June 2017

June 28, 2017

GASB establishes new approach for reporting leases

GASB issued a statement that is designed to help align the accounting and financial reporting of lease transactions more closely with their economic substance.

June 28, 2017

Strategies for helping volunteers boost a not-for-profit

Understanding what motivates volunteers is the first step toward helping them have a great experience assisting a not-for-profit.

June 27, 2017

Boston Bruins can deduct full cost of meals for team’s away games

The Tax Court held that the owners of the Boston Bruins could deduct the full cost of their team’s pregame meals for away games as a de minimis fringe benefit.

June 27, 2017

FASB proposes superseding guidance for S&L bad debt reserves, steamship entities

Technical corrections proposed by FASB would affect accounting guidance for certain bad debt reserves of savings and loans, and steamship entities.

June 23, 2017

NFP audit committees: Getting oversight right

Whether it means taking external auditors into executive session or getting candid opinions on staff, audit committee members need to provide strong oversight to help the organization thrive and survive.

June 23, 2017

The case for updating your policies and procedures manual

It’s important to stay up to date with a document that can enable effectiveness and efficiency.

June 22, 2017

FASB issues proposal for consolidation of VIEs

A proposed ASU would give private companies an alternative for financial reporting associated with consolidation of variable-interest entities.

June 22, 2017

Tax provisions in the Senate health care bill

The Senate Republicans’ bill to replace Obamacare would repeal many of the Affordable Care Act’s tax provisions. Here’s a look at the tax changes in the bill.

June 22, 2017

What FASB has in store for not-for-profits

The pace of standard setting may slow in the coming months, but one key new project is on the horizon.

June 22, 2017

Quiz: Test yourself on these often confused words

The spelling checker on your word processing program can do only so much to flag problems. Your best insurance is to learn the troublesome words that trip up writers and use them correctly by the standards of formal, written English.

June 21, 2017

IRS reopens PTIN registration system

The system had been down since early June, after a federal court held that the IRS cannot charge a PTIN fee.

June 20, 2017

What audit committees need to know about PCAOB’s Form AP

Audit committees have new information to consider as a result of a new PCAOB rule requiring the naming of the engagement partner and other firms participating in the audit.

June 19, 2017

How the CPA Exam is scored

CPAs take immense pride in what they accomplished when they passed the CPA Exam, but the grading of the exam is a mystery to some. A new report provides some clarity on how the exam is scored.

June 15, 2017

How audit methodologies will change in the future

Embracing technology and making changes in your firm now will help your firm succeed in the future as new technologies enable auditors to provide more value to clients.

June 14, 2017

CPA firms: Create a niche practice serving the emerging gig economy

As entrepreneurial workers increasingly embrace the autonomy and flexibility of performing as independent contractors, they need CPA firms to help them with taxes, accounting services and other business needs.

June 14, 2017

Technology trends for accounting firm leaders

Rapid advances in technology are causing headaches and creating opportunities for accounting firms.

June 14, 2017

Create a workplace where employees want to stay

In a competitive environment, managers can do these five things to motivate and retain their best workers.

June 14, 2017

Good clients, bad clients: How to manage them all

Success starts with honing in on a firm’s “sweet spot” in terms of services provided, and identifying the firm’s best (and worst) clients.

June 14, 2017

Preserve family wealth—and your practice—by engaging the next generation

As wealthy Baby Boomers transfer their assets to Millennials, CPAs can help families preserve their assets and build loyalty to the firm by developing relationships with the younger heirs.

June 14, 2017

Staffing concerns again top list of CPA firm issues

Finding and retaining qualified staff again rank at or near the top of the priority list for firms with more than one professional.

FROM THIS MONTH'S ISSUE

Tax season quick guide

Get ready for tax season with the JofA’s annual filing season quick guide, an easy-to-use compilation of dollar thresholds, tax tables, standard amounts, credits, and deductions. Download and print for quick reference this tax season.