Financial Reporting

FASB’s Emerging Issues Task Force issued a draft abstract intended to improve the comparability of earnings per unit calculations for master limited partnerships. The abstract addresses how current-period earnings of a master limited partnership should be allocated to general partners, limited partners, and, when applicable, incentive distribution rights, when applying EITF Issue no. 07-4, Application of the Two-Class Method Under FASB Statement No. 128, Earnings per Share, to Master Limited Partnerships.

Comments on the abstract were due Feb. 8 and are scheduled to be considered by the task force at its meeting March 12–13. The draft is available at


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.