Accounting


 

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The Institute launched a Web-based survey to assess how well private company financial reports meet the needs of those who use them: bank lenders; investors and venture capital/buyout companies; surety, bonding and insurance companies; business owners and managers; and auditors and others ( http://survey.themsrgroup.com/aicpa.html ). The survey also asks whether the cost of gathering information for private-company GAAP-based financial statements—as in public-company reporting—is justified. The online poll and a telephone survey augmenting it will continue until September 15. While individual responses will be kept confidential, the general results of the survey will be announced this fall. A related discussion paper offers differing views on various aspects of private-company financial reporting ( www.aicpa.org/members/div/acctstd/pvtco_fincl_reprt/index.htm ).

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