Correction


CORRECTION
The July article titled “A Risk-Based Approach to Journal Entry Testing” misstated the proper use of Excel’s WEEKDAY function. By default, the function assigns the number 1 to Sunday, 2 to Monday, and so on, with Saturday being 7. Therefore the article should have said that identifying journal entries made on a weekend would entail filtering all WEEKDAY(Date_Field) values that are equal to 1 or 7. The JofA regrets the error.

SPONSORED REPORT

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.

PODCAST

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.