Institute Briefs Congress on Its Financial Reporting Innovations

Melancon tells House of AICPA financial reporting advances

AICPA President and CEO Barry C. Melancon testified at a March hearing of the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises regarding two AICPA-launched initiatives—extensible business reporting language (XBRL) and enhanced business reporting (EBR)—that are key elements in a new financial reporting model much needed by the economy, capital markets and investors. “Today, investors, lenders and other users of financial information need to make decisions much faster and more often based on what is currently happening and what may happen in the future, in addition to what has occurred solely in the past,” he said. Also testifying were U.S. Chamber of Commerce Senior Vice-President David Hirschmann, Securities Industry Association President Marc E. Lackritz and Financial Executives International President and CEO Colleen Cunningham.

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CPEOs provide peace of mind around payroll services

The creation of these new IRS-certified service providers for small businesses clarifies some issues around traditional professional employer organizations.

QUIZ

8 sentences to help you master subject-verb agreement

When professionals prepare written material for readers inside their organization or outside, they should make sure that no errors distract from the message they need to convey. Take this short quiz for practice in subject-verb agreement.