Search Results for: iris
Which Country Has The Best Paternity Leave?
Legislative parental leave across the globe ranges from a generous 156 weeks (three years) – to none at all. Paternity leave can cause particular concern, because so many countries still treat fathers considerably different to mothers in this respect. Scandinavian countries are known to lead the way when it comes to paternity leave, offering parents […]
Key Considerations for Belgian Payroll in 2020
Belgium’s free-market system has always been attractive to foreign investment. With a competitive corporate income tax rate and simple process of delivering Belgian payroll, this small European kingdom has proven lucrative for many businesses. If you’re planning on sending US employees to Belgium, here are five key considerations to ensure a smooth payroll transition. Key […]
8 Best Countries to be Self-Employed
Self-employment has been steadily growing in popularity all over the world in recent years, and it’s predicted only to become more prevalent. In 2019, financial services company Payoneer carried out research to produce the Global Gig Economy Index, in which they asked more than 300,000 freelancers about their success. They found that year-on-year, freelancers in […]
Practice Engine reveals new name, website, and latest release
Today marks the beginning of a new chapter for Practice Engine. As we make strides to improve your experience with us and to help your organization look forward with confidence, we have a new name – IRIS Practice Engine. This reflects our close alignment with IRIS Software Group, our parent company, following last year’s acquisition. […]
Accounting Firm Workflow Challenges Checklist
What Is Workflow, And Why Is It Important For Accounting Firms? Workflow is defined as a ‘progression of steps (tasks, events, interactions) that comprise a work process, and create or add value to the organization’s activities.’ An effective workflow allows firms to: Use this checklist of 16 workflow issues to understand where workflow improvements can […]
Why Danes Appreciate the High Danish Income Tax Rate
Among many things, Denmark is known for being an expensive country in which its residents pay a high rate of income tax. However, it’s also known as being the home of some of the world’s happiest people. According to the UN’s annual World Happiness Report, Denmark is always among the top spots of the world’s […]
Countries with the Best Sick Leave
In the US, there is no federal law that says employees are entitled to paid sick leave. Throughout the coronavirus pandemic this has been a considerable source of controversy, as there have been many cases of employees being forced to choose between isolating and continuing to work while they exhibit symptoms. While there is no […]
FASB ASC 842 Accounting Standards Updates
Is your organization up to speed with all the Financial Accounting Standards Board (FASB) updates for ASC 842? Since its publication in 2016, the FASB has issued several accounting standard updates and amendments to Topic 842, leases. These updates have often been issued to increase the transparency and comparability of lease liabilities on the balance […]
The Practice Engine data warehouse: enhancing your reporting
Practice Engine Data Warehouse (PEDW) is a simplified version of the main Practice Engine production database that has been optimized for business intelligence reporting and data visualization. It uses a Star Schema* tabular warehouse representation of almost all key data in Practice Engine’s production database. The structure of the PE Data Warehouse has been created […]
Applying ASC 842: Determining Lessee Discount Rates
Although the new accounting standard for leases – ASC 842 was published back in 2016, many business may only now be addressing the guidance on transitioning to the standard. ASC 842 will, for those using operating leases as a regular means of asset acquisition, greatly increase the number of leases that may need to be […]
Applying ASC 842: Practical Expedients and Exemptions
Both FASB (Financial Accounting Standards Board) and IASB (International Accounting Standards Board) understood the enormity both from the perspective of effort and impact of the implementation of the new lease accounting standards – ASC 842 and IFRS 16. The adoption of the new standards by entities in general but lessees, in particular, is seen as […]
Applying ASC 842: Calculating the Right-of-Use (ROU) Asset
One of the most significant changes for lessees when applying the new ASC 842 lease accounting standard is the recognition of right-of-use (ROU) assets and lease liabilities. Under ASC 842, leases are to be broken down to an asset level with services and non-asset elements stripped out and treated differently from an accounting point of […]