CPA Never under estimate the value
GASB has decided to undertake a major project on accounting and financial reporting for going concern uncertainties and severe financial stress.
Source: JOA News
Read More here – GASB to consider governmental going concern standards
An addendum to the Office of Management and Budget Compliance Supplement that was issued in December provides clarity on single audit requirements related to two key federal pandemic relief programs.
Source: JOA News
Read More here – Single audit clarity provided related to pandemic relief programs
Two new FASB concept statements address financial statement elements and factors FASB should consider in developing accounting guidance.
Source: JOA News
Read More here – FASB issues 2 new financial accounting concept statements
The IRS advises that Form 1099-C, Cancellation of Debt, should not be filed for student loans covered by the ARPA temporary special rule excluding most discharges from borrowers’ income.
Source: Tax News
Read More here – Lenders should not report student loans discharged under ARPA
The IRS advises that Form 1099-C, Cancellation of Debt, should not be filed for student loans covered by the ARPA temporary special rule excluding most discharges from borrowers’ income.
Source: JOA News
Read More here – Lenders should not report student loans discharged under ARPA
Complying with ethical requirements for accepting and continuing engagements contributes greatly to audit quality. Take this quiz to test your knowledge of ethical standards you need to consider when accepting or continuing engagements.
Source: JOA News
Read More here – Quiz: Ethical standards to consider when accepting or continuing an attest engagement
Leaders are employing a range of strategies to keep workers; some save costs elsewhere to invest in employee training and benefits. One-fourth of companies are offering signing bonuses.
Source: JOA News
Read More here – How companies are responding to rising pressure on wages and benefits
A proposed Accounting Standards Update would help investors and others better consider the effects on a buyer’s working capital, liquidity and cash flows. The comment deadline is March 21.
Source: JOA News
Read More here – FASB ASU addresses supplier finance programs
To be deductible at the entity level, payments by passthrough entities of state and local taxes should be made in the tax year of the liability, but state-specific elections may complicate that timing, tax advocates advise.
Source: Tax News
Read More here – SALT payments before year end a priority for passthroughs
To be deductible at the entity level, payments by passthrough entities of state and local taxes should be made in the tax year of the liability, but state-specific elections may complicate that timing, tax advocates advise.
Source: JOA News
Read More here – SALT payments before year end a priority for passthroughs
