CPA Never under estimate the value
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: JOA News
Read More here – Inflation-adjusted income ranges for 2021 IRA and 401(k) plans
FASB would clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified forwards and options under a proposal issued Monday.
Source: JOA News
Read More here – FASB proposes clarifying forwards and options accounting
How well do auditors perform in assessing and responding to risks of material misstatement? New research provides some answers.
Source: JOA News
Read More here – Gauging risk assessment and response processes
The IRS released draft instructions for Form 1065, U.S. Return of Partnership Income, to calculate partner capital accounts using the tax-basis method.
Source: Tax News
Read More here – Draft instructions for partnership capital account reporting released
The IRS released draft instructions for Form 1065, U.S. Return of Partnership Income, to calculate partner capital accounts using the tax-basis method.
Source: JOA News
Read More here – Draft instructions for partnership capital account reporting released
The AICPA’s Personal Financial Satisfaction Index (PFSi) rose 99% in the third quarter, setting a new record for quarterly growth. This finding underscores this year’s economic volatility, as last quarter the PFSi saw its largest-ever quarterly decline.
Source: JOA News
Read More here – Americans’ personal financial satisfaction sees record rebound
The National Association of State Boards of Accountancy’s board of directors approved changes to the Uniform Accountancy Act Model Rules that create a clear path for the CPA Evolution project.
Source: JOA News
Read More here – UAA Model Rules updated to support evolution of CPA licensure
Panelists at an AICPA fall Council presentation on resilience explained how basic values can drive success during troubled times such as the coronavirus pandemic.
Source: JOA News
Read More here – Pandemic resilience starts with compassion, accountants say
Building on a commitment to diversity with efforts to promote inclusion can make a difference in the accounting profession, according to panelists at the AICPA’s fall Council.
Source: JOA News
Read More here – Diversity and inclusion: Tips for moving the needle
FASB proposed three targeted changes to its lease accounting guidance. The proposal is a response to feedback the board received during its post-implementation process for the lease accounting standard.
Source: JOA News
Read More here – FASB proposes 3 targeted lease accounting changes
