Accounting


 
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The SEC in March released Staff Accounting Bulletin (SAB) no. 105, Application of Accounting Principles to Loan Commitments ( www.sec.gov/interps/account/sab105.htm ). It adds section DD, “Loan Commitments Accounted for as Derivative Instruments,” to topic 5, “Miscellaneous Accounting,” of the commission’s codification of SABs. The new section provides interpretive guidance SEC-registered companies should consider when recognizing such commitments, and it emphasizes certain disclosure requirements that may be relevant to mortgage banking activities.

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In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.