October 7, 2022

Accounting News Roundup: The Tax Angles in NFL Settlement; Management Accounting Content ‘Dwindling’ on Campus; A Strange Résumé | 08.30.13

Gay Spouses in All States Now Married Under U.S. Tax Law [Bloomberg]
The decision by the Treasury Department today implements the U.S. Supreme Court’s decision in June to overturn part of the federal Defense of Marriage Act, which had forbidden the Internal Revenue Service from letting married homosexual couples file joint tax returns. The U.S. government’s decision is a win for same-sex couples who were married in one of the 13 states, the District of Columbia or foreign countries that recognize such relationships and now live in one of the 37 states that don’t. “This is a very positive development,” said Derek Dorn, a partner at Davis & Harman LLP in Washington and outside counsel to the Human Rights Campaign, which advocates for lesbian and gay Americans. “Additional details need to be worked out in more nuanced areas of the tax law.”

Another Budget Deal Bites the Dust [WSJ]
I really thought they were going to pull this one off, you guys.

Tax Aspects Of The NFL Settlement Payments [Forbes]
Tony Nitti: "Have you ever wondered what your brain is worth? Well, if you’re a retired NFL football player, the Blue Book value has been set: your cognitive capacity is worth a cool $150,000."

Labor Day travel highest since recession [CNN]
The number of Americans traveling for Labor Day will be at its highest level since the recession, according to a forecast from AAA. The majority of the 34.1 million travelers taking a trip at least 50 miles from home will be on the road, 29.2 million Americans traveling by car, with gas prices for the period running lower than last year. Another 2.6 million will fly. The busiest travel day of the Labor Day period will be Friday, Aug. 30, when 46 percent plan to make their getaway. The second busiest day is Monday, Sept. 2 for the big return.

IMA Has High Hopes for Higher Education Endorsement Program [AWEB]
After surveying and reviewing the undergraduate accounting curriculum of many universities and colleges across the United States as well as receiving input from faculty, the Institute of Management Accountants (IMA) found that the content being taught at higher-learning institutions was more CPA-oriented – and that accounting programs' management accounting content was dwindling. "We feel that it is absolutely the wrong direction for the profession to go in," Raef Lawson, PhD, CMA, CPA, CFP, CFA, vice president of research and professor-in-residence for the IMA, told AccountingWEB. "The IMA has sponsored research that has looked at the competencies that corporate America is looking for in terms of new accounting hires, and in many cases, those skills are not being developed in students. We believe that schools should prepare students for their lifelong careers, not just for their initial jobs."

My Little Pony Resume Belongs To Either The Least Or Most Employable Person Ever [HP]
Any bronies out there considering this need to double check our definitive guide to resumes.

Kangaroo and Dog Tussle [Outside]
WHO YA GOT?

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