CPA Never under estimate the value
The proposed Accounting Standards Update is intended to clarify guidance on hedge accounting and address incremental hedge accounting issues arising from the global reference rate reform initiative.
Source: JOA News
Read More here – FASB seeks input on hedge accounting ASU
Credit losses, debt modifications, retainage and overbillings presentation, and leases are the main items on the PCC agenda.
Source: JOA News
Read More here – Chair outlines Private Company Council’s top 4 priorities
The Core sections of the newly designed CPA Exam were graded quarterly during the testing model’s first year, but 16 grading periods are scheduled for next year.
Source: JOA News
Read More here – CPA Exam update: Core sections to offer more testing windows in 2025
The special per diem rates that a taxpayer uses in travel and business expenses will be higher starting Oct. 1, as provided by the IRS.
Source: JOA News
Read More here – IRS increases special per diem rate for business travel
By understanding psychological influences on decision-making, CPA financial planners can work with clients more effectively and improve how they operate their practice.
Source: JOA News
Read More here – Using behavioral science in a financial-planning practice
An AICPA committee approved a proposed revision to Statement on Standards for Accounting and Review Services (SSARS) No. 21 addressing the applicability of the standard when preparing financial statements as a part of consulting services.
Source: JOA News
Read More here – Clarification proposed for CPAs’ consulting services engagements
The IRS issued guidance for recipients of property from decedents on the basis-consistency requirement and for executors and others on basis-reporting requirements.
Source: JOA News
Read More here – Final regs. issued on consistent-basis and basis-reporting rules
Research finds a significant increase in the percentage of companies leaning into finance AI, even as many struggle to develop sufficient talent to oversee execution.
Source: JOA News
Read More here – More organizations are turning to AI in the finance function
The first proposed regulations under Sec. 139E set out the requirements for excluding Indian tribal general welfare benefits from income.
Source: JOA News
Read More here – Proposed regs. would exclude tribal general welfare benefits from income
The IRS issued proposed regulations providing guidance on the corporate alternative minimum tax (AMT) and a notice that waives the penalty for failure to pay estimated tax with respect to the corporate AMT for 2024.
Source: JOA News
Read More here – Corporate AMT proposed regulations issued; some penalties waived
