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.

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

TECHNOLOGY Q&A

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.

QUIZ

News quiz: Economy and health care changes top CPAs’ list

CPA decision-makers’ economic outlook and the House Republicans’ proposed tax changes as part of replacing the Patient Protection and Affordable Care Act received attention recently. See how much you know with this short quiz.