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Accounting News Roundup: Unhappy CFOs, New Laws of Tax Planning; A Lottery Blunder | 02.16.18

accounting news tax planning unhappy cfos

The Winter of CFOs’ Discontent? [CFO]
CFO recently collected over 700 responses from its job search decision tree aimed at finance executives. And, good news — they’re miserable at their jobs just like the rest of you! “A slim majority of finance executives are unhappy in their jobs; about one-third don’t think their company’s strategy, culture, and ethics align with their own; and nearly half say they aren’t getting a fair return on the time and effort they put into their jobs.”

Laws Of Tax Planning Updated For Tax Cuts And Jobs Act [Forbes]
I missed this Peter Reilly post from last month, but since one rule is “When an idea makes you think of a Seinfeld episode, it is not going to end well,” it’s worth a share. Honorable mention for working the Rules of Acquisition into the introduction.

Despite Investigative Report, Lottery’s Accounting Firm Denies Blame In Drawing Snafu [HC]
Marcum is fully immersed in a comical blunder with the Connecticut Lottery where “the Drawing Team deviat[ed] from approved official drawing procedures.” This apparently led to awarding $1.375 million incorrectly, which then led to a make-up drawing of an additional $1.375 million, but the situation “has left many lottery players angry.”

IRS didn’t notify 458,658 identity theft victims [AT]
Speaking of blunders, this is never good: “The report, from the Treasury Inspector General for Tax Administration, found the programming glitch kept the IRS from notifying 458,658 victims of ’employment identity theft.’ The identity thieves used the victim’s identity to get jobs.”

Kyle Moffatt Named Chief Accountant in Division of Corporation Finance [SEC]
Among other things, Moffatt leads the team that “assist[s] companies with the implementation of revenue recognition and to develop the Division’s approach to reviewing companies’ disclosures.”

Brought to you by Accountingfly

The featured job of the week is a Remote Bookkeeper with Grosser & Company in Aurora, Colo.

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Jason Bramwell interviewed more than a dozen controllers about their transition from public accounting to industry.

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