IRS News IRS Issues Official Guidance on Filing and Payment Deadline Postponements In Notice 2020-18, the IRS has made official the earlier announcement by Treasury…
CPAJ News Briefs
IRS, FASB, IASB News
IRS News IRS Creates Coronavirus Website The IRS has created a new website, http://www.irs.gov/coronavirus, that it says is “focused on steps to help taxpayers, businesses,…
Operating against a backdrop of global volatility and economic uncertainty, with business and regulatory risks becoming more complex and challenging, audit committees will need to…
CPAJ News Briefs
FASB, IASB, GASB News
FASB News Leases Roundtable Could Avert Private Company Adoption Costs FASB plans to hold a roundtable on April 9 to discuss the implementation experiences of…
The Lawyer's duty is first of all to his client, and that duty frequently compels him to avail himself of technicalities and other means of…
The Myth of Auditor Independence
Waking Up to Unconscious Bias
The AICPA Code of Professional Conduct requires that members in public practice be objective, free of conflicts of interest, and independent in fact and appearance…
CPAJ News Briefs
FASB, IASB News
FASB News FAF Appoints New Executive Director John Auchincloss, acting president of the Financial Accounting Foundation (FAF), the parent organization of FASB, has been appointed…
CPAJ News Briefs
PCAOB, FASB, GASB News
PCAOB News SEC, PCAOB Discuss Coronavirus Impact with Big Four Audit Firms During discussions over the past two weeks with Big Four audit firms, SEC…
CPAJ News Briefs
FASB, IASB News
FASB News Golden Outlines Process for Setting Rulemaking Agenda FASB’s process for putting a topic on its standards-setting agenda is one that entails making tough…
CPAJ News Briefs
FASB, GASB News
FASB News FASB Updates Codification to Incorporate SEC Staff Views on Credit Loss Rules, Leases Deferral FASB has issued a new accounting standard that updates…
CPAJ News Briefs
FASB, PCAOB, IASB News
FASB News Firms Ask FASB to Clarify Accounting Rules for Sale and Leaseback Transactions Six accounting firms, including the Big Four, have asked FASB to…
CPAJ News Briefs
FASB, IASB, AICPA News
FASB News FASB to Propose Conceptual Framework Amendments in June The U.S. accounting standards setter plans to issue a proposal early June that revises the…
CPAJ News Briefs
FASB, GASB, IASB News
FASB News New Rules Issued to Clarify Interaction of Equity Investment Accounting Rules FASB has issued narrow provisions to help accountants understand the interaction of…
CPAJ News Briefs
FASB, GASB, IASB News
FASB News Electric Sector Says Lease Accounting Rule Causing Losses to Profitable Contracts The Edison Electric Institute (EEI), a group that represents U.S. investor-owned electric…
CPAJ News Briefs
FASB, PCAOB News
FASB News FASB Issues New Rules to Simplify and Reduce Cost of Accounting for Income Taxes U.S. accounting rulemakers have issued a new accounting standard…
CPAJ News Briefs
PCAOB, IASB, FASB News
PCAOB News Initial Observations of Critical Audit Matters Auditors of large public companies this year have begun including critical audit matters (CAM) in their audit…
CPAJ News Briefs
PCAOB, FASB News
PCAOB News PCAOB to Vote on Concept Release on Quality Control Standards On December 17, the PCAOB will consider publishing a concept release to solicit…
Sales Allocation Methods
Cost of Performance vs. Market-Based Sourcing
Companies that need to allocate their income or loss among the various states they do business in, whether they perform services or sell or license…
CPAJ News Briefs
IASB, FASB News
IASB News Development of International Accounting Rules for Cryptoassets Stifled by Lack of Stability, Readiness IASB has said that because of insufficient use, stability, and…
IASB News Investors Advise Insurers to Quicken Adoption of New Insurance Accounting Rules Insurance companies need to get on with implementing the IASB’s new accounting…
CPAJ News Briefs
FASB, IAASB News
FASB News Golden: Profession’s Leaders Need to Embrace Change, Think Differently Leaders in the accounting profession need to remain proactive in thinking about potential future…
CPAJ News Briefs
FASB, PCAOB News
FASB News Golden Says Next Wave of Questions on Revenue Recognition Is Coming FASB Chairman Russell Golden has said the board is bracing for another…
FASB News FASB Begins Deliberations on Gifts in Kind FASB began discussions on November 6 to develop presentation and disclosure rules for gifts in kind,…
Reflections on the Career of Donald T. Nicolaisen
Speak Softly with Great Impact
In June the profession lost one of its most important figures, Don Nicolaisen. For many of us who knew, respected, and admired Don, it was…
CPAJ News Briefs
AICPA, IASB, FASB, PCAOB News
AICPA News AICPA Updates Interpretive Guidance for PCAOB’s Critical Audit Matters On October 23, the AICPA said it has updated interpretive guidance related to the…
CPAJ News Briefs
FASB News
FASB News Standards Setters Make Tough Decision on Credit Loss Rules FASB voted on October 16 to finalize an August proposal that delays its credit…
CPAJ News Briefs
FASB News
FASB News Joint FASB/GASB Webcast to Explain Nonprofit and Governmental Accounting Rules FASB and the GASB are holding a joint webcast on November 1 providing…
CPAJ News Briefs
GASB, FASB, IASB News
GASB News GASB Proposes Reporting Changes to Ease Effects of Rate Reform State and local governments can comment on a GASB proposal that aims to…
CPAJ News Briefs
FASB News
FASB News FASB Rejects Request to Delay Credit Loss Rules, Votes to Finalize Changes On September 18, FASB unanimously voted against delaying the effective date…
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