NEWS

New FASB standards keep focus on simplification

FASB issued separate accounting standards Wednesday that are designed to simplify reporting of certain employer retirement obligations and assets, as well as provide explicit guidance about how to account for fees paid in a cloud-computing arrangement.

CPAs select security as top technology priority

A steady stream of high-profile cybercrimes involving corporate and customer data has captured the attention of North American accounting professionals, who ranked IT security as their top technology priority.

Wife of anti-tax author sentenced to prison

Doreen Hendrickson, wife of tax protester author Peter Hendrickson, who wrote the antitax book Cracking the Code, has been sentenced to 18 months in prison for criminal contempt after failing to file amended tax returns as ordered by a court and for filing a false return.

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NEWS

Revenue recognition revisited

A reexamination of new revenue recognition rules has led to tinkering with the standard that is considered the biggest achievement of the convergence efforts of FASB and the International Accounting Standards Board.

INTERVIEW

Staying focused at the top

Olivia Kirtley, CPA, CGMA, an accomplished corporate director with almost 20 years of experience serving on boards, talks about strategic, risk, and compliance issues that keep board members up at night.