Weekly News Round Up: U.S. Corporate Profits Drop in Q4; Organizations Lose Five Percent of Revenue to Fraud; and Millennial Savings Trends
April 4, 2016
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 U.S. corporate profits fell in Q4 2015, and the outcome of the upcoming presidential election is impacting business planning and forecasting. In addition, M&A in the manufacturing arena remains healthy, and millennials want to save money – but struggle with impulse spending.
U.S. Corporate Profits Fall 8.1 Percent in 4th Quarter
U.S. economic growth did not slow as sharply in the fourth quarter as previously estimated but corporate profits fell for a second straight quarter on a strengthening dollar and low oil prices, according to the U.S. Commerce Department.
Presidential Election Weighing on Executives
Nearly two-thirds of U.S. business executives say the outcome of the 2016 presidential election is a consideration in their company’s business planning, budgeting or forecasting for the next fiscal year, according to the AICPA.
Private Sector Added 200,000 Jobs in March
According to a new study, private sector employers added 200,000 jobs, although job losses continued in some sectors of the economy.
Organizations Lose 5 Percent of Revenue to Fraud
The typical organization loses 5 percent of its revenue to fraud each year, according to a new report from the Association of Certified Fraud Examiners.
FASB Updates Accounting for Share-Based Payments
The Financial Accounting Standards Board has issued an accounting standards update to improve the accounting for employee share-based payments.
Manufacturing M&A Records 10-Year High in Deal Volume Despite Recent Declines in Value
Despite a drop in overall deal value, manufacturing M&A activity for the year as a whole remains healthy.
Saving a Top Millennial Priority, Despite Two-Thirds Admitting to Impulse Buying
According to a new survey from the AICPA, one in three millennials ranked saving as their number one goal for the year, while the majority of respondents attributed their lack of saving to impulse buying.