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.

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.