Financial Reporting

FASB introduced a project intended to make financial statement disclosures more useful, organized and consistent, and less redundant. It will focus on developing a framework for improved GAAP disclosures.


The project will evaluate and address whether the disclosure framework should: apply to all entities or exclude private or nonprofit entities; apply to interim reporting; focus only on high-level principles; focus only on notes to financial statements or extend to ways to better integrate information provided in financial statements, MD&A and other parts of a company’s public reporting package.


FASB expects to issue a preliminary views document in the first half of 2010.


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.


Tips for first-year auditors

For a new auditor, the first busy season can be an exciting time and a fantastic opportunity for professional growth. Here are suggestions for new auditors and those who nurture their development.