Author Archives: admin

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FASB clarifies collaborative arrangement accounting rules

In a new standard, FASB clarified the interaction between the guidance for certain collaborative arrangements and the revenue recognition standard.
Source: JOA News
Read More here – FASB clarifies collaborative arrangement accounting rules


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Inflation adjustments issued for qualified retirement plans

The IRS updated figures for retirement plan contribution limits for 2019.
Source: Tax News
Read More here – Inflation adjustments issued for qualified retirement plans


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Inflation adjustments issued for qualified retirement plans

The IRS released updated figures for retirement plan contribution limits for 2019.
Source: JOA News
Read More here – Inflation adjustments issued for qualified retirement plans


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It’s crunch time for private companies on revenue recognition

Here’s what company leaders need to know about an implementation job that may be arduous.
Source: JOA News
Read More here – It’s crunch time for private companies on revenue recognition


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Disclosures by audit committees continue to rise

Audit committees for public companies are providing more information to the public on their procedures for oversight of external auditors, according to an analysis conducted by the Center for Audit Quality and Audit Analytics.
Source: JOA News
Read More here – Disclosures by audit committees continue to rise


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Proposed rules would exempt corporate US shareholders from Sec. 956

The IRS issued proposed regulations providing that Sec. 956, which requires an income inclusion by U.S. shareholders of controlled foreign corporations (CFCs) that invest in U.S. property, should not apply to corporate shareholders.
Source: Tax News
Read More here – Proposed rules would exempt corporate US shareholders from Sec. 956


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Proposed rules would exempt corporate US shareholders from Sec. 956

The IRS issued proposed regulations providing that Sec. 956, which requires an income inclusion by U.S. shareholders of controlled foreign corporations (CFCs) that invest in U.S. property, should not apply to corporate shareholders.
Source: JOA News
Read More here – Proposed rules would exempt corporate US shareholders from Sec. 956


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FASB expands private company consolidation relief

FASB expanded an accounting alternative for private companies and changed the rules for all entities for deciding whether a decision-making fee is a variable interest.
Source: JOA News
Read More here – FASB expands private company consolidation relief


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IASB clarifies definition of ‘material’

The IASB revised its definition of “material” in an effort to make it easier for companies to decide which information is important enough to include in their financial statements.
Source: JOA News
Read More here – IASB clarifies definition of ‘material’


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FinREC issues working draft on credit loss issue

The AICPA Financial Reporting Executive Committee (FinREC) issued a working draft of an accounting issue related to the implementation of FASB’s new standard on accounting for credit losses.
Source: JOA News
Read More here – FinREC issues working draft on credit loss issue