FASB News Effective Date for Insurance Accounting Amendments still 2021 Despite the complaints of U.S. insurance companies that they will not be ready to meet…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
CPAJ News Briefs
FASB/AICPA News
FASB News Banks Seek Extended Phase-In Period for Credit Loss Standard Banks want federal banking regulators to make it easier to adopt FASB’s proposed credit…
CPAJ News Briefs
FASB/AICPA News
FASB News EITF Effort to Clarify Business Combinations Guidance Delayed FASB’s Emerging Issues Task Force (EITF) recently determined that it needs to further revise a…
The Profession’s Role in Sustainability Advocacy
Challenging CFOs to Join the Movement
For the past 15 years of my 40-year career in the hospitality sector, I have been advocating for hotel companies, and the tourism industry at…
CPAJ News Briefs
FASB/IASB News
FASB News Minor Technical Corrections Published for Lease Standard FASB has published an update to U.S. GAAP with 16 technical corrections for its much-watched lease…
State and Local Tax Roundup
Current Developments in New Jersey and Connecticut
CPAs need to be aware of current tax developments in key states to properly advise clients that are doing business in multiple jurisdictions. Below is…
CPAJ News Briefs
FASB/GASB/SEC News
FASB News Effort to Refine U.S. GAAP’s Definition of a ‘Liability’ Continues. FASB’s latest effort to update its Conceptual Framework is focusing on the building…
The article “The Potential Impact of Lease Accounting on Equity Valuation” (Matthew A. Stallings, November 2017, http://bit.ly/2ktNGIR) provides an example of the effect of the leasing…
CPAJ News Briefs
FASB/IASB News
FASB News Quarterly Disclosure Project to Resume After a more than three-year hiatus, FASB resolved at its July 11 meeting to resume its project to…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
CPAJ News Briefs
FASB News
FASB News Effort to Refine U.S. GAAP Definition of a Liability Continues FASB’s latest effort to update its Conceptual Framework is focusing on financial statement…
ICYMI | Managing Risk at the Speed of Change
A New Risk Vocabulary and a Call to the Profession
Electronic commerce has changed the pace of business activity. One McKinsey estimate speculates that the current rate of change is 10 times that of the…
CPAJ News Briefs
FASB/IASB News
FASB News FASB Clarifies Accounting Guidance for Contributions FASB has updated U.S. GAAP to determine when a contribution to a not-for-profit organization should be accounted…
CPAJ News Briefs
FASB/IASB/PCAOB
FASB News Proposed Amendments for Collaborative Arrangements Leave Many Questions Unanswered Some financial reporting professionals doubt that a recent FASB proposal will solve the accounting…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
There was much speculation surrounding the fate of the federal estate tax leading up to the ultimate passage of the Tax Cuts and Job Act…
I have been following the virtual currency (VC) debate and marketplace for some years now, and would like to share my observations as a person…
CPAJ News Briefs
FASB/PCAOB News
FASB News Disclosure Framework Slated for September Publication FASB’s planned concepts statement aimed at improving how the board writes disclosure requirements for U.S. GAAP is…
CPAJ News Briefs
FASB/AICPA/IASB News
FASB News AICPA and CUNA Seek Extension of Credit Loss Standard’s Effective Date Some smaller financial institutions and private companies are worried that the transition…
CPAJ News Briefs
FASB/PCAOB News
FASB News FASB, IASB to Share Information on Performance Reporting Projects On June 18, FASB will meet with the IASB at its London office for…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
First Look at the Tax Cuts and Jobs Act
Impact on Estate Planning
The Tax Cuts and Jobs Act (TCJA) has doubled the amount that can be exempted from federal estate tax to $11.18 million per individual, effective…
CPAJ News Briefs
FASB/IASB News
FASB News Details of New Lease Guidance Complicate Implementation Efforts At first blush, FASB’s new lease accounting standard sounds simple enough: companies must tally everything…
First Look at the Tax Cuts and Jobs Act
Impact of the New 20% Pass-Through Deduction—Traps and Planning Opportunities
The new IRC section 199A, with its complex terms and limits, will be part of almost every tax preparer's life until at least 2026. The…
Defined benefit pension plans offer politicians a convenient way to satisfy public employee demands while providing the means to defer budgeted cash payments and hide…
CPAJ News Briefs
FASB/IASB News
FASB News Small Companies Face Difficult Implementation Process for Revenue Standard Representatives from small public companies and their auditors told FASB on May 10 that…
First Look at the Tax Cuts and Jobs Act
Impact of ‘GILTI’ on International Taxpayers
One of the central features of the Tax Cuts and Jobs Act of 2017 (TCJA) is its reformation of the U.S. system for taxation of…
Governmental accounting has a long history of development. Although the designation of specialized standards-setting bodies has been relatively recent, with the Governmental Accounting Standards Board…
Top Challenges Facing Not-For-Profit CFOs Today
Revisiting the Toughest Challenges
In April 2017, the authors wrote “Top Challenges Facing Not-For-Profit CFOs Today.” The intent of the article was to affirm how complex and diverse the…