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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.


Keeping client information safe in an age of scams and security threats

A look at the Dirty Dozen tax scams and ways to protect taxpayer information.


How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.


News quiz: IRS enforcement, a hot job, and audit value

The IRS’s 2016 Data Book, a “hot job” of particular interest at this time of year, and insight into how executive and audit committees view the insights from financial statement audits received attention recently. See how much you know with this short quiz.