December 2024

December 6, 2024

Court halts BOI reporting; AICPA urges preparedness

Finding the Corporate Transparency Act “likely unconstitutional,” a federal district court prohibited its enforcement and the enforcement of its accompanying regulations.

December 5, 2024

CPA executives upbeat about domestic economy in 2025, survey says

Optimism about the U.S. economy rebounded significantly among finance decision-makers, according to a new AICPA & CIMA survey. Revenue and profit forecasts are up, along with expansion and hiring plans.

December 4, 2024

More return-to-office mandates? Report looks beyond the headlines

While some large companies have recently made news by making their employees return to the office, another trend is making bigger gains across the employment landscape.

December 3, 2024

BOI: Businesses cite procrastination, lack of clarity for not filing

Nearly three in eight businesses in a poll said they were waiting until the end of the year to file beneficial ownership information reports.

December 3, 2024

FASB proposes guidance on measurement of credit losses

An Accounting Standards Update focuses on the measurement of credit losses for accounts receivable and contract assets for private companies and certain not-for-profit entities.

December 2, 2024

Regs. address partnership recourse liabilities, related-party rules

The IRS issued regulations that finalize proposed regulations issued in 2013. The guidance is focused on when and to what extent a partner is treated as bearing the economic risk of loss and the special rules applying to a partner related to another partner.

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.