenue Recognition Standard
The Financial Accounting Standards Board has proposed a set of technical corrections and improvements to its revenue recognition accounting standard.
Potential Rise in Oil M&A Activity
Large oil companies are scaling back their exploration budgets and instead shifting towards a strategy of growing by acquiring already producing oil assets.
New Study: Malware Downloaded Every 81 Seconds
A new report claims that some form of known malware is downloaded every 81 seconds in an enterprise organization.
Best Savings Strategies for Your Personality Type
U.S. News & World Report is offering these personal finance savings strategies for a wide-range of personality types.