Financial Reporting

Financial Executives International CEO and President Colleen Cunningham identified the following topics ( ) as 2005’s top 10 financial reporting challenges: accounting for stock options, internal controls reporting, revenue recognition, uncertain tax positions in financial statements, repatriation of foreign earnings, accounting for business combinations, accounting for inventory costs, disclosure of off-balance-sheet arrangements, adoption of the extensible business reporting language and SEC guidance on management discussion and analysis.

The SEC established a voluntary program under which registrants may submit certain mandatory filings to the commission ( ) in extensible business reporting language (XBRL) format. The program, which begins with the 2004 calendar yearend reporting season, will assess registrants’ ability to properly tag their data in XBRL and the benefits of using tagged data for analysis. (For more on XBRL, see “ XBRL: A Multitalented Tool .”)


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.