2018 - Page 8 of 14 - Journal of Accountancy

June 27, 2018

Form 1040 to be shorter but with more schedules

The IRS is working on a draft version of the 2018 Form 1040, U.S. Individual Income Tax Return, that reduces the size of the form to two half-pages in length and eliminates more than 50 lines.

June 26, 2018

FASB proposes update to definition of ‘collections’

The proposal would realign the definitions of “collections” used in GAAP and the American Alliance of Museums’ Code of Ethics for Museums.

June 25, 2018

Strategies for quality work in single audits

Careful testing and thorough documentation are among the keys for quality single audit performance described by Laurie De Armond, CPA, in her summary of observations from the AICPA Not-for-Profit Industry Conference.

June 22, 2018

Proposal would clarify exception to client confidentiality rule

Under a proposal issued by the AICPA Professional Ethics Executive Committee, certain reviews of a tax practice would be explicitly included in exceptions to AICPA Professional Standards client information disclosure rules.

June 22, 2018

A new playing field for business

The Supreme Court’s decision on sales tax collection could give smaller companies that rely on in-store sales a better chance to compete with virtual retailers.

June 22, 2018

GASB addresses interest cost incurred before a construction period ends

State and local governments will provide new information to financial statement users under a standard GASB issued that establishes accounting rules for accounting for interest cost incurred before the end of a construction period.

June 21, 2018

FASB clarifies accounting for grants and contributions

The ASU seeks to simplify accounting for grants and similar contracts awarded by governments to not-for-profits.

June 21, 2018

Supreme Court overturns Quill’s physical presence requirement

The U.S. Supreme Court on Thursday held that states can assert nexus for sales and use tax purposes without requiring a seller’s physical presence in the state.

June 20, 2018

FASB simplifies accounting for share-based payments to nonemployees

FASB released an Accounting Standards Update (ASU) designed to improve the financial reporting for share-based payments issued to nonemployees for goods or services.

June 19, 2018

SEC unveils goals for next 4 years

The three goals’ aim is to help the commission improve its ability to react to and employ new technologies.

June 19, 2018

How to improve workflow to achieve operational excellence

Process improvements in three key areas can improve workflow and provide finance with more time for analysis and advisory duties.

June 19, 2018

AICPA report: Seniors increasingly targeted for investment fraud

Scams aiming to reach retirement accounts are becoming progressively more sophisticated.

June 18, 2018

Tony Hawk: Accountants help make dreams become reality

Skateboarding legend Tony Hawk credited his accountants with making his ventures successful and shared lessons he learned from being an entrepreneur.

June 18, 2018

Disguised-sale partnership regs. withdrawn

The IRS announced that it was withdrawing temporary regulations on the treatment of partnership liabilities for disguised-sale purposes and proposing to reinstate the old rules.

June 15, 2018

AICPA advocates for IRS tax guidance priorities

The AICPA sent a letter to the IRS with recommendations for items of tax guidance that should be priorities for the Service to issue from July 1, 2018, to June 30, 2019.

June 14, 2018

Getting along with different personalities at work

Learn about each group’s preferences for collaboration, communication, and idea generation to improve relationships with your co-workers.

June 14, 2018

Why and how to create great content at work

Creating content can be a great way to make a name for yourself on the job. CPA and blogger Chris Wittich shares his best advice for getting started.

June 14, 2018

6 steps to accounting automation success

For firms embracing the automation age, artificial intelligence requires smart thinking and human wisdom, Boomer Consulting’s Arianna Campbell and Marc Staut explained at the AICPA ENGAGE 2018 conference.

June 14, 2018

Make attest engagements more profitable

Better planning and more efficient processes and procedures can help accountants, auditors and firms gain more profit from their attest engagements, consultant Alan W. Anderson, CPA, said at the AICPA ENGAGE 2018 conference.

June 13, 2018

What clients need to know about Social Security

Ted Sarenski, CPA/PFS, discusses 2018 changes to Social Security and much more, including claiming strategies, spousal benefits, and what might happen to the program in the future.