The transfer of 600 General Electric workers helps the Big Four firm grow its international expertise at a time when global tax strategy is growing in importance.
The IASB issued clarifications to standards related to income taxes, borrowing costs and investments in associates and joint ventures.
FASB addressed balance sheet classification of debt and the disclosure requirements for inventory under the board’s Disclosure Framework.
The AICPA has updated its guidance on the competencies and information that CPAs who provide financial planning services need to know.
The IRS released its annual notice containing the 2017 inflation-adjusted amounts for the maximum vehicle values to determine the amount that is included in employees’ income for personal use of an employer-provided vehicle.
The definition was clarified because of concerns that many transactions that should be considered asset acquisitions were being recorded as business acquisitions for accounting purposes.
The IRS issued a notice that provides the requirements for a payee to make an election to not have the safe harbor for de minimis errors on information returns below certain amounts apply to a payer.
The latest drafts address issues in the aerospace and defense, telecommunications, and time-share industries.
Three possible alternative recognition approaches for governmental fund reporting are included in an Invitation to Comment issued by GASB.
Financial statement preparers and auditors face important challenges as they implement FASB’s new revenue recognition standard.
In technical improvements issued Wednesday, the FASB addressed 13 narrow issues related to its new revenue recognition standard.
The FASAB issued a proposal that would change the requirements for a reconciliation between budgetary and financial accounting information.
The IRS extended for one year its waiver of the eligibility rule that generally prevents taxpayers from using the automatic accounting method change procedures to change the treatment of the same item more than once within a five-year period.
Starting this year, FBARs have a new, April 15 due date, with extensions to Oct. 15.
Executives ranked the business environment as riskier than in previous years, but many don’t plan to devote more resources to risk management, according to a new survey.
The expiring provisions include tax incentives for individuals and businesses, as well as several energy provisions.
Before finalizing its proposed targeted improvements to accounting for long-duration insurance contracts, FASB should field-test them, two AICPA groups recommended in a joint comment letter.
CPAs will remember 2016 as a year of new standards and new faces.
FASB issued numerous technical corrections and clarifications to GAAP that are designed to remove inconsistencies in the board’s accounting guidance.
The Senate passed the 21st Century Cures Act, which, among other things, permits certain employers to offer health reimbursement arrangements to employees without running afoul of the Patient Protection and Affordable Care Act’s market reform provisions.