Government Accounting


GASB approves Statement no. 40, Deposit and Investment Risk Disclosures, to inform financial statement users of risks related to credit, interest rates, foreign currency or other factors that could affect a government’s ability to provide services and meet its obligations ( www.gasb.org/st/index.html ). The guidance, which amends Statement no. 3, is effective for financial statements for periods beginning after June 15, 2004, but the board encourages earlier application. Copies (product code GS40) can be ordered on the Web at http://store.yahoo.com/gasbpubs/publications.html or by phone at 800-748-0659.

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Tax reform complicates year-end tax planning

Get your clients ready for tax season with these year-end tax planning strategies, which address how to make the most of recent tax law changes, such as the new deduction for qualified business income and the cap on the deductibility of state and local taxes.

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What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.