To perform a high-quality audit, practitioners need a thorough understanding of FASB’s new standard and its implications for their clients’ financial statements.
July 2020 - Journal of Accountancy
- Magazine
- July 2020


Accounting for sale and leaseback transactions
FASB’s new standards for revenue recognition and lease accounting have significantly changed the accounting for these popular transactions.

FASB’s new cloud computing standard reduces complexity
In its Accounting Standards Update No. 2018-15, FASB’s guidance on how to account for implementing a cloud computing service contract aligns with buying an asset.

Technology lessons from the pandemic — and beyond
The upheaval of the coronavirus crisis caused the accounting profession to turn to technology like never before. Our technology roundtable discusses what was learned — and what the future holds.

Former kiddie tax rules restored
Congress reverses changes made to the kiddie tax in the Tax Cuts and Jobs Act, allowing affected taxpayers to amend their returns.

Ask the expert: Investing with an eye on taxes
Duncan Gates is Avantax’s Strategist–TSI Advisor Experience. In this role, he is responsible for providing education on tax-related topics and concepts, advisor training, and distribution of the Tax-Smart Investing platform.
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Preparing clients for new provisions next tax season
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.