CPA Never under estimate the value
A proposal issued by the Federal Accounting Standards Advisory Board would clarify how an advance should be presented in component entity financial statements.
Source: JOA News
Read More here – FASAB proposal would clarify presentation requirement
Accounting relief from reference rate reform would be extended to a modification known as the “discounting transition” under a proposal issued by the Financial Accounting Standards Board.
Source: JOA News
Read More here – FASB proposes scope clarification for reference rate relief
Investors are looking for actions that back up statements about equity.
Source: JOA News
Read More here – Companies seek ways to report diversity progress
FASB staff issued a paper that educates borrowers on accounting for debt modifications and restructurings, which have surged as a result of the coronavirus pandemic.
Source: JOA News
Read More here – FASB staff weighs in on debt modifications and restructurings
The AICPA has created a template for members to use when requesting a penalty abatement from the IRS. Many taxpayers are receiving penalty notices after COVID-19 hampered their ability to meet tax filing obligations.
Source: Tax News
Read More here – Template for requesting penalty abatement available from AICPA
The AICPA has created a template for members to use when requesting a penalty abatement from the IRS. Many taxpayers are receiving penalty notices after COVID-19 hampered their ability to meet tax filing obligations.
Source: JOA News
Read More here – Template for requesting penalty abatement available from AICPA
Practitioners can provide services to clients related to cybersecurity beyond their financial statement auditing role, according to a newly published report from the Center for Audit Quality.
Source: JOA News
Read More here – Cybersecurity provides opportunities for auditors to serve
The IRS issued the 2021 inflation adjustment amounts and tax tables for use in preparing 2021 tax returns in the 2022 filing season. Many of the over 60 items increased from 2020.
Source: Tax News
Read More here – 2021 inflation adjustments and tax tables issued
The IRS issued the 2021 inflation adjustment amounts and tax tables for use in preparing 2021 tax returns in the 2022 filing season. Many of the over 60 items increased from 2020.
Source: JOA News
Read More here – 2021 inflation adjustments and tax tables issued
The IRS announced that the income ranges for employee participation in workplace 401(k) plans and IRA contributions will increase from 2020 to 2021. Most of the other retirement plan contribution limits stayed the same, however.
Source: Tax News
Read More here – Inflation-adjusted income ranges for 2021 IRA and 401(k) plans
