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Treasury and IRS Release Proposed Corporate Alternative Minimum Tax Regulations

JD Supra: Mergers

On September 13, 2024, in the Federal Register, the Treasury and IRS published proposed regulations implementing the corporate alternative minimum tax (“CAMT”).

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Corporates Face New Criminal Offence Amid Accountability Crackdown

JD Supra: Mergers

Enhanced SFO powers and promises of swifter action on economic crime underscore the importance of anti-fraud measures for corporates and M&A dealmakers. The UK government is cracking down on corporates turning a blind eye to fraud and other economic crime. By: Latham & Watkins LLP

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Corporate Accounting: Meaning, Importance & Explanation

Razorpay

Corporate accounting is a special kind of accounting meant for businesses to record and monitor money movement. Knowing how corporate accounting works and its role in facilitating the growth of a business is important because it plays a fundamental role in the smooth functioning of business financials.

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Pre-Consolidation Conversions in the Accounting World – Tax Considerations

JD Supra: Mergers

Another Change- Last week BDO confirmed that it was going to convert from an entity organized as a limited liability partnership under state law to one organized as a corporation. By: Rivkin Radler LLP

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Banks Should Have Better Customer Relations When Closing an Account

The New York Times: Banking

When banks close checking and credit-card accounts because of “suspicious activity,” chaos and anxiety ensue. It doesn’t have to be this way.

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Operating Lease Accounting

Wall Street Mojo

Operating Lease Accounting Definition Operating Lease Accounting refers to the accounting methodology used for leasing agreements where the lessor retains the ownership of the leased asset. The lessee records rental payments as expenses in the books of accounts. Show the journal entry for the operating lease transaction.

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Former Wells Fargo Executive Avoids Prison in Sham Accounts Scandal

The New York Times: Banking

Prosecutors had sought a year of incarceration, which they said would be a deterrent to other corporate executives.