Financial Reporting

Two advisories from FASB will help entities implement new rules. One defines the “reporting unit” of an enterprise as a key element in testing for goodwill impairment resulting from an acquisition. A second release clarifies certain provisions for making the transition to two new standards—FASB Statement nos. 141, Business Combinations, and 142, Goodwill and Other Intangible Assets. ( )


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.