Weekly News Round Up: U.S. Job Gains Lowest Since 2010; Growing Compliance Costs; and Top Personal Finance Calculators
June 13, 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 the Labor Department’s recent jobs report, as well as a report from the AICPA stating that business leaders are poised to make more hires. In addition, financial executives are expecting the “cost of compliance” to increase, and we provide the top online calculators for managing your personal finances.
U.S. Job Gains Lowest Since September 2010
The Labor Department recently released a sobering report about U.S. unemployment rates, which may make it tougher for the Federal Reserve to raise interest rates.
Economic Optimism Rebounds From 3-Year Low
Despite the recent jobs report, nineteen percent of business executives surveyed by the AICPA say their organizations are ready to hire immediately, up from 15 percent last quarter.
U.S. Banks’ Profits Show First Drop in 2 Years
The net income of U.S. banks dipped for the first time in two years in the first quarter but strong loan and operating revenue growth provided some cause for optimism, according to a new report.
Finance Execs Anticipate Growing Compliance Costs
The costs of the finance and accounting function at many companies are expected to climb in the next few years, according to a new survey.
FASB Proposes Changes in Derecognition of Nonfinancial Assets
The FASB has issued a proposed accounting standards update on gains and losses from the derecognition of nonfinancial assets, clarifying the scope of its asset derecognition guidance and accounting for partial sales of nonfinancial assets.
IRS Relaunches ‘Get Transcript’ App with Better Authentication
The Internal Revenue Service has restored the Get Transcript online application that it took down last year, adding improved multi-factor authentication processes to safeguard the program from being exploited by identity thieves.
15 Personal Finance Calculators Everyone Should Use
The Wise Bread personal finance blog is offering this definitive list of the top online calculators.