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, IASB, PCAOB News
FASB News Proposal Would Offer Transition Relief for Credit Losses Standard On February 6, FASB issued a proposal intended to offer transition relief to businesses…
Helping Individuals Handle Medical Expenses
Working with a Medical Insurance Advocate
A Medical Insurance Advocate (MIA) helps individuals organize medical bills and negotiate coverage for medical services before and after receiving care. MIAs can save patients…
CPAJ News Briefs
FASB, IASB, AICPA News
FASB News Examination of Complex Liabilities, Equity Accounting to Begin At its February 13 board meeting, FASB plans to take action on a significant project…
CPAJ News Briefs
FASB, AICPA News
FASB News More Work Needed on Income Tax Disclosure Plan FASB expects to issue a brand-new proposal as part of its plan to make companies…
CPAJ News Briefs
FASB, IASB News
FASB News Companies Find Favorable Changes in Hedge Accounting Update FASB’s 2017 simplification of its complex hedge accounting guidance contained some high-profile changes that were…
CPAJ News Briefs
FASB, AICPA News
FASB News Roundtable on Credit Losses Standard Set FASB plans to hold a public roundtable on January 28 for banks, auditors, investors, and regulators 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…
CPAs Acting as Interim CFOs
How to Manage the Risk
Imagine a hypothetical CPA, Franklin Connors, providing bookkeeping and tax services to an equally hypothetical fast-growing online retailer named Cats Eats, which sells gourmet pet…
CPAJ News Briefs
FASB, PCAOB, GASB News
FASB News Examination of Complex Liabilities/Equity Accounting to Begin In early 2019, FASB plans to take its first official steps on a significant project to…
A short time ago, my assistant Alex showed me a check one of my business clients wrote for $1,000. The memo portended a suspicious purpose:…
The Wrong Way to Do the Right Thing
How to Prudently Deal with Employee Disability
Entrepreneurialism is alive and well, with thousands of upstarts becoming startups each year. The pattern is familiar: come up with a marketable idea, develop a…
CPAJ News Briefs
FASB, PCAOB News
FASB News Board Takes its Time on Performance Reporting Project FASB is mulling big changes to the information companies provide in their income statements, but…
CPAJ News Briefs
FASB, IASB, PCAOB News
FASB News Banks to Air Concerns on Credit Losses Standard at January Roundtable In January, FASB plans to hold a roundtable with bankers, auditors, and…
ICYMI | Advancing Diversity within the CPA Profession
An Interview with Alfonzo Alexander
While society has come a long way in its diversity efforts, the fact that many corporations have yet to implement diversity programs shows that the…
CPAJ News Briefs
FASB, AICPA, PCAOB News
FASB News No Standards Setting Action Expected on Cryptocurrencies While digital currencies such as Bitcoin may generate headlines, companies do not use them enough to…
ICYMI | Mergers and Acquisitions of Accounting Firms
When, How, and Why to Merge
It seems that every week, there is news of another merger within the accounting profession. Legally speaking, however, very few combinations of accounting firms are…
CPAJ News Briefs
FASB, PCAOB, IASB News
FASB News Input Sought on Complex Liabilities, Equity Accounting Guidance FASB wants to hear ideas from members of two advisory panels on how to sharpen…
Lies, Damned Lies, and Cost Accounting
How Capacity Management Enables Improved Cost and Cash Flow Management
By Reginald Tomas Lee, Sr. Business Expert Press, 2016, ISBN 978-1631570650, $34.95 (paperback) Reviewed by Ronald J. Baker One of the 20th century's most influential…
CPAJ News Briefs
FASB, PCAOB, IASB News
FASB News Investors Call for More Detailed Note Disclosure on Cash Taxes As FASB prepares to draw up a new slate of income tax disclosures,…
In 2018, public companies are expected to buy back $1 trillion of their stock. Current accounting rules provide no accounting to shareholders for the profit…
CPAJ News Briefs
FASB, IASB News
FASB News IAC to Offer Input on Segments, Disclosures FASB will hear input from its Investor Advisory Committee (IAC) on two early-stage projects that could…
CPAJ News Briefs
FASB/PCAOB News
FASB News No New Guidance Planned for Financial Reporting Effects of Tax Reform Between guidance from the Big Four accounting firms, technical inquiries to FASB’s…
CPAJ News Briefs
FASB/PCAOB News
FASB News Kroeker: Banks Need to Implement Credit Loss Standard on Schedule Despite pleas from banks, trade groups, and some lawmakers for FASB to delay…
In the August 2018 article, “Are Audit Committees Worth the Cost?” (http://bit.ly/2pkOuCA), Arthur Radin suggests that audit committees be eliminated. Unfortunately, the article focuses entirely…
CPAJ News Briefs
FASB/AICPA News
FASB News FASB to Debate Car Lender Concerns on Credit Loss Standard At its November 14 meeting, FASB will consider the concerns that underwriters of…
Sid Kess, James Grimaldi, and James Revels offer some important advice to recent graduates (“Financial Planning for Workers in the Gig Economy,” August 2018, http://bit.ly/2NmdHL3). This…
CPAJ News Briefs
FASB/IASB/PCAOB News
FASB News More Bankers Push Regulators to Delay Credit Losses Standard The American Bankers Association and 50 state bank associations appealed to the Financial Stability…
CPAJ News Briefs
FASB/PCAOB/GASB News
FASB News Banks Pressure Federal Regulators for Changes to Credit Losses Standard On October 17, a trade group representing large U.S. banks requested that financial…
CPAJ News Briefs
FASB/IASB News
FASB News Private Companies Rush to Meet Revenue Recognition Effective Date With the 2019 effective date of FASB’s revenue recognition standard rapidly approaching, private companies…