Government Accounting

GASB issued an exposure draft of a proposed guidance statement titled Accounting and Financial Reporting for Intangible Assets to answer questions about whether and when certain intangibles should be considered capital assets in financial reports. Intangibles frequently encountered by governments include easements, water and timber rights, patents, trademarks and computer software, GASB noted.

Specifically, the proposed statement would require that certain intangible assets be classified as capital assets and addresses issues of identifying, recognizing and amortizing them. Provisions of the proposed guidance generally would be applied retroactively and be reflected in financial statements for periods beginning after June 15, 2009. Comments on the draft, which is available at , are requested by March 23.



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.