Financial Reporting

August 26, 2015 

More than half (55 percent) of CFOs say uncertainty in the U.S. economy is a major concern that could impact their businesses’ growth in the next 12 months. This is despite the fact that most CFOs expect the U.S. economy overall to remain the ...

July 27, 2015 

The 2015 edition of the AICPA Audit Guide, Government Auditing Standards and Single Audits, is an indispensable resource for auditors performing single audits of federal expenditures, as well as audits performed in accordance with Government Auditing ...

July 22, 2015 

Safeguarding one’s finances in case of a catastrophic event is an often overlooked aspect of disaster preparedness. To help people mitigate potential damages and lessen the financial blow of a disaster, The American Institute of CPAs (AICPA), American ...

Isaac M. O'Bannon

July 22, 2015 

The Internal Revenue Service (IRS) is currently planning activities to address a recurring financial material weakness in its internal control over unpaid tax assessments.  However, planning for the Customer Account Data Engine 2 (CADE 2) Transition State 2 (TS2) has not included specific actions and activities necessary to guide new system development efforts and to...…

Isaac M. O'Bannon

June 30, 2015 

Example disclosure topics include food safety, labeling & marketing integrity, climate change adaptation, and supply chain management. The standards average six topics per industry, and 71 percent of metrics are quantitative.

June 26, 2015 

The new guide, available as an eBook and in print format, was written to assist CPAs in interpreting and applying SSARS No. 21, as well as to provide interpretative guidance and implementation strategies for all preparation, compilation and ...

June 24, 2015 

The majority of CFOs plan to take on more strategic leadership roles (69 percent) and cite a culture of analytics as a key competitive advantage in today’s business climate (56 percent).

June 10, 2015 

The AICPA recommended that to the extent taxpayers may make accounting method changes for mischaracterized R&E expenditures with a section 481(a) adjustment they should receive audit protection for prior years.

May 11, 2015 

The American Institute of Certified Public Accountants (AICPA) appreciates the opportunity to review and provide input into the February 2015 Request for Comment (Request) on the Financial Accounting Foundation’s Three-Year Review of the Private ...

May 4, 2015 

Thomson Reuters has introduced PPC’s Guide to SSARS Preparation Engagements in response to the new financial statement preparation service introduced by the Accounting and Review Services Committee of the AICPA.

April 29, 2015 

The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) intended to improve the information provided in not-for-profit financial statements and notes to financial statements. Stakeholders are encouraged to review and comment on the proposed ASU, Presentation of Financial Statements of Not-for-Profit Entities, by August 20, 2015. “The proposed ASU contains...…

April 23, 2015 

More than ever, companies both big and small are finding success moving financial management to the cloud. This shift indicates that organizations are working to become more accessible and responsive in the ever-changing world of finance and accounting.