Financial Reporting


FASB issues employee compensation guidance ( www.rutgers.edu/accounting/raw/fasb/eitf/eitfissu.html#00-23 ).

FASB issues an exposure draft on accounting for goodwill ( www.rutgers.edu/accounting/raw/fasb/news/nr021301.html ). The comment period ended March 16.

Accounting for financial asset transfers, servicing addressed in FASB report ( accounting.rutgers.edu/raw/fasb/project/125summary.html#Q&A ).

SEC issues final rule that says mutual funds must disclose after-tax returns ( www.sec.gov/rules/final/33-7941.htm ). Effective April 16.

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.