Financial Reporting

Levitt ends his tenure at SEC
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FASB tentatively decides against write-downs of preexisting goodwill
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SEC, standard setters recommend reporting financial instruments at fair value
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FASB’s derivatives group adds to guidance on Statement no. 133
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FASAC survey prioritizes FASB projects
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FASB delays financial statement consolidation
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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.