Accounting
Top stories summarized by our editors
5/25/2018

SmartBrief has updated its Privacy and Cookie Policy. Here are the key things for you to note: Our Privacy and Cookie Policy has been rewritten to make it easier to understand and to address new EU requirements. The policy outlines how we collect, use, share and protect your personal data. It also includes details on how you can make choices about your information and the measures we've put in place to keep your information secure. We encourage you to review our new policy at smartbrief.com/privacy.

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smartbrief.com
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SmartBrief, EU
5/25/2018

Birds, reptiles and beetles are popular pets in Japan; people in Australia adopt sick, injured or orphaned wallabies; and crickets are among popular pocket pets in China. Dogs and cats are still the most popular pets worldwide, but rabbits are gaining ground.

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CNN
5/25/2018

The EU General Data Protection Regulation is taking effect, but many companies are still noncompliant. That could open companies up to fines of as much as 4% of revenue.

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The Verge
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EU
5/25/2018

Medical expenses rise as people age and often are cited as a major financial concern in retirement. Here are several ways to manage medical costs, starting with signing up for Medicare on time.

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Forbes
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Medicare
5/25/2018

Find out how to work around the new Sec. 4960, which imposes an excise tax on tax-exempt organizations that pay excessive compensation to certain employees.

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The Tax Adviser
5/25/2018

Soft skills might be more important than technical skills in contributing to a thriving work environment. Here's how to practice soft skills necessary to drive results and to keep people motivated.

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Financial Management
5/25/2018

Companies are scouring the new tax law for optimal strategies, with one focus being the base erosion and anti-abuse tax and its interaction with cost of goods sold. "The COGS loophole for BEAT is a straightforward gimmick, but I am unsure how or whether the IRS will stop it," said Steven Rosenthal of the Urban-Brookings Tax Policy Center.

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Reuters
5/25/2018

Pettitt was group financial controller and will be interim group CFO until Jonny Mason becomes CFO.

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London South East
5/24/2018

"Unsure about what to expect from [this] week's launch of the General Data Protection Regulation (GDPR)?" writes IIA Vice President of Stakeholder Relations Jim Pelletier in his latest blog. "You aren't alone." Research firm Gartner predicts that by the end of 2018, more than half of companies affected by GDPR will not be in full compliance, Pelletier writes.

5/24/2018

The AICPA Accounting and Review Services Committee has issued Statement on Standards for Accounting and Review Services No. 24, which revises reporting requirements for compilations and reviews.