Accounting


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The AICPA staff issued two technical practice aids (TPAs) ( www.aicpa.org/members/div/acctstd/ ) on the applicability of FASB Interpretation no. 45, “Guarantor’s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others” ( www.fasb.org/st/summary ). TPA 6400.45 addresses physician loans, and TPA 6400.46 discusses mortgage guarantees. Practitioners are encouraged to implement the guidance as soon as possible.

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

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