Government Accounting


GASB issues a proposed Technical Bulletin, Tobacco Settlement Recognition and Financial Reporting Entity Issues, which addresses accounting treatment by state or local governments in connection with settlements made by U.S. tobacco companies ( www.gasb.org/exp/tb2003-b.pdf ). The proposal also clarifies asset and revenue recognition guidance for such transactions by the settling governments and the settlement authorities. Comments are due March 2.

SPONSORED REPORT

How the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out