FASB News Developing More Rules on Government Incentives Raises Tricky Questions Government grants are often “in the eye of the beholder,” and therefore developing recognition…
FASB News Regulatory Framework Will Determine Next Steps on Digital Assets FASB will be able to comprehensively address the reporting of digital assets once there…
FASB News General ESG Matters Won’t be Added to Core Mission At a recent trustee meeting, FASB Chair Richard Jones signaled that the board does…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
FASB News More Amendments to Credit Loss Accounting Rules and Disclosures Proposed FASB has issued a narrow proposal to remove troubled debt restructuring (TDR) accounting…
Book Review | Corporate Law and the Theory of the Firm: Reconstructing Corporations, Shareholders, Directors, Owners, and Investors (The Economics of Legal Relationships)
By Wm. Dennis Huber; Routledge, 2020, ISBN 978-0367895532
In Corporate Law and the Theory of the Firm, author Wm. Dennis Huber, an attorney and CPA with graduate degrees in economics and finance, challenges…
FASB News New Accounting Rules for Disclosing Government Incentives On November 17, FASB issued a new accounting standard to create consistency in the way companies…
Accounting—at least as an independent field of study—is becoming obsolete in today's technology- and analytics-focused world. Its value lies in its interdisciplinary applicability and position…
Although the last year has spurred hardships for those in the accounting profession, the coronavirus (COVID-19) pandemic has presented a promising opportunity for future generations…
Integrating Sustainability into the Accounting Curriculum
Meeting an Emerging Student Demand
Last year marked the 50th anniversary of Milton Friedman's seminal article, “The Social Responsibility of Business Is to Increase Its Profits.” The essay focused primarily…
FASB News FAS Investor Panel to Drill Down on Board Priority Topics FASB will wait until early next year to move on topics investors believe…
The ESG Reporting Journey
Take the first steps … before it’s too late
Environmental, social, and governance (ESG) reporting is no longer considered a soft investment. Market demand and regulatory guidance are coalescing quickly. Consistent and transparent financial…
FASB News Modest Revisions to Interim Disclosure Rules Proposed FASB has proposed modifications to interim disclosure rules aimed at helping companies to provide more meaningful…
Joshua Rosenstock, and Martin M. Shenkman, JD, CPA, PFS, AEP The accounting profession must be understanding and sensitive to the changing landscape of diversity, equity,…
FASB News Private Company Accounting Option for Measuring Certain Types of Share Awards Issued On October 25, 2021, FASB issued a simpler accounting option that…
FASB News Independent Joint Ventures Getting Specific Disclosure Rules FASB continued to hammer out a proposal for joint venture formations, voting on the disclosures that…
FASB News Same Expense Disclosures to Be Required for Single and Multiple Segment Companies FASB continues to build a proposal for segment disclosures, as the…
FASB News Advisers Call for More Specificity in Investor Outreach FASB’s main advisers said the board should be more specific in its investor outreach, citing…
FASB News Federal Reserve Pushes for FASB Rules on Digital Assets The Board of Governors of the Federal Reserve System added its voice to that…
ICYMI | Remote Work Arrangements
Payroll and Income Tax Issues for Employers and Employees
There has always been a small remote workforce, but for the past year the coronavirus (COVID-19) pandemic and the government-ordered shutdowns that followed made remote…
FASB News Second FASB Forum for CPE Providers Announced FASB will host its second online training forum next month for professionals and companies who offer…
FASB News FASB Discussions with Nonprofits Include Revenue, Contributions FASB met on September 14 with its Not-for-Profit Advisory Committee (NAC) to focus on issues that…
FASB News Feedback on Agenda Consultation Document Expected Late this Year FASB will discuss public feedback received from its agenda consultation document later this year…
ICYMI | Pandemic Perceptions
Accounting Firms’ Organizational Support during COVID-19
The onset of the coronavirus (COVID-19) pandemic forced many CPA firms to mandate work-from-home arrangements for their employees. How has this sudden shift in the…
FASB News Efforts to Modernize Technology Systems to be Completed Next Year The Financial Accounting Foundation’s (FAF) project to replace the obsolete technology used 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…
Professor Ed Ketz of Penn State rightly calls out the large accounting firms, in “The Myth of Independence” (March 2020). He joins a wave of…
FASB News Subtle Rebuke over Investor Outreach Efforts FASB published a detailed report of its outreach with investors, which showcased how it regularly engages with…
Remote Work Arrangements
Payroll and Income Tax Issues for Employers and Employees
There has always been a small remote workforce, but for the past year the coronavirus (COVID-19) pandemic and the government-ordered shutdowns that followed made remote…
FASB News Concerns Resurface over Corporate Stock Buybacks FASB should appoint a study group to determine the proper accounting and reporting of the financial results…