Accounting
Top stories summarized by our editors
1/17/2020

The Chinese economy expanded 6.1% last year, the slowest growth in 29 years but within the range of 6% to 6.5% targeted by the government, according to the National Bureau of Statistics. The government regularly enacted monetary stimulus and tax cuts to head off a long economic downturn.

1/17/2020

Scientists have believed that only domesticated dogs will play fetch with humans, but recent research revealed the behavior in certain wolf puppies. Christina Hansen Wheat of Stockholm University in Sweden says the unexpected behavior means "that if variation in human-directed play behavior exists in wolves, this behavior could have been a potential target for early selective pressures exerted during dog domestication."

Full Story:
National Public Radio, CNN
1/17/2020

The Treasury Department will start selling a 20-year bond during the first half of this year. The product is being introduced to help with the budget deficit, which is expected to exceed $1 trillion this fiscal year and might continue at that level during the next 10 years.

Full Story:
The Associated Press
More Summaries:
Treasury Department, Treasury
1/17/2020

The Financial Accounting Standards Board has acted to clarify the interaction between accounting standards related to equity securities, equity method investments and certain derivatives.

1/17/2020

When deploying robotic process automation, it's important to thoroughly examine the claims of a technology provider to ensure they are able to deliver what they promise.

Full Story:
Financial Management
More Summaries:
RPA
1/17/2020

Outstanding student loans exceed $1.6 trillion, and some borrowers are making no progress at paying off debt, according to Moody's Investors Service. The default rate for education debt is 11%, the highest for any category.

Full Story:
CNBC
1/17/2020

The Internal Revenue Service is expanding relief from cancellation-of-debt income to students whose federal loans have been discharged by the Education Department under the Closed School or Defense to Repayment discharge process or whose private loans have been discharged because of settlements of certain types of legal causes of action against not-for-profit or for-profit schools and certain private lenders.

1/17/2020

As more lending moves online, some banks are falling prey to a scam in which criminals build up false credit profiles by inventing identities. The borrowers, who do not actually exist, then take out credit cards and loans, potentially racking up hundreds of thousands of dollars in debt.

Full Story:
CNBC
1/17/2020

Amid a tight job market, companies are trying to stay competitive by offering appealing perks, such as free food, foosball tables and on-site services. These perks might be fun, but there are issues to consider as you determine how useful they actually are.

Full Story:
Fast Company online
1/16/2020

"Many auditors will complain that writing simple audit reports in plain language dumbs down the content," writes Jim Pelletier, IIA vice president of standards and professional knowledge. "They claim that long sentences and showy or technical words sound smarter and appear more professional. They're wrong."