Openness to change and lifelong learning can help CPAs thrive amid accelerating tech development, says AICPA fall Council speaker Jeffrey Rogers.
The memorandum lists 10 challenges in order of importance, ranging from data security to achieving operational efficiencies.
Effective dates will be delayed for private companies and certain other entities for FASB’s standards on accounting for leases, credit losses, and hedging after a unanimous vote by FASB.
A FASB proposal could render obsolete a valuable financing option for health care entities known as variable-rate debt obligations (VRDOs).
The IRS finalized regulations permitting taxpayers to deduct disaster losses in the prior tax year and removed the related temporary regulations that were issued in 2016.
The steady growth in assurance of sustainability reports suggests that companies increasingly perceive that there are net benefits of having their sustainability reports assured.
The IRS ruled that a taxpayer does not have gross income as a result of a hard fork of a cryptocurrency if the taxpayer does not receive units of a new cryptocurrency, but does have gross income as a result of an airdrop of new cryptocurrency after a hard fork if the taxpayer receives units of the new cryptocurrency.
The first auditor’s reports containing the PCAOB’s newly required critical audit matters are available in public company annual reports.
U.S. shareholders who own stock in foreign corporations were given a safe harbor by the IRS, making it easier for them to establish that they are not shareholders in a controlled foreign corporation, or CFC.
An overwhelming 92% of American parents say it is very important that children understand how to effectively manage their money, according to a new poll conducted for the AICPA by The Harris Poll.
A new accounting standard for federal government agencies eliminates the required stewardship information category and updates references to lease accounting.
The IASB and GASB acted to help financial statement preparers with the phaseout of interbank-offered rates that are used as interest rate benchmarks.
In comments submitted to the IRS, the AICPA requested expeditious guidance concerning adjustments attributable to conversions from an S corporation to a C corporation.
The SEC issued new rules for testing the waters on IPOs and modernizing regulation of ETFs. It also proposed amendments to enhance protections for investors.
Reports on surveys gauged finance professionals’ thinking on the economy and the hiring and supply of accounting graduates. See how much you know (or catch up on the latest news) with this short quiz.
The IRS issued its annual notice specifying the special per-diem rates, including the transportation industry meal and incidental expenses rates, the rate for the incidental-expenses-only deduction, and the rates and list of high-cost localities for purposes of the high-low substantiation method.
The IRS issued a revenue procedure describing the requirements taxpayers have to meet to be a rental real estate business that qualifies for the safe harbor to be treated as a trade or business in order to qualify for the Sec. 199A qualified business income deduction.
New guidance for performing single audits is contained in the Office of Management and Budget’s 2019 Compliance Supplement.
The IRS issued final regulations governing hardship distributions from Sec. 401(k) plans, eliminating the requirements that participants obtain a loan from the plan if available and that suspend participants’ ability to make contributions to the plans for six months after taking a hardship distribution.
Locating and reporting on lease arrangements hidden in contracts that are not labeled as leases can be a challenge under FASB’s new rules.