A strengthening economy and the prospect of higher interest rates have prompted the largest quarterly sell-off in U.S. government bonds since December 2013. Meanwhile, investment-grade corporate debt returned a negative 3.22%, high-yield bonds gave up 0.04% and municipal bonds lost 0.86%.
New guidance issued by the Governmental Accounting Standards Board cuts in half the number of categories of authoritative GAAP for state and local government financial reporting.
The Public Company Accounting Oversight Board voted Tuesday to seek public comment regarding a proposal for naming the engagement partner in public company audits, in addition to identifying other firms that contribute to the audit. The board also opted to seek public comment on a proposed set of 28 audit quality indicators that could change the way audit firms are evaluated.
Captive insurance arrangements that meet the stringent requirements to qualify as actual insurance companies can offer large tax benefits, but the Internal Revenue Service continues to scrutinize this area. Here are opportunities and pitfalls companies should be aware of.
The Governmental Accounting Standards Board issued two proposals Tuesday that are designed to prevent confusion about external investment pool accounting and to clarify requirements for presentation of certain component units.
The Equal Employment Opportunity Commission has received a range of comments about its efforts to harmonize wellness-plan regulations under the Americans with Disabilities Act and the Affordable Care Act. Republican lawmakers and some business advocates expressed concern about the lack of a uniform standard for financial incentives. Disability advocacy groups said that people might feel compelled to participate in wellness programs.
Digging, pulling and lifting are all components of gardening and place physical demands on the body, with potential for risk. Gardeners can minimize risk by staying hydrated, putting on high-SPF sunscreen, using mosquito protection and wearing protective gear, such as gloves and light-colored clothing. Gardening offers emotional, social and physical benefits, improves home value and is safe for most people.
McCarthy had been treasurer for 15 years.
Large companies seeking to boost market share have pushed mergers and acquisitions this quarter close to a record set before the financial crisis. M&A volume worldwide is up 34.6% compared with Q2 of 2014, reaching $1.33 trillion, which is short of a $1.41 trillion record in Q2 of 2007.
President Barack Obama has proposed a rule to make overtime pay available to millions of workers. Congressional action is not required. Supporters and critics expect the rule to be challenged in court and possibly in Congress.