Tax, accounting, auditing news - Journal of Accountancy

November 14, 2017

Kroeker reappointed as FASB’s vice chairman

James Kroeker was reappointed as FASB’s vice chairman, the Financial Accounting Foundation Board of Trustees announced.

November 14, 2017

Fraud and fraudsters: A quick guide for CPAs

For all their sophistication, fraudsters have timeless motivations. This article shows how to know the profile and pursue bad actors.

November 10, 2017

PCAOB identifies 3 areas with most frequent 2016 audit issues

Board inspectors found audit deficiencies most often in three recurring areas and suggested steps firms may want to follow to improve performance in the future.

November 10, 2017

House Ways and Means approves amended Tax Cuts and Jobs bill

The committee voted to send an amended version of the Tax Cuts and Jobs tax reform bill to the full House.

November 9, 2017

Senate tax reform bill differs from House version in many ways

Differences include tax rates, treatment of various deductions and a delay in the reduction of the corporate tax rate.

November 9, 2017

CPA firms find that advancement programs boost recruiting, retention

CPA firms are finding that programs promoting mentoring, sponsorship, and gender and minority initiatives help them recruit and retain good people

November 7, 2017

Why the SEC says ‘paid-to-click’ arrangements may be scams

The SEC issued an investor alert warning of the dangers of “paid-to-click” scams perpetrated by fraudsters on the internet.

November 7, 2017

Foreign income provisions in the Tax Cuts and Jobs Act

The draft Tax Cuts and Jobs Act makes many important changes to the tax treatment of U.S. corporations that own foreign corporations.

November 7, 2017

Not-for-profit standard implementation assistance for health care entities

Three issue analyses from the AICPA Health Care Expert Panel could help with implementation of FASB’s new standard.

November 6, 2017

House bill features many business tax changes

The House tax reform bill contains a large number of proposed changes that would affect businesses.

November 3, 2017

Cybersecurity tips from the ‘Shark Tank’

Shark Tank star and cybersecurity expert Robert Herjavec said CPAs have an important role to play as trusted advisers on cybersecurity.

November 3, 2017

What the House tax bill holds for individuals

From new tax rates to fewer deductions, credits, and exclusions, the tax reform bill released by the House would have wide-ranging effects on the taxation of individuals.

November 3, 2017

FASAB addresses intragovernmental exchanges, component reporting

The Federal Accounting Standards Advisory Board addressed accounting for intragovernmental exchange transactions and assigning assets to component reporting entities.

November 3, 2017

Test your knowledge of unconscious bias

Many professionals, without realizing it, make “unconscious” choices regarding those who are different in terms of race, gender, geographic origin, college education, and other factors.

November 2, 2017

Details of tax reform legislation revealed

The Tax Cuts and Jobs Act released by the House Ways and Means Committee incorporates many of the provisions listed in the Republicans’ September tax reform framework while providing new details.

November 1, 2017

E-filing for 2016 individual returns will shut down soon

The news especially affects taxpayers in recent disaster areas who have received extensions until Jan. 31, 2018, to file their 2016 returns.

November 1, 2017

FinREC releases more revenue recognition working drafts

FinREC has been seeking public comment on working drafts that provide industry-specific guidance for entities implementing FASB’s new revenue recognition standard.

November 1, 2017

Companies continue to increase transparency of external audit oversight

Investors and other stakeholders continue to gain access to more information about how audit committees choose and oversee external audit firms.

October 27, 2017

IRS announces delay in re-launching e-Services

The IRS had planned to launch by the end of the month its updated Secure Access site, which will require using a two-factor authentication process.

October 26, 2017

David Kautter to be named acting IRS commissioner

President Donald Trump plans to name David Kautter as acting IRS commissioner when John Koskinen’s term expires in November.

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.