The SEC voted to change the definition of “smaller reporting company” in an effort to expand the number of companies that qualify for scaled disclosure accommodations.
Source: JOA News
Read More here – With SEC vote, more companies qualify for scaled disclosure
The U.S. Securities and Exchange Commission voted to adopt and propose several new rules, including changes to the SEC’s whistleblower program and a requirement to use Inline XBRL in certain filings.
Source: JOA News
Read More here – SEC adopts, proposes several new rules
The proposal attempts to reduce diversity in practice on the accounting for complex instruments that have features of debt and equity.
Source: JOA News
Read More here – IASB seeks clarity between liabilities and equity
The IRS is working on a draft version of the 2018 Form 1040, U.S. Individual Income Tax Return, that reduces the size of the form to two half-pages in length and eliminates more than 50 lines.
Source: Tax News
Read More here – Form 1040 to be shorter but with more schedules
The IRS is working on a draft version of the 2018 Form 1040, U.S. Individual Income Tax Return, that reduces the size of the form to two half-pages in length and eliminates more than 50 lines.
Source: JOA News
Read More here – Form 1040 to be shorter but with more schedules
The proposal would realign the definitions of “collections” used in GAAP and the American Alliance of Museums’ Code of Ethics for Museums.
Source: JOA News
Read More here – FASB proposes update to definition of ‘collections’
Careful testing and thorough documentation are among the keys for quality single audit performance described by Laurie De Armond, CPA, in her summary of observations from the AICPA Not-for-Profit Industry Conference.
Source: JOA News
Read More here – Strategies for quality work in single audits
Under a proposal issued by the AICPA Professional Ethics Executive Committee, certain reviews of a tax practice would be explicitly included in exceptions to AICPA Professional Standards client information disclosure rules.
Source: JOA News
Read More here – Proposal would clarify exception to client confidentiality rule
The Supreme Court’s decision on sales tax collection could give smaller companies that rely on in-store sales a better chance to compete with virtual retailers.
Source: JOA News
Read More here – A new playing field for business
State and local governments will provide new information to financial statement users under a standard GASB issued that establishes accounting rules for accounting for interest cost incurred before the end of a construction period.
Source: JOA News
Read More here – GASB addresses interest cost incurred before a construction period ends
