Corrections


The article "A New Day for Business Combinations" (June 08, page 34) misstated the treatment under FASB Statement no. 141(R) of contingent consideration involving shares. The article should have stated that contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.

The article "Long-Term Care Insurance and Tax Planning" (Aug. 08, page 44) incorrectly characterized tax law concerning eligibility of long-term care (LTC) expenses for coverage under flexible spending arrangements (FSAs). The article should have said that FSAs (and health reimbursement arrangements that are FSAs) cannot be used to pay for either LTC insurance premiums or LTC expenses.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.