April 2018

April 26, 2018

IRS gives taxpayers relief from erroneous HSA contributions

The IRS announced it will allow taxpayers to treat $6,900 as the 2018 limit for deductible contributions to HSAs for individuals with family coverage.

April 26, 2018

FASB proposes targeted changes to collaborative arrangements standard

FASB wants to clarify the interaction between GAAP for collaborative arrangements and the board’s new revenue recognition standard.

April 26, 2018

Americans’ financial satisfaction hits high mark

Despite recent stock market volatility, the AICPA’s Personal Financial Satisfaction Index (PFSi) reached a record high in the first quarter of 2018.

April 24, 2018

How to maintain independence in audits of insured depository institutions

Auditors of insured depository institutions need to educate themselves and their staffs about independence rules that apply to these engagements.

April 20, 2018

Automation in finance: Get your team ready

Thanks to numerous technological advances, many routine accounting and finance tasks are likely to be automated in the near future.

April 19, 2018

The ideal time to review your finances

Having too large a tax refund, or having to pay too much in taxes, can be a sign that your financial plan needs revising.

April 18, 2018

Supreme Court hears oral arguments in sales tax nexus case

The Supreme Court heard oral arguments in a case with broad remote sales tax collection ramifications.

April 17, 2018

IRS computer crash prompts deadline extension

After the IRS’s Modernized e-File and Direct Pay systems were not in operation for most of the day on Tuesday, the IRS extended the filing and payment deadline for 2017 individual tax returns until midnight on Wednesday, April 18.

April 17, 2018

Report finds big fraud problems for small businesses

Occupational fraud continues to siphon staggering amounts of money from businesses worldwide, with smaller organizations being hit particularly hard.

April 12, 2018

Treasury regulations to be subject to OMB review

The Treasury Department and the White House’s Office of Management and Budget have agreed to change the procedures under which Treasury regulations are reviewed.

April 12, 2018

How board members can perform oversight of cybersecurity risks

A new tool can help board members understand what questions to ask in their oversight of cybersecurity risk management.

April 11, 2018

Save money by having your sustainability report assured

Sustainability reporting has become a common business practice in the United States, and now research shows that sustainability assurance efforts more than pay for themselves in a majority of companies.

April 11, 2018

How to mix innovation and risk management

Companies that integrate innovation and risk are more advanced in disruptive technologies and more confident in revenue projections, a survey says.

April 10, 2018

New international code clarifies ethics issues

The International Ethics Standards Board for Accountants released a new Code of Ethics that is designed to provide clear guidance about how accountants should deal with ethics and independence issues.

April 4, 2018

How audit committees can evaluate lease accounting implementation

A new Center for Audit Quality tool is designed to help audit committees with oversight of this difficult adoption process.

April 3, 2018

IRS guidance addresses limitations on business interest expense

The IRS has issued initial guidance on the new rules governing the deductibility of business interest in Sec. 163(j), as amended by the Tax Cuts and Jobs Act of 2017.

April 3, 2018

How consumers are changing their behavior to combat ID theft

Four of out five respondents say they’ve changed their behavior in response to the threat of cyberbreaches affecting credit card and debit card processing systems.

April 2, 2018

New GASB standard addresses debt disclosures

The new standard also requires the disclosure of additional essential debt-related information for all types of debt, including amounts of unused lines of credit and assets pledged as collateral for debt.