September 2023

September 12, 2023

Optimism on the rise among large-company CFOs, according to survey

Fifty-seven percent of North American CFOs rate current economic conditions as good or very good — up from 34% last quarter — according to a third-quarter survey by Deloitte.

September 11, 2023

Long-awaited guidance provided for amortization of R&E expenditures

The IRS says taxpayers and tax professionals can rely on interim guidance under Sec. 174 for the amortization of research and experimental expenditures released on Friday in Notice 2023-63 until it issues proposed regulations based on the guidance, effective for tax years beginning in 2022.

September 11, 2023

How to close the talent gap without hiring

An expert in workplace dynamics shares simple strategies that can significantly increase the productivity of current employees while changing company culture for the better.

September 8, 2023

IRS vows new enforcement efforts aided by AI

Commissioner Danny Werfel describes an IRS that focuses on the wealthy and uses artificial intelligence to find discrepancies in large partnership filings.

September 7, 2023

FASB approves cryptoassets standard

The board voted to issue a standard that defines the financial reporting requirements for certain crypto holdings and how the value of those assets should be measured.

September 7, 2023

FASAB seeks comment on guidance for management discussion and analysis

The Federal Accounting Standards Advisory Board is seeking feedback on an exposure draft aimed at updating the guidance for management discussion and analysis (MD&A).

September 5, 2023

ESOP exploration: Can the ‘new’ ownership model age well?

As one of the nation’s largest CPA firms announces the formation of an employee stock ownership plan, the managing partner at a midsize firm entering its third decade as an ESOP shares some perspective.

September 1, 2023

FASB issues new chapter of its Conceptual Framework

FASB issued a new chapter of its Conceptual Framework related to the recognition and derecognition of criteria and guidance on when an item should be incorporated into and removed from financial statements.

September 1, 2023

AICPA seeks comments on proposed changes to QM standards

The exposure draft of the Statement on Standards for Attestation Engagements aims to align quality management standards with standards for audits, reviews, and compilations.

FROM THIS MONTH'S ISSUE

AI risks CPAs should know

Are you ready for the AI revolution in accounting? This JofA Technology Q&A article explores the top risks CPAs face—from hallucinations to deepfakes—and ways to mitigate them.