Accounting


For news from the AICPA and state societies, visit www.cpaweb.org , which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites.
FASB reaffirms its restrictions on how banks can qualify for sale accounting treatment and issues a series of related questions and answers ( accounting.rutgers.edu/raw/fasb/project/125summary.html ).

A new study says FASB’s imminent ban on pooling will make solid balance sheets and abundant cash flows—not high PE ratios—the most powerful bargaining tools in mergers and acquisitions ( www.ml.com/about/press_release/pdf/accounting_overview.pdf ).

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.