Crooch Appointed to FASB

The trustees of the Financial Accounting Foundation (FAF) in January named G. Michael Crooch to a five-year term on the seven-member FASB, effective July 1, 2000. He replaces Vice-Chairman James J. Leisenring, who, having served two terms, is not eligible for reappointment. Both are recognized for their work in international accounting.

Crooch, a partner and director in Arthur Andersen LLP’s international professional standards group, is the AICPA’s delegate to the IASC and a member of the IASC’s executive committee. He was chairman of the AICPA’s accounting standards executive committee (AcSEC) from 1994 to 1997.

Leisenring joined FASB in 1987, becoming vice-chairman a year later. He is chairman of the G4+1 group of standard setters.

GASB Adds New Member

The FAF appointed William W. Holder to a five-year term as a part-time member of GASB, beginning July 1, 2000. Holder will replace GASB Vice-Chairman Robert J. Freeman, who, after 10 years on the board, cannot be reappointed.

Holder, a member of the AICPA’s board of directors and council and also of its state and local government committee, is the author of several works on governmental accounting and reporting issues.

In addition to serving on the board, Freeman is the distinguished professor of accounting at Texas Tech University.


6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.


How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.