Reverse Factoring Intensifies The B2B Late Payments Debate

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The Big Four auditing firms — EY, Deloitte, KPMG and PwC — have recently requested that the Financial Accounting Standards Board (FASB) provide clarity in how corporates should classify their reverse factoring or supply chain financing agreements, adding more fuel to a long-standing debate as to whether such trade financing tools are debt. Scottish Firms Fair Non-Payment.

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FinTech Targets The Cash Flow Needs Of CPAs

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The Certified Personal Accountant (CPA) today now has a plethora of FinTech solutions they can use to manage their clients’ money, with the number of digital tools — including cloud accounting portals, cash flow forecasting solutions and intelligent technologies like artificial intelligence (AI) — continuing to rise. These solutions create a disjointed, and sometimes ‘bloated’ experience for accounting professionals.”.

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Big Four Seek Guidance On Trade Finance

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Top accountancy firms are asking the Financial Accounting Standards Board (FASB) to clarify how corporates should report on supplier finance programs that are in place, according to Compliance Week reports on Friday (Oct. financings) in the calculation of financial ratios and for purposes of determining compliance with financial covenants,” the Big Four firms said in the letter, per the report.

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How Finance Departments Can Mold Risk Mitigation Into Opportunity

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The enterprise is exposed to financial risks at just about every angle, with expansion across borders and into partnerships with unfamiliar firms upping the ante on both risk and reward. Now, analysts at the International Federation of Accountants (IFAC) are urging ERM to move beyond the c-suite. Auditors are embracing automation to mitigate against the risks of errors and non-compliance, the Wall Street Journal reported last month.