Accounting
Top stories summarized by our editors
12/11/2018

The Financial Accounting Standards Board has addressed accounting issues related to implementation of the new leases standard. The Accounting Standards Update affects accounting for sales and similar taxes, certain lessor costs and certain requirements related to variable payments in contracts.

12/11/2018

Companies need to adhere to policies and controls that reinforce quality in non-generally accepted accounting principle reporting and key performance indicators, Securities and Exchange Commission Chairman Jay Clayton and Chief Accountant Wes Bricker said at the AICPA Conference on SEC and PCAOB Developments.

12/11/2018

A proposed standard by the AICPA Forensic and Valuation Services Committee would classify forensic-services engagements as being performed for the purpose of either "litigation" or "investigation."

12/11/2018

The classic movie "It's a Wonderful Life" can teach us a thing or two about the Financial Accounting Standards Board's new revenue recognition standard. You can serve as clients' guardian angel, guiding them as they work to implement the standard, but there might be limits to your involvement.

Full Story:
AICPA Insights
12/11/2018

People who lack sufficient savings when in their 50s or beyond can use certain strategies to address the issue, such as delaying Social Security and relocating to areas with lower living expenses.

Full Story:
CNBC
12/11/2018

In good news for taxpayers, the Internal Revenue Service has announced it will issue regulations to clarify that the costs of trust or estate administration are not miscellaneous itemized deductions and, therefore, are still fully deductible.

Full Story:
The Tax Adviser
More Summaries:
Internal Revenue Service
12/11/2018

Monday's delay extends and deepens uncertainty surrounding Brexit. Businesses are in limbo with the March 29 deadline looming.

Full Story:
Financial Management
12/11/2018

Possenriede is vice president of finance and program management at unit Lockheed Martin Aeronautics.

Full Story:
MarketWatch
More Summaries:
Lockheed Martin
12/10/2018

Health savings accounts allow for significant tax benefits, although many people use them more like checking accounts than investment vehicles. Here are answers to common questions about the accounts and factors to consider when choosing among them.

12/10/2018

Potential focus areas for 2019 inspections of audits of issuers and brokers and dealers will include systems of quality control, independence issues and recurring deficiencies, according to a Public Company Accounting Oversight Board staff document issued Thursday.

More Summaries:
PCAOB