Tax, accounting, auditing news - Journal of Accountancy

October 23, 2018

Association addresses digital economy tax issues

The Association of International Certified Professional Accountants released a policy paper urging global solutions to the tax treatment of transactions in the digital economy, emphasizing its own Guiding Principles of Good Tax Policy.

October 22, 2018

4 keys to focusing on customers in a complex world

Developing and delivering on a customer promise can help organizations find a simple road to success in a complex, fast-paced business environment.

October 21, 2018

AICPA Council votes to move forward with expanded eligibility for valuation credential

Members of AICPA’s governing Council voted down a motion on Sunday that would have suspended and opened additional study of expanded eligibility for the Accredited in Business Valuation (ABV) credential.

October 18, 2018

How the suspension of personal exemptions affects health-care-related provisions

IRS guidance clarifies what it means to claim a personal exemption deduction.

October 16, 2018

After investigation, SEC issues cyberfraud alert

The Securities and Exchange Commission cautioned public companies to be on the lookout for a class of cyber-related fraud called “business email compromise.”

October 16, 2018

FASAB proposal seeks clearer materiality guidance

The Federal Accounting Standards Advisory Board (FASAB) is asking for public comment on a proposal to clarify the implementation of materiality concepts in the issuance of federal financial statements.

October 15, 2018

Getting it right: Crafting the CPA Exam

CPA Exam questions must adhere to Blueprint topics and skill levels while avoiding words and ideas that could distract or confuse the reader.

October 12, 2018

Proposed regs. reflect amendments to all-events test and advance payments

The IRS is proposing to remove regulations on advance payments and long-term contracts to reflect amendments to Sec. 451 included in the law known as the Tax Cuts and Jobs Act.

October 8, 2018

International audit standard addresses estimates

A newly released international auditing standard for auditing accounting estimates and related disclosures is designed to help auditors keep pace with changes in accounting standards for loan provisions and insurance contracts.

October 3, 2018

Meals continue to be deductible under new IRS guidance

The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.

September 28, 2018

GASB proposes targeted improvements, new concepts

GASB issued separate proposals that are designed to deliver targeted improvements to the financial reporting model and advance new concepts to guide the board in developing standards on recognition in state and local government financial statements.

September 26, 2018

IRS issues 2018–2019 per-diem rates

The IRS issued its annual update of the special per-diem rates for business travel away from home from Oct. 1, 2018, through Sept. 30, 2019.

September 24, 2018

Rules issued on paid family and medical leave credit

The IRS released guidance on the new Sec. 45S tax credit for employers that provide paid medical and family leave.

September 21, 2018

3 factors driving finance transformation

North American CFOs are dealing with rapid technology changes and the need to retrain workers in the quest to continue finance transformation.

September 20, 2018

SEC proposes clarifying broker-dealer exemption

The Securities and Exchange Commission proposed an amendment that would correct an error published in 2013 in the exemption provisions in the broker-dealer annual reporting rule.

September 20, 2018

News quiz: What’s the latest on accountants’ pay?

See how much you know about the news (or catch up on recent reports) with the quiz.

September 18, 2018

Investors trust auditors, but confidence in U.S. markets drops

Investors continue to show a high degree of confidence that public company auditors are looking out for them, according to a new survey.

September 17, 2018

IRS extends deadlines in N.C. counties affected by Hurricane Florence

The IRS announced that it is extending tax deadlines starting Sept. 7, 2018, until Jan. 31, 2019, for eight counties in North Carolina.

September 14, 2018

How cybercriminals prey on victims of natural disasters

Natural disasters such as Hurricane Florence provide cybercriminals with an opportunity to cause further misery for victims and businesses that already are under siege.

September 14, 2018

IRS issues proposed regs. for GILTI inclusions

The IRS issued proposed regulations implementing Sec. 951A’s global intangible low-taxed income provision, which requires a US shareholder of a controlled foreign corporation to include this income in the shareholder’s gross income.