FASB decided to simplify implementation of its new lease accounting standard in an effort to reduce costs and decrease challenges for financial statement preparers.
Source: JOA News
Read More here – FASB simplifying leases standard implementation
Three proposals issued by the AICPA Auditing Standards Board are designed to enhance the relevance and usefulness of the auditor’s report for audits of nonissuers.
Source: JOA News
Read More here – ASB addresses auditor’s report, other information, standards alignment
Here are some things financial statement preparers should keep in mind when implementing FASB’s lease accounting standard
Source: JOA News
Read More here – Practical considerations for lease accounting
The ASB issued a statement of position providing guidance for attestation engagements related to third-party due-diligence services performed in connection with asset-backed securities.
Source: JOA News
Read More here – Attestation guidance for third-party due-diligence services for asset-backed securities
In an effort to simplify its Accounting Standards Codification, FASB has combined its guidance for income statements and comprehensive income into one topic.
Source: JOA News
Read More here – FASB combines guidance for income statement, comprehensive income into one topic
The version of the tax reform bill passed by the Senate Finance Committee holds several more changes affecting both individuals and businesses.
Source: Tax News
Read More here – Senate tax reform bill contains more changes
The version of the tax reform bill passed by the Senate Finance Committee holds several more changes affecting both individuals and businesses.
Source: JOA News
Read More here – Senate tax reform bill contains more changes
Will blockchain technology have a similar harmful effect on CPAs, or will it merely become a useful tool for accountants?
Source: JOA News
Read More here – Blockchain: An opportunity for accountants? Or a threat?
The U.S. House of Representatives passed the Tax Cuts and Jobs Act bill, H.R. 1, by a vote of 227–205.
Source: Tax News
Read More here – House passes tax reform bill
The U.S. House of Representatives passed its tax reform bill, on a 227–205 vote.
Source: JOA News
Read More here – House passes tax reform bill
