Monthly Archives: February 2018

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FASB issues technical corrections to financial instruments standard

FASB issued technical corrections and improvements to its financial instruments standard on recognition and measurement of financial assets and liabilities that was originally issued in 2016.
Source: JOA News
Read More here – FASB issues technical corrections to financial instruments standard


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How the new tax law will change wealthy Americans’ financial plans

Three in five affluent Americans (63%) said they’re very or somewhat likely to change their personal financial plans based on the new federal tax law, according to a poll conducted on behalf of the AICPA.
Source: JOA News
Read More here – How the new tax law will change wealthy Americans’ financial plans


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Revised compilation and review report requirements to be included in SSARS No. 24

A new Statement on Standards for Accounting and Review Services will be issued in late May in an effort to decrease the impact on practitioners during busy season.
Source: JOA News
Read More here – Revised compilation and review report requirements to be included in SSARS No. 24


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News quiz: Americans’ financial satisfaction is up

See how much you know about recent news with this short quiz.
Source: JOA News
Read More here – News quiz: Americans’ financial satisfaction is up


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Partnership audit adjustments addressed in proposed regs.

The IRS issued proposed regulations addressing how partnerships and their partners adjust tax attributes to take into account partnership adjustments under the new centralized partnership audit regime.
Source: Tax News
Read More here – Partnership audit adjustments addressed in proposed regs.


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SEC publishes new requirements for cybersecurity disclosures

Public companies received new guidance from the SEC on the disclosures they should make related to cybersecurity.
Source: JOA News
Read More here – SEC publishes new requirements for cybersecurity disclosures


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FASB proposes adding a new benchmark interest rate for hedge accounting

FASB proposed adding a new U.S. benchmark interest rate to the list of rates permitted in the application of hedge accounting.
Source: JOA News
Read More here – FASB proposes adding a new benchmark interest rate for hedge accounting


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FASB addresses stranded income tax effects of new tax law

FASB issued new rules that provide financial statement preparers with an option to reclassify stranded tax effects within accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act.
Source: JOA News
Read More here – FASB addresses stranded income tax effects of new tax law


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IRS proposes to remove 298 regulations

The IRS is proposing to remove 298 regulations that have no current or future application to the Internal Revenue Code.
Source: Tax News
Read More here – IRS proposes to remove 298 regulations


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IRS proposes to remove 298 regulations

The IRS is proposing to remove 298 regulations that have no current or future application to the Internal Revenue Code.
Source: JOA News
Read More here – IRS proposes to remove 298 regulations