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The Institute launched a Web-based survey to assess how well private company financial reports meet the needs of those who use them: bank lenders; investors and venture capital/buyout companies; surety, bonding and insurance companies; business owners and managers; and auditors and others ( ). The survey also asks whether the cost of gathering information for private-company GAAP-based financial statements—as in public-company reporting—is justified. The online poll and a telephone survey augmenting it will continue until September 15. While individual responses will be kept confidential, the general results of the survey will be announced this fall. A related discussion paper offers differing views on various aspects of private-company financial reporting ( ).


6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.


How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.