Senior financial executives in Canada are increasing their oversight of human resources, but many rate their knowledge of HR functions as moderate or average, according to a new survey. Sixty-one percent of Canadian financial executives reported that they have taken on more accountability for HR functions such as payroll, recruitment,
Advertisement
Businesses lagging in preparation for new health care laws
Many U.S. employers are lacking in preparation for—and awareness of—new health care laws, according to a survey. More than one-third (36%) of more than 800 corporate decision-makers said they are not very familiar with the requirements of the Patient Protection and Affordable Care Act, P.L. 111-148, according to a survey
Four factors that will influence the L.A. Clippers’ sale price
Three quantifiable factors will influence the sale price of the Los Angeles Clippers—and one more will trump them all, business valuation (BV) experts say. The Clippers have been the talk of the sports world for the past couple of weeks after media outlets began airing a tape of racist comments
FAF, FASB, GASB path includes overarching projects
Global standard setting is taking a new path and U.S. accounting standard setters are preparing to consider foundational projects, according to forward-looking information published Thursday in the annual report of the Financial Accounting Foundation (FAF). Board chairmen Russell Golden of FASB and David Vaudt of GASB, whose organizations are overseen
Final rules on fiduciary fees are issued
The IRS issued final regulations on the controversial question of which costs incurred by trust and estates are subject to the 2% floor on miscellaneous deductions under Sec. 67(a) (T.D. 9664). The regulations will apply to tax years beginning on or after May 9, 2014. The final regulations retain from
PCAOB asks for additional comments on standards reorganization
The PCAOB is asking for additional comment on its proposal for reorganizing the board’s auditing standards. The framework would reorganize the existing PCAOB-issued and interim auditing standards by topic with a single numbering system. The original comment period for the proposal ended May 28, 2013. Along with a supplemental request
Accounting method change procedures for sales-based royalties and vendor allowances are announced
Taxpayers who are adopting the rules for sales-based royalties and vendor allowances under Sec. 263A and Sec. 471 provided in T.D. 9652 were given new procedures for obtaining automatic consent to accounting method changes to conform to those rules (which apply to tax years ending on or after Jan. 13,
SEC issues warning about bitcoin investments
The SEC is urging investors to proceed with caution when evaluating potential investments related to bitcoin. Bitcoin-related investment opportunities may come with a heightened risk of fraud, the SEC warned in an investor alert issued Wednesday. In the alert, the SEC said the rise of bitcoin and other virtual and
IASB establishes principles for cooperation with other standard setters
An updated charter published Wednesday by the International Accounting Standards Board (IASB) establishes principles for the board’s cooperation with national standard-setting bodies, as represented by the International Forum of Accounting Standard Setters. The updated charter: Re-emphasizes the importance of the global standard-setting community to the IASB’s work and builds on
IASB issues new standard for acquisitions of joint operations
New international accounting rules for acquisitions of interests in joint operations were published Tuesday by the International Accounting Standards Board (IASB). Amendments to IFRS 11, Joint Arrangements, specify the appropriate accounting treatment for an acquisition of an interest in a joint operation that constitutes a business. The IASB decided that
How to make a splash in consulting in career’s final act
In an uncertain economy, many CFOs are eyeing consulting as a possible career path as they approach retirement. It’s a path Thomas Rhine, CPA, CGMA, is glad he followed after spending years as a senior finance officer in the higher education industry. “The transition, for me, it felt like a
Proposed rules would amend definition of acquiring corporation in corporate reorganizations
On Tuesday, the IRS issued proposed regulations under Sec. 381 that in certain acquisitions would change which corporation succeeds to the tax attributes, including the earnings and profits (E&P), of the transferor or distributor corporation (REG-131239-13). In earlier, related proposed regulations under Sec. 312, the IRS clarified that, in certain
Tax owed on full sale price where taxpayer won’t provide cost basis information
The Eleventh Circuit Court of Appeals upheld a deficiency notice of more than $5 million against a taxpayer who reported adjusted gross income of $22,921 and taxable income of $13,221 on his late-filed 2006 return (Hoang, No. 13-14398 (11th Cir. 5/2/14), aff’g T.C. Memo. 2013-127). Diep Hoang’s 2006 tax return
Four themes for growth-conscious CFOs
The time for accepting flat revenue numbers has passed, say the CFOs with whom Nick Araco has spoken in the past six months. And the era in which CFOs let others handle the technology initiatives also seems to be fading, reflecting the continuing change of the CFO role. Araco, the
Portions of conflict minerals rule stayed by SEC
Companies will not have to explicitly declare whether their products contain minerals that originated in mines in the Democratic Republic of Congo or its neighboring countries, according to the SEC. The SEC issued an order Friday staying the effective date for compliance with portions of its conflict minerals rule that
IRS announces two-year FATCA enforcement transition period
Foreign financial institutions that make a good-faith effort to comply with the requirements of the Foreign Account Tax Compliance Act (FATCA) will benefit from lighter enforcement during 2014 and 2015, the IRS announced on Friday (Notice 2014-33). The IRS is treating those years as a “transition period” for the implementation
FASAB proposes delay in long-term fiscal projections transition
The Federal Accounting Standards Advisory Board (FASAB) is proposing that new presentation requirements for long-term fiscal projections for the U.S. government and related disclosures be delayed one year, to take effect in fiscal year 2015 rather than fiscal year 2014. The standard requires projections and related disclosures to be presented
Revenue recognition: Do companies have enough time for implementation?
Companies may face a serious time crunch with implementation of the new, converged financial reporting standard for revenue recognition despite a seemingly long transition period, General Electric Controller and Chief Accounting Officer Jan Hauser said Thursday. The much-delayed standard, which has been approved by FASB and the International Accounting Standards
Five key issues FASB may change in financial reporting
FASB is preparing to consider foundational changes that could significantly alter financial reporting in the future as well as standards improvements that will reduce complexity, board Chairman Russell Golden said Thursday. Here are five issues that will be studied and debated by FASB in the coming years under active projects,
SEC slightly amends conflict minerals reporting requirements
The SEC has amended its conflict minerals reporting requirements after an appeals court struck down part of the rule. Under the conflict minerals rule, issuers are required to attempt to determine whether the gold, tantalum, tin, and tungsten used in their products originated in mines operated by warlords in the
Features
FROM THIS MONTH'S ISSUE
Create interactive dashboards with Excel PivotCharts and slicers
Leave the static spreadsheets behind. This JofA Technology Q&A article with video walkthrough provides a step-by-step guide for creating interactive dashboards in Excel that decision-makers can use.
From The Tax Adviser
January 31, 2026
Trust distributions in kind and the Sec. 643(e)(3) election
January 31, 2026
Effects of the OBBBA on higher education
December 31, 2025
