FASB issued two exposure drafts that address the use of materiality—an attempt to help organizations eliminate unnecessary disclosures in financial statements.
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IASB to propose temporary measures for insurance companies
The IASB will propose temporary measures to address concerns about issues insurance companies are facing with implementation of the new financial instruments standard.
Career training a key tool to lure accounting talent
Competitive salaries, benefits and perks may not be enough to lure top accounting and finance job candidates during this time of intense competition for talent.
What are Millennial investors’ priorities?
Millennials have confidence in some of the same areas as investors from other generations. But Millennials also have some different priorities and concerns.
Special per-diem rates issued for 2015–2016 travel
The IRS issued per-diem rates for use in substantiating business expenses taxpayers incur while traveling away from home.
Recruiting environment remains a challenge for finance decision-makers
Finding and retaining high-quality workers is a major obstacle at U.S. businesses, according to the AICPA’s quarterly survey of high-ranking finance professionals in business and industry.
Charities would be permitted to issue information returns to donors
Charities will be allowed to file information returns instead of providing contemporaneous written acknowledgment of charitable donations under proposed regulations issued by the IRS.
AICPA expresses concerns about tax return preparer legislation
The proposed grant of authority to the IRS to regulate all aspects of tax practice is overly broad, the AICPA said in a letter to the Senate Finance Committee.
College students think they manage money well, but they don’t, survey finds
Students may be overconfident about their ability to manage money, a new AICPA survey has found.
Proposed rules govern taxation of gifts and bequests from covered expatriates
Proposed regulations under Sec. 2801 would impose a transfer tax on gifts or bequests from covered expatriates made on or after June 17, 2008.
More evidence of accelerating growth in accounting and finance salaries
Accounting and finance salaries in the United States are projected to grow 2.4% in 2016, according to a salary guide published this week, up from the 1.2% increase forecasted for 2015.
Rise in US accounting salaries accelerates
Starting salaries for U.S. accounting professionals are expected to rise between 4.0% and 5.3% in the coming year, according to a new salary guide from staffing services provider Robert Half.
Finance decision-makers less confident in third quarter
Optimism among finance executives is down somewhat, with regulation and talent concerns continuing to top the list of challenges, according to a quarterly AICPA survey.
GASB to take a fundamental look at financial statements
The Governmental Accounting Standards Board will review the foundation of the financial reporting model for state and local governments.
Employer health plans must cover inpatient hospital and physician services
The IRS added a requirement that employer-sponsored health plan benefits must include substantial coverage of inpatient hospital and physician services for the plan to count as providing minimum value.
FASB releases proposed 2016 GAAP taxonomy
The proposed taxonomy contains updates for accounting standards and other recommended improvements to the official taxonomy, which is used by public issuers registered with the SEC.
PCAOB reveals focus for inspections of broker-dealer auditors
The PCAOB inspections staff revealed five areas of focus for its 2015 inspections of auditors and brokers and dealers.
Changes proposed for CPA exam would enhance higher-order skills testing
The AICPA has proposed changes to the Uniform CPA Examination that are designed to enhance testing of higher-order skills.
A principal? Or an agent? FASB proposal aims to clarify
FASB proposed changes to the new revenue recognition standard that are meant to clarify how to determine whether an entity is a principal or an agent in a contract.
Use a layered cybersecurity approach to protect crown jewels
Layers of defense should exist in an organization’s systems, with the most sensitive information protected by the most layers.
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