Tax, accounting, auditing news - Journal of Accountancy

January 25, 2018

FASB clarifies lease standard’s application to land easements

The change is expected to make adopting the leases standard easier for some land easements.

January 25, 2018

Americans’ financial well-being continues upward trend

Americans’ personal financial satisfaction increased steadily throughout 2017, reaching a 24-year peak in the fourth quarter of 2017, according to the AICPA’s Personal Financial Satisfaction Index.

January 23, 2018

Government funding bill postpones some health care taxes

The continuing resolution to fund the government through Feb. 8 also delays the so-called Cadillac tax on high-cost health plans for an additional two years beyond 2019.

January 23, 2018

More women with CFO titles, but still far behind men

Finance leaders share ways companies can identify a more diverse pool of leadership candidates.

January 22, 2018

FASB Q&As discuss financial reporting implications of tax law

FASB issued four staff Q&As that address financial reporting issues related to the Tax Cuts and Jobs Act.

January 20, 2018

What to expect from the IRS during the government shutdown

The shutdown of the federal government comes just nine days before the scheduled start of tax season. Here’s a look at how the IRS may be affected.

January 18, 2018

FASB proposes corporate reporting change related to new tax law

FASB proposed a new standard that is intended to help organizations reclassify certain income effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act.

January 18, 2018

20 cities in the running for Amazon HQ

The online behemoth plans to hire up to 50,000 workers in a second North American headquarters. Did your city make the list?

January 16, 2018

Lenders express confidence in FRF for SMEs

Financial statements prepared in accordance with an AICPA financial reporting framework give lenders nearly as much confidence to loan capital as GAAP-based financial statements for small and medium-size businesses with low credit risk, a published study shows.

January 16, 2018

How to develop a global mindset

As more organizations operate globally and include more people from diverse backgrounds, it’s more important than ever to be culturally savvy and sensitive.

January 11, 2018

New tax withholding tables are issued

The IRS issued new tax withholding tables for 2018 to be used to implement the changes to the tax law enacted last month.

January 11, 2018

FASB Q&A supports use of SAB 118 by private companies, not-for-profits

Private companies and not-for-profits that elect to apply the guidance in a new SEC staff accounting bulletin should apply all relevant aspects of the bulletin in its entirety, FASB’s staff said.

January 10, 2018

FASB addresses financial reporting impacts of new tax law

FASB addressed numerous financial reporting implications of P.L. 115-97, known as the Tax Cuts and Jobs Act.

January 9, 2018

IRS asking for taxpayer representatives’ personal information

The IRS is now asking taxpayer representatives who call the agency to provide their Social Security number and date of birth to confirm their identity.

January 5, 2018

FASB proposes lease standard implementation improvements

A proposed FASB Accounting Standards Update seeks to ease the implementation of the new leases accounting standard.

January 4, 2018

IRS announces when filing season will start

The IRS announced that this year’s filing season will begin about a week later than last year’s filing season.

January 4, 2018

Form 1023-EZ will ask applicants for mission and activities

The streamlined application for tax-exempt status will ask organizations to describe their mission and activities for the first time.

January 4, 2018

New, user-friendly software coming to the CPA Exam

A new software platform developed by the AICPA and available to CPA candidates at Prometric test centers was designed to make the CPA Exam easier for candidates to navigate.

January 3, 2018

How to handle GASB implementation challenges

State and local government finance staffs have had to implement several new, significant GASB statements. Here are tips for handling the challenges.

January 2, 2018

Final rules govern election out of centralized partnership audits

The IRS finalized the rules for determining whether partnerships are eligible to elect out of the centralized audit procedures enacted in 2015, which apply to partnerships this year.

FROM THIS MONTH'S ISSUE

4 ways solo practitioners can stand out

Five years ago, a grieving Angel Zhen started his own CPA firm with no clients and no revenue. Today, he has 300 clients, $600,000 in revenue and 12 weeks of annual vacation. In this JofA article, he shares how he set up his firm and how you could do the same.