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
FINANCIAL REPORTING
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.
FINANCIAL REPORTING
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
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.
TAX
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.
ADVERTISING SUPPLEMENT
Ask the expert: Investing with an eye on taxes
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COLUMNS
CHECKLIST
PROFESSIONAL LIABILITY SPOTLIGHT
From the Tax Adviser
TAX PRACTICE CORNER
TAX MATTERS
THE LAST WORD
FROM THIS MONTH'S ISSUE
Start in high school to strengthen the accounting profession
A practitioner-led outreach program, born of a university, accounting professionals, and local community collaboration, shows how to successfully engage high school students with the modern accounting profession.
