FASB News Pending Disclosure Rules on Government Incentives Don’t go Far Enough FASB has gotten a lukewarm response from market watchers on pending new disclosure…
FASB News Eight Issues Surfaced in Post-Mortem of Revenue Accounting Rules FASB said eight topics surfaced as challenges for public companies in its post-implementation review…
Leveraging Low-Cost Technology to Attract the Next Generation of Clients
Adapting to a Changing Environment
Providing services for current clients is often easier for CPA firms than recruiting new clients or tailoring existing services. Although CPAs should strive to meet…
IASB News Extra 290 Days for Feedback on Proposed Disclosure Rules Users of IFRS standards will get an extra 290 days to evaluate proposed changes…
FASB News Should the EITF’s Purview be Broadened? Some accounting professionals have suggested that FASB broaden the Emerging Issues Task Force’s (EITF) purview so that…
The Consolidated Appropriations Act of 2021 (CAA) (P.L. 116-260) funds the government for its fiscal year ending September 30, 2021, and makes major tax changes…
The Consolidated Appropriations Act of 2021 (CAA) (H.R. 133), which has become notorious for its length of 5,593 pages, funds the government for its fiscal…
FASB News Life Insurers Ask for Expanded Hedge Accounting Proposal Recent comments from the insurance sector advocated that a recent FASB proposal to provide a…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
FASB News Decisions on Restricted Equity Stock Sales Would Cause Investment Funds to Overstate Assets FASB’s recent decisions related to valuing equity securities that are…
The Volunteer Treasurer’s Handbook
Book Review
Howard Levy has done a great service to both the nonprofit community and to those who serve it. So few resources are available to provide…
FASB News Two GAAP Taxonomy Implementation Guides Proposed for Public Comment FASB’s Extensible Business Reporting Language (XBRL) staff said companies can now weigh in on…
FASB News Annual Goodwill Impairment Test Might Be Eliminated FASB said it favored doing away with the annual goodwill impairment test for public companies, signaling…
The coronavirus (COVID-19) pandemic has forced many organizations to either shut down temporarily or operate remotely. This shift to remote work will likely persist into…
FASB News Commenters Press Dire Need for Crypto Accounting Rules FASB should develop an accounting framework to address cryptocurrencies because the value of such assets…
The coronavirus (COVID-19) pandemic has reminded CPAs that the world is risky, volatile, and uncertain. Some risk experts contend that the world has been this…
PCAOB News SEC Removes PCAOB Chairman Duhnke, Seeks to Fill All Board Member Positions The SEC said that William Duhnke was “removed” as chairman of…
ICYMI | Pandemic Payroll
How a Permanent Remote Workforce Will Affect Taxes
Most businesses throughout the United States have introduced or expanded their work-from-home policies in the wake of the coronavirus (COVID-19) pandemic, forcing companies to adjust…
Charitable Contribution Benefits Extended by the Consolidated Appropriations Act
Private Foundations May Benefit
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed in March 2020, temporarily removed the adjusted gross income (AGI) limitation on the deduction of…
FASB News Business Combination Rule Could Change FASB is examining whether to change the rules regarding accounting for business combinations with respect to the subsequent…
The $1.9 trillion American Rescue Plan Act (ARPA) of 2021 (PL 117-2) was signed into law on March 11, 2021. The wide-ranging law contains many…
The $1.9 trillion American Rescue Plan Act (ARPA) of 2021 (PL 117-2) was signed into law on March 11, 2021. The wide-ranging law contains many…
FASB News More Tweaks Coming to Credit Loss Accounting Rules? FASB could decide at a future meeting on whether to tweak credit loss accounting rules…
FASB News Congress Presses FASB to Tackle Accounting for Cryptocurrencies A bipartisan congressional group has asked FASB to establish accounting standards for digital assets such…
ICYMI | A First Look at the American Rescue Plan Act of 2021
Provisions Affecting Individual Taxpayers
On March 11, 2021, President Biden signed into law H.R. 1319, the American Rescue Plan Act of 2021 (ARPA). In the midst of the coronavirus…
FASB News Webcast on New Accounting for Gifts-in-Kind Announced Accountants and others that work with charities and other not-for-profit organizations can now register for a…
When people reach a certain age, a questioning of purpose and direction often happens. Although the entertainment media often satirizes such events, the opportunity to…
FASB News Final Accounting Rules Related to Share Option Awards Being Drafted On April 20, the Private Company Council (PCC) tentatively voted to draft final…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Pandemic Perceptions
Accounting Firms’ Organizational Support during COVID-19
The onset of the coronavirus (COVID-19) pandemic forced many CPA firms to mandate work-from-home arrangements for their employees. How has this sudden shift in the…