Stock market gains and increased job opportunities improved the financial outlook of the average American in the second quarter of 2018 despite rising inflation.
The Ninth Circuit reversed a Tax Court decision invalidating a cost-sharing regulation that requires allocation of stock-based compensation costs between related parties.
Leaders in the auditing profession are committed to continuous improvement in audit quality at a time of significant change, seven prominent executives in the profession said in a joint statement.
A new report explains what audit committees and financial statement users need to know about critical audit matters.
FASB clarified rules and corrected application of guidance for its lease accounting standard.
The SEC raised a disclosure threshold and sought public comment on other ways to modernize its rules for employee stock compensation.
The revised standards are designed to provide a framework for high-quality work by government auditors.
Four states have sued in U.S. district court, asking to invalidate the $10,000 limit on the deduction for state and local taxes enacted as part of last year’s tax overhaul.
News IRS procedures eliminate the requirement for many exempt organizations to list certain substantial donors’ names and addresses on some forms.
FASB made clarifying changes and corrected unintended application of guidance in a standard that updates its Accounting Standards Codification.
Two FASB staff memos issued last month provide insight to private company financial statement preparers on how to overcome implementation challenges that some have encountered with the new revenue recognition standard.
The AICPA’s Tax Executive Committee sent a letter to the IRS, urging the Service to simplify the proposed draft 2019 Form W-4, Employee’s Withholding Allowance Certificate.
The AICPA Auditing Standards Board issued a proposal that would make numerous changes to the attestation standards, including changing the terminology for what have been known as “review engagements.”
Here are five tips that can help not-for-profits prevent some financial statement errors mistakes.
The IRS warned that it is increasingly difficult for it to recognize fraudulent tax returns as cybercriminals succeed in getting more and more accurate information.
The SEC voted to change the definition of “smaller reporting company” in an effort to expand the number of companies that qualify for scaled disclosure accommodations.
The U.S. Securities and Exchange Commission voted to adopt and propose several new rules, including changes to the SEC’s whistleblower program and a requirement to use Inline XBRL in certain filings.
The proposal attempts to reduce diversity in practice on the accounting for complex instruments that have features of debt and equity.
The IRS is working on a draft version of the 2018 Form 1040, U.S. Individual Income Tax Return, that reduces the size of the form to two half-pages in length and eliminates more than 50 lines.
The proposal would realign the definitions of “collections” used in GAAP and the American Alliance of Museums’ Code of Ethics for Museums.