FASB superseded guidance for US steamship entities because a 25-year limit has expired, making the guidance irrelevant.
Time is running short in the revenue recognition implementation effort as public companies must adopt FASB’s new standard at the beginning of 2018.
Changes and proposed changes to FASB’s new lease accounting standard that were announced last week addressed financial statement preparers’ most pressing implementation concerns.
Changing business models, cybersecurity, and competition for talent are just a few of the things expected to concern corporate directors in the next year.
More than half of Americans with debt said that owing money has had a negative impact on their lives, according to a recent AICPA survey.
Distributed ledger technology, also known as blockchain, presents a twofold challenge for accountants and auditors.
The PCAOB issued staff guidance that describes important considerations related to the new auditor’s reporting model.
In the early hours of Saturday morning, the U.S. Senate passed its version of the Tax Cuts and Jobs Act bill by a vote of 51–49.
Working drafts for a total of five revenue recognition implementation issues in four industries were exposed by the AICPA Financial Reporting Executive Committee.
FASB decided to simplify implementation of its new lease accounting standard in an effort to reduce costs and decrease challenges for financial statement preparers.
Three proposals issued by the AICPA Auditing Standards Board are designed to enhance the relevance and usefulness of the auditor’s report for audits of nonissuers.
The Social Security Administration said that the maximum amount of wages subject to the 6.2% Social Security tax in 2018 will rise a little more than 1%, after a much larger increase last year.
Here are some things financial statement preparers should keep in mind when implementing FASB’s lease accounting standard
The ASB issued a statement of position providing guidance for attestation engagements related to third-party due-diligence services performed in connection with asset-backed securities.
In an effort to simplify its Accounting Standards Codification, FASB has combined its guidance for income statements and comprehensive income into one topic.
The version of the tax reform bill passed by the Senate Finance Committee holds several more changes affecting both individuals and businesses.
Will blockchain technology have a similar harmful effect on CPAs, or will it merely become a useful tool for accountants?
The U.S. House of Representatives passed its tax reform bill, on a 227–205 vote.
See how much you know about recent news, including tax reform, with this short quiz.
The revised chairman’s mark of the Senate tax reform bill contains many significant changes to the proposed legislation.