Accounting


 

For news from the AICPA and state societies, visit www.cpa2biz.com , which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites.
 
FASB issues as final five staff positions on Interpretation no. 46, Consolidation of Variable Interest Entities ( www.fasb.org/fasb_staff_positions/final_fsp.shtml ). The guidance addresses the interpretation’s applicability to organizations subject to the AICPA Audit and Accounting Guide, Health Care Organizations: Checklist and Illustrative Financial Statement, and the treatment of variable interests in specified assets of a variable interest entity. It also discusses transition requirements for applying the interpretation and calculating expected losses.

SPONSORED REPORT

A new line of business to consider

Technology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.