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Blog Articles & Video January 2022

International Public Sector Accounting Standards Board releases leases standard

The International Public Sector Accounting Standards Board has issued its own leasing standard for the public sector. International Public Sector Accounting Standard (IPSAS) 43, Leases is based on International Financial Reporting Standard (IFRS) 16, Leases, which was developed by the International Accounting Standards Board. For lessees, IPSAS 43 introduces a

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How to Troubleshoot QuickBooks Error OLSU 1024

Issues, while creating or linking bank accounts, are quite common in QuickBooks online but sometimes these banking issues also appear in QuickBooks Desktop. A user while creating a bank account in QuickBooks Desktop may encounter error OLSU 1024. In particular, OLSU errors are related to online banking, and QuickBooks Error

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The Changing Face of the CPA Profession

Much has been made of the projected scarcity of certified public accountants (CPAs), and for good reason. The National Association of State Boards of Accountancy reports that 95,654 candidates took the Uniform CPA Examination in 2017. By 2019, that number was down to barely 83,000, with 2018 reflecting a 10-year low in new CPA candidates.

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Steps to Overcome QuickBooks Display Issues in Minutes

It won’t matter how well the application is; if the display is distorted, the user experience is hampered. The user might face QuickBooks display issues if switched to a high-resolution monitor (1920 x 1200 resolution or higher). The QuickBooks display issues lead to unwanted delays in tasks, and it becomes

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IRS warns Child Tax Credit portal may have wrong amounts

The Internal Revenue Service is urging people to use the information in their online taxpayer accounts for the most up-to-date figures on the amount of the advance Child Tax Credit to include on their tax returns, instead of the numbers stated in the letters it has been sending and in

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Handle Tax Season Yourself This Year

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. Are you ready for tax season? Taxes for entrepreneurs are notoriously complicated, especially

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Generational Viewpoints: Time for change

This edition of Generational Viewpoints features two professionals from Barnes Dennig, a 160-person firm with locations in Ohio, Kentucky and Indiana. We asked baby boomer director Kathy Ahearn, born in 1958, and millennial tax manager Nick Pennekamp, born in 1993, to share their perspectives on the following question: “There are

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I Encountered QuickBooks Error 12038! – What’s Next?

Did you know if you fail to resolve an error in QuickBooks, there are high chances that it may go on to corrupt and cause an irrecoverable loss of data? Read the complete blog to find out. QuickBooks is a highly-engineered accounting application that serves its user with the most

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SEC cautions on properly tagging lease liability disclosures

The Securities and Exchange Commission issued an advisory Friday about how filers are using the wrong XBRL tags for reporting their finance lease liability and future payments. Staff members in the SEC’s Division of Economic and Risk Analysis have noticed that some companies are not appropriately tagging disclosures about their

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Downloading Attachments When Closing Dext and QBO

Downloading data and documents from Dext and QuickBooks Online and archiving them as part of the shutdown process can lead to unexpected surprises, as I found recently working with a business client. Specifically, as part of the process of winding things down with my client’s business, I am cancelling her

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