Travel industry, expecting busy summer, casts wary eye on inflation
With COVID-19 caseloads easing and consumers flush with savings built up during the
pandemic, the travel industry was anticipating a robust season.
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States begin to consider digital asset taxation as sessions end
A number of states begin to consider or take steps related to the state taxation of digital assets as the economy for these assets continues to grow.
U.S. employment report for June indicates no recession now
An American economy in free fall does not tend to produce 372,000 jobs in any given month, as the June employment report showed on Friday. The data released by...
GASB revises requirements for accounting changes and error corrections
The Governmental Accounting Standards Board (GASB) has released Statement No. 100, Accounting Changes and Error Corrections (Statement 100), which amends GASB Statement No 62.
GASB revises requirements for compensated absences
The Governmental Accounting Standards Board has released Statement No. 101, Compensated Absences, replacing GASB Statement No. 16, Accounting for Compensated Absences.
Oklahoma proposes phasing out Corporate Income and Franchise Tax
Tax cuts, tax cuts, and more tax cuts. Is now the time for Oklahoma to cut corporate income and franchise taxes?
Cybersecurity governance and the board’s role
The SEC has proposed amendments to its cybersecurity rules for private companies. If enacted, some boards may require cultural and structural changes to address governance gaps.
Economic headwinds: Hospitality
Inflation is hitting the hospitality industry harder than the broader economy.
Job openings show signs of a slowdown
Job openings declined for the second straight month in May as the Federal Reserve's rate hikes slowed down overall demand.
Chart of the day: Service sector grows at slowest pace in two years
The ISM service index inched down to 55.3 in June, the slowest level of growth in more than two years since May 2020, when it was at 45.2.
U.S. June jobs preview: Slower hiring in rate-sensitive industries
We expect the June U.S. employment report to show a total gain of 225,000 jobs, with risk of a stronger pace of hiring and an increase in the unemployment rate to 3.7%.
RSM US Manufacturing Outlook Index shows a slowing industrial sector
Three of the Federal Reserve’s regional manufacturing surveys are now reporting outright contractions and the other two are falling quickly toward contraction.
Preparing for a tsunami of imported goods
The recent reopening of China’s factory floors and the easing of its supply chain bottlenecks have prompted discussion about the ability of the U.S.
New home sales rise unexpectedly despite higher mortgage rates
The increase was driven by more supply coming online, pushing prices down for the first time since February.
Five considerations for changing auditors
As your business grows, it's imperative to have an audit firm whose capabilities grow with you. Assess if it's time for a change.
IRS 90-day pre-examination compliance pilot for retirement plans
The IRS is piloting a pre-examination compliance program for retirement plans, which provides plan sponsors with 90-day window to review plan operations and make corrections prior to examination.
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