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FASB issues an Invitation to Comment, Accounting for Stock-Based Compensation: A Comparison of FASB Statement No. 123, Accounting for Stock-Based Compensation, and Its Related Interpretations, and IASB Proposed IFRS, Share-based Payment ( ). The new FASB document examines the differences and similarities between the two rules. Both standard setters concluded that companies using stock options or other goods or services to compensate employees or others should report them as an expense and that the reported amount should be calculated on the basis of the items’ fair value when granted. The International Accounting Standards Board’s proposed international financial reporting standard can be found at and a summary of the 1995 FASB statement at . Responses to the FASB invitation are due February 1. Comments on the IASB ED are due March 7.

AcSEC releases Statement of Position (SOP) 02-2, Accounting for Derivative Instruments and Hedging Activities by Not-for-Profit Health Care Organizations, and Clarification of the Performance Indicator. The SOP is effective for fiscal years beginning after June 15, 2003. It amends the AICPA audit and accounting guide Health Care Organizations to address how nongovernmental, not-for-profit health care organizations should report gains or losses on hedging and nonhedging derivative instruments under FASB Statement no. 133, Accounting for Derivative Instruments and Hedging Activities, as amended. The SOP also amends the guide to clarify that the performance indicator—or earnings measure—health care organizations report is analogous to income from continuing operations of a for-profit enterprise. Copies of the statement (product code 014935JA) are available from the AICPA at 888-777-7077.

FASB issues Interpretation no. 45, Guarantor’s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others. It adds to guidance in FASB Statement no. 5, Accounting for Contingencies; Statement no. 57, Related Party Disclosures; and Statement no. 107, Disclosures About Fair Value of Financial Instruments, and it incorporates without change the provisions of Interpretation no. 34, Disclosure of Indirect Guarantees of Indebtedness of Others, which it supersedes. The document addresses the need for better reporting of guarantees companies issue in conjunction with certain transactions, as when a seller guarantees its customer’s repayment of funds borrowed to pay the seller for the customer’s purchases. There are exceptions to the guidance’s applicability, among which are guarantee contracts insurance companies issue. The interpretation’s initial recognition and measurement provisions apply prospectively to guarantees issued or modified after December 31, 2002, regardless of when the guarantor’s fiscal year ends. Its disclosure requirements are effective for financial statements of interim or annual periods ending after December 15, 2002. Copies of the interpretation can be obtained online at or by calling 800-748-0659.


How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.


Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.


News quiz: Scam email plagues tax professionals—again

Even as the IRS reported on success in reducing tax return identity theft in the 2016 season, the Service also warned tax professionals about yet another email phishing scam. See how much you know about recent news with this short quiz.