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.
The Private Company Council is encountering challenges as it advocates for the smallest private companies in FASB’s process for setting accounting standards.
The IRS issued the 2017 standard mileage rates for determining the deductible costs for operating a vehicle for business, medical, charitable or moving purposes.
Audit committees can use a new tool to exercise their oversight role during implementation.
Despite regulation remaining a top concern for U.S. businesses, optimism is growing in the wake of the presidential election.
GASB issued guidance for state and local governments to address asset retirement obligations related to tangible capital assets.
A proposal issued by FASB addresses the complexity involved in accounting for certain financial instruments associated with liability and equity.
Efforts by auditors in three key areas have led to improved quality in audits, PCAOB inspections show.
Political decisions that may affect cross-border business policies in the United States and the United Kingdom have so far had no effect on international accounting standards, Hans Hoogervorst said.
Some companies and accounting firms have told FASB that their resources are stretched as they implement the board’s numerous recently issued standards.
For firms that offer virtual CFO and other client accounting services, the category is becoming a significant contributor to the top line, according to the results of a survey from the AICPA Private Companies Practice Section and CPA.com.