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.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.

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.