Financial Reporting


The SEC invited mutual funds to join other registrants already voluntarily submitting their filings electronically in extensible business reporting language (XBRL) format ( www.sec.gov/spotlight/xbrl.htm ). The commission will assess registrants’ ability to properly tag their data in XBRL and will weigh the benefits of tagged data. Information on XBRL is available at www.xbrl.org .

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.