News

  • FASB to propose delaying effective dates for 4 major standards

    FASB plans to propose delaying effective dates for four key standards for certain groups of financial statement preparers after a series of votes taken at a board meeting Wednesday. The plan to delay effective dates for certain companies for accounting for leases, credit losses, hedging, and long-duration insurance contracts is FASB’s response to the burden placed on preparers by the board’s ambitious standard-setting activities.
  • Leveraging the Four Cs to Automation and Advisory

    Over the last several years using “trusted business advisors” to describe CPAs has become quite prevalent. While many CPAs feel a connection to this title, others would be better described as a trusted technical advisor, spending most of their time on compliance- and transaction-related services, which are rapidly becoming automated and commoditized.
  • 5 Ways to Maintain a Positive Attitude for Change

    Imagine you’re planning a vacation. Instead of making a list of all of the fun activities you want to do on your trip, you write down all of the sights you DON’T want to see while there and make a plan for the chores you’ll get done at home if the airport is closed and you can’t leave town.
  • AICPA Issues Auditing Standards for Employee Benefit Plans and Annual Reports, and more - July 16, 2019 News

    CPA License Renewal Due by July 31, but Short on Hours?, AICPA Issues Auditing Standards for Employee Benefit Plans and Annual Reports, AICPA Issues Forensic Accounting Standards, and more.
  • AICPA issues forensic accounting standards

    The AICPA on Wednesday issued new professional standards for members who perform forensic accounting services engagements. The Statement on Standards for Forensic Services No. 1 (SSFS 1) provides authoritative guidance for AICPA members providing litigation and investigative services.
  • BQE Software Launches First Voice-Enabled Artificial Intelligence Feature for Accounting Firms

    BQE Software, Inc. has launched Core Intelligence, an Artificial Intelligence tool that allows users to have human-like conversations with their business software to gain actionable insights about their company and perform work-related tasks.
  • Why the TCJA Packs Even More Depreciation Punch

    The Tax Cuts and Jobs Act (TCJA) combines powerful enhancements for the Section 179 “expensing” and “bonus” depreciation deductions. That’s an effective 1-2 punch that’s hard to beat.
  • IRS Committee Issues Report on Identity Theft and Refund Fraud

    The Electronic Tax Administration Advisory Committee (ETAAC) recently released its annual report to Congress, featuring recommendations focused on the prevention of identity theft and refund fraud.
  • Congress approves IRS reform bill, drops Free File language

    The Senate voted to approve the Taxpayer First Act, H.R. 3151, on Thursday, three days after the House of Representatives had also approved it by a voice vote. The bill now goes to President Donald Trump for his signature. [Update: The president signed the bill into law on July 1, 2019.]
  • 3 Benefits Technology Brings to Financial Reporting & Planning

    Financial management is steering away from the old days of paper-based, manual processes and into an increasingly digital world – and for good reason. We live in a digital economy where nearly every facet of life – including financial management – is digitizing.

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