By Daniel Drescher. Apress Business, 2017, ISBN 978-1-4842-2604-9. As blockchain and, its derivative, virtual currency become ubiquitous in commerce, business, and Main Street, there have…
FASB News Will FASB Need to Consider AI in Overhaul of Accounting for Software Costs? FASB may need to consider how artificial intelligence (AI) would…
Although stress in public accounting is unavoidable, especially during the busy season, excessive amounts can be dysfunctional for both individual CPAs and their firms. Prolonged…
FASB News Advances Made on Proposal on the Concept of Measurement FASB has made progress on the concept of measurement—a chapter being developed in the…
Accountants can deploy their technical training, skills, and experience in helping powerless persons as a way of giving back to the community. This article describes…
FASB News Staff Propose Updates to U.S. GAAP Taxonomy on Profits Interest Awards FASB staff members are seeking public input on introducing recently proposed guidance…
As CPAs advise their nonprofit clients on strategies for 2023, it is imperative to understand the top technology trends that will affect the sector this…
FASB News Board Follows a Rigorous Process to Develop U.S. Accounting Rules FASB Chair Richard Jones and Technical Director Hillary Salo detailed the board’s due…
Welcome to our latest issue of The CPA Journal! This particular issue touches on matters near and dear to my heart, as we cover topics in the…
FASB News Private Companies Face ‘Lack of Soured Loans’ Data Issues Privately held companies had a “good” problem to solve during this year’s first quarter…
My first job out of college in 1992 was as an auditor for Arthur Andersen & Co. in their Baltimore office. Like so many other…
FASB News EITF to Clarify Reporting Around When Convertible Debt is Issued to Raise Capital FASB has added a project to its special task force…
FASB News Three Proposals Plus Final Concepts Chapter Coming in Second Quarter FASB plans to issue three proposals plus a new conceptual framework chapter on…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
On February 25, 2016, FASB issued Accounting Standards Update (ASU) 2016-02, Leases (ASC Topic 842) to “increase transparency and comparability among organizations by recognizing lease assets…
A recent up-tick in sales of books about agile internal audit tells the story of a new trend in the profession. The books range from…
FASB News Proposal Could Simplify Accounting for Acquired Loans FASB has voted to issue a proposal that will provide a single accounting model for all…
Get Ready for the Future of Auditing
Technology, ESG, and Next-Generation Skills
The increasing use of technology is changing how businesses operate, which methodology and technology auditors use, and what career paths they follow. But the future…
FASB News Newly Issued FASB Accounting Rule Offers Simpler Way to Report Federal and State Tax Credit Investments Accounting guidance that was specifically developed for…
My first job out of college in 1992 was as an auditor for Arthur Andersen & Co. in their Baltimore office. Like so many other…
FASB News 2023 Financial Reporting Taxonomies Finalized The SEC has accepted the 2023 U.S. GAAP Financial Reporting Taxonomy (GRT) and the 2023 SEC Reporting Taxonomy…
Just as the number of young students entering the profession has been shrinking, increasing numbers of older CPAs have been leaving due to forced retirement.…
FASB News Proposal that Will Boost Disclosures around Income Taxes Companies Pay in United States, Overseas FASB has proposed a package of income tax disclosure…
FASB News FASB Chair, Former SEC Chief Accountant Slated for Taxonomy Webcast FASB Chair Richard Jones and former SEC Chief Accountant Wes Bricker will address…
ICYMI | A Renewed Focus on Human Capital
Navigating regulations, leadership, and the workplace of tomorrow
Why has human capital become such a hot topic of conversation? Some will say that this is due to the COVID-19 pandemic. Others will argue…
The Inflation Reduction Act of 2022 (IRA; PL 117-169) was signed into law on August 16, 2022. This massive measure, which is intended to tamp…
FASB News Rulemakers Studying How Investors Use Artificial Intelligence to Consume Financial Data FASB and GASB are actively monitoring the evolution of electronic financial reporting,…
The Inflation Reduction Act of 2022 (IRA; PL 117-169) was signed into law on August 16, 2022. This massive measure, which is intended to tamp…
FASB News Board Votes to Issue Accounting Rule Changes for Leases under Common Control FASB voted by a 4-to-3 margin to issue a narrow standard…
When CPAs look to expand their services to incorporate personal financial planning, they often find a new set of challenges. The following are some of…