AICPA Offers Aids on Fair Value of Alternative Investments

The AICPA has published a set of free technical practice aids that offer nonauthoritative implementation guidance to FASB’s Accounting Standards Update 2009-12, Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). These entities, often called alternative investments, include hedge, private equity and real estate funds.


The FASB rule allows an investor, as a practical expedient, to estimate the fair value of an alternative investment on the basis of its net asset value if certain criteria are met. It is effective for reporting periods ending after Dec. 15, 2009.


Technical Practice Aids sections 2200.18–.27 cover a series of issues related to the FASB rule, such as determining whether net asset value calculation is consistent with the FASB Codification Topic Financial Services—–Investment Companies, determining whether an adjustment to net asset value is necessary and certain disclosure considerations.


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.