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The Bristol Press – New Britain’s Mugford & DiBella expands tax, accounting business with acquisition of Fasulo & Albini CPAs in Plantsville
NEW BRITAIN – Mugford & DiBella, LLC, has expanded its tax, accounting and advisory services to business clients through a recent acquisition agreement with Fasulo & Albini CPAs in Plantsville. “We are very pleased with this acquisition and how closely aligned our values, professionalism and commitment to customer service is,” said Brian DiBella, managing partner of Mugford & DiBella regarding the firms’ collaboration. “We’re incorporating their clients into our practice and basically growing our firm helping serve more clients.” Fasulo & Albini CPAs will retain and continue serving its individual clients as it joins the team at Mugford & DiBella.
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TELCOR announces POC and Accounting promotions | Business Achievements
TELCOR is excited to announce the promotions of Yesenia Lopez, revenue accountant; Matthew Peters, product specialist; Joy Plautz, senior QA analyst; and Charles Ralston, product specialist. Lopez joined the TELCOR RCS team in 2019 where she was responsible for leading new customers as well as training new employees on payment posting. As a strong team resource for the TELCOR billing service, she will utilize the skills learned as part of the billing team to the TELCOR accounting team as she works with the TELCOR product lines and its customers. Peters joined TELCOR in 2017 and has
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Unlocking better business outcomes with PEOs
To stay resilient during these unpredictable times and beyond, small business clients are looking for efficient processes and expert guidance to respond to the various challenges brought on by the COVID-19 pandemic. Attracting and retaining talent, managing a human resources department, onboarding new employees, administering payroll and other benefits programs can be difficult for small businesses to handle and requires in-depth knowledge of each topic. Offering clients the option to work with a professional employer organization can help increase overall efficiency and profitability by offloading the key administrative tasks necessary to running a business, and allowing them to refocus on
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Small business hiring slowed in September
While small businesses continued to add jobs in September, the pace of hiring slowed, according to a new report from payroll giant Paychex. The Paychex | IHS Markit Small Business Employment Watch, released Tuesday, indicated that the pace of small-business employment growth improved this summer, but monthly gains slowed considerably to 0.45% in August and 0.15% in September. Despite the slowdown, the Small Business Jobs Index component is approaching nearly 100, at 99.95. Hourly earnings growth increased to 3.68% in September, its fourth monthly increase in a row. At $29.68 in September, hourly earnings have improved by $1.05 from
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Private equity’s push into accounting
More than a few eyebrows were raised in August when the news broke that TowerBrook Capital Partners had struck a deal to purchase an ownership interest in EisnerAmper LLP, the first such deal between a private-equity concern and a top 20 accounting firm. The financial terms of the agreement were not disclosed, but EisnerAmper said it would use the capital invested by TowerBrook to fuel long-term growth plans. Because audit firms cannot be majority owned by non-CPAs, the deal split EisnerAmper into two entities — an attest firm owned by CPA partners called EisnerAmper LLP and a tax and consulting
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Companies Want FASB to Focus on Crypto, ESG-Related Rule Making
Executives at large public companies want the Financial Accounting Standards Board to write rules on how to treat cryptocurrency assets and transactions related to environmental, social and governance issues. The U.S. accounting standard setter in June launched an agenda consultation, its first in five years, seeking the public’s views on what its long-term priorities should be. Depending on the feedback, the FASB could consider new accounting projects. The board in the coming months expects to discuss its staff’s summary of the public’s responses, which were due late last month, a FASB spokeswoman said. Companies—alongside other stakeholders such as investors, auditors
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Revenue, lease accounting still challenge private companies
Revenue recognition and lease accounting remain a challenge for private companies after a one-year, pandemic-related delay in effective dates provided financial statement preparers some relief. Changes to accounting for revenue under Accounting Standards Update (ASU) 2014-09, Revenue From Contracts With Customers (Topic 606), and leases under ASU 2016-02, Leases (Topic 842), have been on private companies’ radar for many years. In June 2020, FASB deferred the effective dates of these standards for certain companies by one year, to provide relief as a result of the COVID-19 pandemic, by issuing ASU 2020-05. As a result of ASU 2020-05, certain
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Budreck Truck Lines names new CEO
Fleets, email your new hires, promotions, employee certifications and/or accomplishments to [email protected] A round up of trucking’s people news and headline makers for the week of Sept. 5. Budreck Truck Lines names new CEO Chicago-based refrigerated LTL specialist Budreck Truck Lines has named Tim Johnson president. He takes over the position from Budreck’s founder Bradley Subler, who will move into the role of CEO. Johnson has been with Budreck since 1998, having served as general manager and director of sales since 2009. The decision to promote Johnson to the role of President comes as the company enjoys its busiest year
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