Financial Reporting


The AICPA releases an online tool kit ( www.aicpa.org/members/div/mcs/vm_toolkit.asp ) to facilitate the performance of valuations related to business combinations and to acquired goodwill and other intangible assets, as discussed in FASB Statement nos. 141 and 142, respectively. In addition to practical information on performing fair value measurement engagements for purchase price allocations and goodwill impairment analyses, this resource contains training aids, a bibliography, a discussion of engagement letter considerations and checklists. For further information, contact James C.H. Feldman, CPA/ABV, manager of business valuation and litigation services, at jfeldman@aicpa.org .

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.