FASB proposed clarifications and changes to its recently issued accounting standards on credit losses, hedging, and recognition and measurement.
The IRS issued final regulations on the use of negative adjustments under Sec. 263A’s simplified methods for determining costs that must be capitalized.
The AICPA Financial Reporting Executive Committee (FinREC) published a working draft on inventory valuation and is seeking comments on the draft.
The following quiz is designed to give you practice in choosing the “right” word in business communication.
The IRS issued the 2019 annual inflation adjustments for many tax provisions as well as the 2019 tax rate tables for individuals and estates and trusts.
FASB changed the transition requirements and clarified the scope of its standard on accounting for credit losses, which was issued in 2016.
Veteran tax attorney Charles Rettig gives his first public address as new IRS commissioner, speaking to CPAs Tuesday at the AICPA National Tax Conference in Washington.
A new FASB staff paper provides information to private company franchisors as they decide how to recognize certain franchise fees under the new revenue recognition standard.
A majority of S&P 500 companies chose the simplicity of the modified retrospective transition for their revenue recognition standard implementation, a new white paper shows.
New industry-specific sustainability accounting standards published by the Sustainability Accounting Standards Board are designed to help investors and companies make informed decisions about long-term value.
FASB issued a proposal that would align the accounting for production costs of an episodic TV series with the accounting for films.
The Social Security Administration said that the amount of wages subject to the old age, survivors, and disability insurance (OASDI) tax for 2019 will be $132,900, increased from 2018’s maximum of $128,400.
The IRS issued final regulations on the penalty that applies to tax return preparers who fail to exercise due diligence in preparing returns for taxpayers who are claiming head-of-household filing status, the earned income tax credit, the child tax credit, the additional child tax credit, or the American opportunity tax credit.
In a new standard, FASB clarified the interaction between the guidance for certain collaborative arrangements and the revenue recognition standard.
The IRS released updated figures for retirement plan contribution limits for 2019.
Here’s what company leaders need to know about an implementation job that may be arduous.
Audit committees for public companies are providing more information to the public on their procedures for oversight of external auditors, according to an analysis conducted by the Center for Audit Quality and Audit Analytics.
The IRS issued proposed regulations providing that Sec. 956, which requires an income inclusion by U.S. shareholders of controlled foreign corporations (CFCs) that invest in U.S. property, should not apply to corporate shareholders.
FASB expanded an accounting alternative for private companies and changed the rules for all entities for deciding whether a decision-making fee is a variable interest.
The IASB revised its definition of “material” in an effort to make it easier for companies to decide which information is important enough to include in their financial statements.