Accounting obstacles that prevented some organizations from using hedging to manage risks may be eliminated by a standard that received preliminary approval from FASB.
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NEWS
IASB interpretation addresses uncertainty in accounting for income taxes
A new interpretation issued by the IASB specifies requirements for how organizations should reflect uncertainty in their accounting for income taxes.
Federal court strikes down PTIN fees, upholds PTINs
The D.C. District Court held that the IRS has the authority to require preparers to use preparer tax identification numbers (PTINs) but that it cannot charge fees for issuing PTINs.
PCAOB expands auditors’ reporting duties
Auditor’s reports will provide more information to financial statement users under new rules.
FinREC issues a dozen revenue recognition working drafts
The AICPA’s FinREC issued 12 working drafts of industry-specific accounting issues.
CPAs are positive but keeping an eye on training, wage pressure
The outlook for U.S. finance decision-makers’ businesses remains positive, according to a quarterly survey, which shows some concern about employee costs and availability of workers.
FASB performs maintenance on Accounting Standards Codification
FASB made the first of several scheduled maintenance updates to its Accounting Standards Codification as part of an effort to simplify the codification’s structure.
Want your voice heard in Washington? Start here
Hundreds of CPAs visited with lawmakers and congressional staff this week to advocate on four key issues for the profession. Here are tips on how to schedule a similar visit or get your voice heard from back home.
Quiz: Learn to choose between ‘who’ and ‘whom’
In everyday speech, we don’t need to sweat the whom. Here is a short quiz that gives you practice in choosing who/whom and whoever/whomever in more complex sentences.
PCAOB to consider adopting new auditor’s reporting standard
The board has proposed requiring auditors to provide information on the most challenging, subjective, or complex aspects of an audit.
President’s budget includes tax proposals and regulation of return preparers
President Donald Trump’s proposed FY 2018 budget includes a new proposal to give the IRS authority to regulate paid tax return preparers.
ASB addresses engagements performed under 2 sets of attestation standards
The AICPA ASB issued an interpretation that describes conditions for practitioners who wish to perform and report on an attestation engagement in accordance with AICPA attestation standards in addition to another set of attestation standards.
Big Four benefit as consulting spending rises in U.S.
Demand for cybersecurity consulting helped drive the growth, accounting for $7.1 billion in revenue.
What you need to know as Gen Z enters the workforce
The first members of Generation Z are graduating from college and entering the workforce. And it would be a big mistake to expect them to behave like Millennials.
What auditors of brokers and dealers need to know about audit planning
Risk assessment procedures, auditor communication requirements, and revenue recognition are among the many complex areas that auditors need to consider carefully in their planning and throughout the audit.
New IASB standard aims for consistent accounting for insurers
A new standard issued by the IASB aims to provide transparent reporting about insurers’ financial position and risk.
FASB issues accounting standards update on service concession arrangements
FASB intends to provide clarity to help financial statement preparers determine the customer of the operation services for transactions.
GASB issues rules for accounting for certain debt extinguishment
New rules issued by GASB address accounting for debt extinguishment prior to its maturity when bond proceeds are not used.
News quiz: Tax-related data breach explained
Taxpayers received more information about a data breach that affected about 100,000 people and shut down a tool used by parents and students applying for financial aid for college.
FASB assessing efficiency, effectiveness of GAAP taxonomy
FASB is considering changing U.S. GAAP financial reporting taxonomy to improve usability.
Features
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Right-sizing risk management
Sole practitioner or small firm? Risk management doesn’t have to be “one size fits all.” Learn how to help protect your practice without adding unnecessary admin time.
From The Tax Adviser
July 31, 2026
Current developments in S corporations
July 31, 2026
