Accounting News

1. Senate unveils plan to fast-track tax cuts, debt ceiling hike

   The Senate plan will allow for a $4 trillion extension of Trump's tax cuts and an additional $1.5 trillion in further levy reductions.

2. Don't place a bond ladder on shaky tax ground

   The wrong asset location could defeat the whole purpose of the strategy, according to a new study on Treasury inflation-protected securities.

3. Private sector added 155K jobs in March

   Private sector employment grew by 155,000 jobs in March as annual pay increased an average of 4.6% year to year, payroll provider ADP reported.

4. Government financial reporting and the road ahead under FDTA

   A landmark research study by GASB has provided one of the most detailed examinations to date of how state and local governments in the U.S. use GAAP.

5. Macy's to claw back bonuses due to accounting scandal

   The department-store operator tied executives' cash bonuses to an earnings metric that turned out to be overstated by around $81 million in 2023.