Tax, accounting, auditing news - Journal of Accountancy

May 10, 2017

FASB issues update on modification accounting for share-based payment awards

FASB hopes to provide clarity by offering guidance on the scope of modification accounting for share-based payment awards.

May 4, 2017

2018 health savings account limits increase slightly

The IRS released the 2018 annual inflation-adjusted amounts that apply to health savings accounts.

May 4, 2017

New IRS rules, no increased funding in appropriations bill

The 2017 appropriations bill passed by Congress includes $11.2 billion for IRS operations and enforcement. But it also includes specific directives prohibiting certain IRS conduct.

May 3, 2017

Details of FAFSA data breach revealed in House testimony

The details of a recent data breach affecting 100,000 taxpayers were revealed in testimony before the House of Representatives Oversight and Government Reform Committee in Washington.

May 2, 2017

Overtime and stress are common during month-end close processes

Finance departments are under pressure to close the books faster, but efficiency is a stumbling block, two recent surveys show.

May 2, 2017

CAQ, investor groups seek to preserve SOX provision

In a letter, the Center for Audit Quality and two investor groups opposed a provision of a bill that would decrease the number of companies required to comply with the rules in Sarbanes-Oxley Act Section 404(b).

May 1, 2017

FinREC seeks comment on telecommunications revenue recognition issue

FinREC has published a working draft for its revenue recognition implementation guide that seeks feedback on an issue for telecommunications entities.

April 28, 2017

AICPA issues TQAs on internal control

The AICPA has issued new TQAs about controls relevant to the audit and control activities relevant to the audit.

April 27, 2017

News quiz: What worries Americans about retirement and spending

Take this short quiz to see how much you know about recent news.

April 27, 2017

Fake financial news threatens Americans’ ability to make sound financial decisions

Experts say individuals should thoroughly investigate financial news and its sources before making investment decisions.

April 26, 2017

Trump’s tax reform priorities unveiled

Key features include a large reduction in the corporate tax rate, fewer and lower tax brackets for individuals, and a repeal of the estate tax and the alternative minimum tax.

April 26, 2017

A new cybersecurity risk management reporting framework for management and CPAs

The framework gives an organization’s management criteria for explaining its cybersecurity risk management program and provides CPAs with guidance to be used in engagements to report on clients’ cybersecurity controls.

April 25, 2017

Rising inflation dampens Americans’ personal financial satisfaction

Though Americans’ personal financial well-being remains high, rising interest rates may be beginning to wear on them.

April 20, 2017

4 career steps CFOs can take to be CEO-worthy

Some of the needed skills must be practiced, and others must be learned on the job.

April 20, 2017

ASB addresses auditor reporting on ERISA plan financial statements

An ASB proposal would change standards for auditors reporting on financial statements of ERISA employee benefit plans.

April 20, 2017

4 in 10 Americans say technology leads them to pay more for convenience

In a recent AICPA survey, 41% of Americans said that their use of personal technology makes them more likely to pay extra for convenience.

April 18, 2017

The 5 habits of top risk managers

Top-performing companies in risk management are more likely to project revenue and profit growth, according to a PwC report that offers steps for organizations to better embed strategy into risk management practices.

April 13, 2017

News quiz: IRS enforcement, a hot job, and audit value

See how much you know about recent news with this short quiz.

April 12, 2017

Expectations and paths don’t always align for controllers

Most controllers expect and are expected to shape and execute strategic priorities. Yet, few companies clearly define a path for controllers to take on greater responsibility, a Deloitte report shows.

April 12, 2017

Nearly half of Americans fear not being able to afford retirement

Respondents to a new AICPA survey most often cited health care costs as a cause of anxiety about their finances in retirement.

FROM THIS MONTH'S ISSUE

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.