This quiz will give you practice in understanding and using some words or phrases that cause speakers and writers to stumble.
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NEWS
Regulations address new statutory due dates for many tax returns
Changes to the due dates and extensions of time to file various tax returns and information returns were implemented in a package of regulations the IRS issued on Wednesday.
Revised Senate health bill would retain taxes on higher-income individuals
The health care bill released by Senate Republicans on Thursday would retain the Affordable Care Act’s 3.8% net investment tax and the 0.9% Medicare surtax.
FASB simplifies accounting for certain financial instruments
FASB issued a new accounting standard simplifying the accounting for certain financial instruments with down round features.
GASB proposes changes to debt disclosures
The information about debt disclosed by state and local governments would change if a new GASB proposal is approved.
Treasury identifies 8 regulations as burdensome
After reviewing all 105 Treasury regulations issued in 2016 and early 2017, the Treasury Department has identified eight that cost too much, are too complex or exceed the IRS’s statutory authority.
AICPA seeks input for new framework on valuation of financial instruments
New guidance aims for clarity, consistency and transparency and will also lay the foundation for a new AICPA credential, Certified in Valuation of Financial Instruments (CVFI).
News quiz: Senate health care bill in the spotlight
See how much you know about the news with this short quiz.
FinREC unveils 4 more revenue recognition working drafts
FinREC is requesting feedback on four working drafts that provide industry-specific guidance for entities implementing FASB Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers (Topic 606).
GASB establishes new approach for reporting leases
GASB issued a statement that is designed to help align the accounting and financial reporting of lease transactions more closely with their economic substance.
Strategies for helping volunteers boost a not-for-profit
Understanding what motivates volunteers is the first step toward helping them have a great experience assisting a not-for-profit.
Boston Bruins can deduct full cost of meals for team’s away games
The Tax Court held that the owners of the Boston Bruins could deduct the full cost of their team’s pregame meals for away games as a de minimis fringe benefit.
FASB proposes superseding guidance for S&L bad debt reserves, steamship entities
Technical corrections proposed by FASB would affect accounting guidance for certain bad debt reserves of savings and loans, and steamship entities.
NFP audit committees: Getting oversight right
Whether it means taking external auditors into executive session or getting candid opinions on staff, audit committee members need to provide strong oversight to help the organization thrive and survive.
The case for updating your policies and procedures manual
It’s important to stay up to date with a document that can enable effectiveness and efficiency.
FASB issues proposal for consolidation of VIEs
A proposed ASU would give private companies an alternative for financial reporting associated with consolidation of variable-interest entities.
Tax provisions in the Senate health care bill
The Senate Republicans’ bill to replace Obamacare would repeal many of the Affordable Care Act’s tax provisions. Here’s a look at the tax changes in the bill.
What FASB has in store for not-for-profits
The pace of standard setting may slow in the coming months, but one key new project is on the horizon.
Quiz: Test yourself on these often confused words
The spelling checker on your word processing program can do only so much to flag problems. Your best insurance is to learn the troublesome words that trip up writers and use them correctly by the standards of formal, written English.
IRS reopens PTIN registration system
The system had been down since early June, after a federal court held that the IRS cannot charge a PTIN fee.
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