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Accounting & reporting

GASB addresses accounting changes and error corrections

Accounting and financial reporting requirements that have been followed since the 1970s would change under guidance for accounting changes and error corrections proposed by the Governmental Accounting Standards Board.

Auditors may see increased demand for ESG attestation

Regulators and standard setters are promulgating new requirements for environmental, social and governance information, and that may lead many companies to call upon external auditors to examine their ESG disclosures.

Tips for lease accounting amid financial uncertainty

Many private companies and not-for-profits are adopting new lease accounting standards, and public companies that have adopted the guidance are applying it amid a pandemic-fueled surge in lease renegotiations.

FASB proposes hedge accounting changes

FASB issued a proposal that would expand the current single-layer hedging model and is intended to better align hedge accounting with an organization’s risk management strategy.

Tips for for-profits applying NFP accounting rules for PPP funds

For-profit entities are permitted to use the not-for-profit conditional contribution accounting model to account for Paycheck Protection Program loans. The accounting requires reasoned judgment, careful evaluation of barriers and thorough documentation.

Offensive acronym leads to GASB’s name change proposal

The acronym for the Governmental Accounting Standards Board’s “comprehensive annual financial report” sounds like a South African ethnic slur. So, the board is proposing a name change to “annual comprehensive financial report.”

Vacation and sick day accruals during the pandemic

Travel restrictions related to the coronavirus pandemic have caused many employees to defer their paid time off, resulting in a buildup of liabilities for compensated absences. As a result, CPAs need to take great care in calculating, reporting, and auditing these liabilities.

GASB proposes new guidance on compensated absences

Employees’ vacation time and other forms of paid leave would be accounted for differently by state and local governments under a proposal issued by the Governmental Accounting Standards Board.

Assessing goodwill impairment amid COVID-19

Goodwill impairment has become an area of increased focus since the beginning of the coronavirus pandemic. Here’s what CPAs need to know about goodwill impairment at this challenging time.

SEC places new focus on climate-related disclosures

The SEC’s Division of Corporation Finance will place greater focus on climate-related disclosures in public company filings after a directive issued by SEC Acting Chair Allison Herren Lee.

A road map for ESG disclosures and assurance

As interest grows in environmental, social and governance information, a new resource provides insights for auditors to assist their clients with ESG disclosures and assurance.

SPONSORED REPORT

Preparing clients for new provisions next tax season

Preparing clients for new provisions next tax season

As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.

From The Tax Adviser

October 31, 2025

Recent developments in estate planning

October 31, 2025

Current developments in taxation of individuals: Part 2

September 30, 2025

Current developments in taxation of individuals: Part 1

August 30, 2025

2025 tax software survey