FASB News FASB Votes to Finalize Proposal Simplifying Income Tax Accounting Rules On September 4, FASB voted unanimously to finalize its proposed rules that would…
Estates can be in shambles for years over medical bills, especially when the bills start to surpass an average yearly household income and coverage requires…
CPAJ News Briefs:
FASB, AICPA, GASB
FASB News FASB Hints at Future Hedge Accounting Overhaul A recent FASB discussion about hedge accounting rules has raised speculation that the board might consider…
The Statement of Cash Flows Turns 30
Common Reporting Deficiencies and Recent Changes
This past year marked the 30th anniversary of the statement of cash flows as a required financial statement. FASB's efforts in developing the then-new standard…
CPAJ News Briefs
FASB, AICPA, PCAOB News
FASB News FASB Proposes Historic Change to Effective Dates Philosophy FASB has proposed a change to its philosophy for establishing effective dates for major new…
CPAJ News Briefs
IASB, FASB, AICPA News
IASB News Conference to Focus on Future Accounting Rules This year’s World Standard-setters Conference—the meeting of accounting rulemakers from various nations that use IFRS—will hold…
CPAJ News Briefs
IASB, PCAOB News
IASB News Joint Discussion on Future of Financial Reporting IASB Chairman Hans Hoogervorst and FASB Chairman Russell Golden will participate in a panel discussion, being…
The Once and Future Worker
A Vision for the Renewal of Work in America
The Once and Future Worker by Oren Cass will be of interest to CPAs on at least three important fronts. First, in running CPA firms, a…
CPAJ News Briefs
FASB, AICPA News
FASB News Recognition of Acquired Liabilities in Customer Contracts Moved to Research Agenda On July 31, FASB removed a project from the Emerging Issues Task…
Changing the Conversation
Redefining How Companies Engage Investors on Sustainability
In 2010, when Ceres released The Ceres Roadmap for Sustainability (https://www.ceres.org/roadmap), sustainable business leaders were easily identified and few in number. Now it is commonplace to find…
CPAJ News Briefs
FASB, PCAOB, AICPA News
FASB News Simplifications to Share-based Payments and Debt Accounting Considered Standards setters plan to tweak narrow areas of the stock compensation and debt accounting guidance,…
CPAJ News Briefs
FASB, GASB News
FASB News Proposal to Include Credit Loss Rules in 2020 GAAP Taxonomy Published On July 10, FASB published a proposed update of its 2020 GAAP…
Recently, The CPA Journal interviewed Joseph DioGuardi, the first practicing CPA elected to Congress, representing New York's 20th Congressional district from 1985 to 1989. DioGuardi is currently…
I enjoyed Michael Doron's article in the February CPA Journal (“The PCAOB as Third-party Payer”). The PCAOB as a third-party payer is—as the article correctly puts it—an…
CPAJ News Briefs
FASB, PCAOB News
FASB News Chief Accountants: Proposed Revisions to Income Tax Disclosure Rules Too Costly to Prepare Chief accountants and controllers from some of the nation’s largest…
CPAJ News Briefs
FASB, IASB, GASB News
FASB News Most Private Companies Have Not Adopted New Revenue Rules, Are Unlikely to Adopt Lease Rules on Time A majority of private companies have…
CPAJ News Briefs
FASB, AICPA News
FASB News Bless: Audit Firms Need Guidance from PCAOB About Credit Loss Standard The PCAOB should provide guidance to audit firms about the new credit…
CPAJ News Briefs
FASB, GASB, PCAOB News
FASB News Three New Members Appointed to EITF FASB has added three new members to its Emerging Issues Task Force (EITF). The board said on…
Outsourced finance and accounting is one of the fastest growing areas for CPA firms and one of the leading values firms can offer their clients.…
CPAJ News Briefs
IASB, GASB, AICPA News
IASB News IFRS Taxonomy to become Mandatory, EC Says Companies that use international financial reporting standards to prepare their financial statements need to tag them…
Reviewing Contracts with Customers
How CPAs Can Advise Business Owners
CPAs do not review contracts or practice law, but if they fail to pose common sense legal questions to their business clients, those clients may…
CPAJ News Briefs
FASB, PCAOB, SEC News
FASB News CPAs, Companies Pushing for Accounting and Disclosure Rules for Cryptocurrencies U.S. GAAP does not have specific guidance on how to account for and…
CPAJ News Briefs
FASB, GASB News
FASB News U.S. Chamber of Commerce Asks for Revision of Implementation Process The U.S. Chamber of Commerce has asked FASB to follow a process that…
CPAJ News Briefs
FASB, AICPA News
FASB News Private Companies, Nonprofits to Get Update on Major New Accounting Rules FASB will hold a webcast on June 17 for private companies and…
CPAJ News Briefs
AICPA, GASB, IASB News
AICPA News ASB Publishes New Auditor Reporting Standards On May 8, the AICPA’s Auditing Standards Board (ASB) published a set of standards intended to improve…
CPAJ News Briefs
FASB, IASB News
FASB News FASB Tries to Align with IFRS when Possible, Golden Says According to Chairman Russell Golden, FASB has endeavored—when possible—to align U.S. GAAP with…
CPAJ News Briefs
FASB News
FASB News Financial Accounting Foundation President and CEO Polley Resigns On April 26, Teresa Polley, president and CEO of the Financial Accounting Foundation (FAF), resigned…
Editor's Note: The CPA Journal also interviewed Joseph Dio Guardi about the federal deficit and accountants in public service. An edited print excerpt can be found here…
CPAJ News Briefs
FASB, IASB News
FASB News Noski Reappointed Chairman of Financial Accounting Foundation Former senior banking executive Charles Noski has been reappointed to an additional term as chairman of…
Not-for-profit organizations continue to face an ever-evolving and challenging landscape. Executives and audit committees must deal with concerns ranging from attracting and retaining donors and…