ACCOUNTING, AUDITING & ATTEST SERVICES


FASB Addresses Financial Reporting Impacts of New Tax Law
 

FASB Addresses Financial Reporting Impacts of New Tax Law

Posted: January 11, 2018
FASB addressed numerous financial reporting implications of P.L. 115-97, known as the Tax Cuts and Jobs Act, in an effort to provide financial statement preparers with timely answers to questions they have posed.


Fee Disclosures and Fiduciary Responsibilities Under ERISA
 

Fee Disclosures and Fiduciary Responsibilities Under ERISA

Posted: January 5, 2018
The Employee Retirement Income Security Act (ERISA) Section 401(a)(1) requires fiduciaries of retirement plans to make decisions that are in the best interests of the participants of the plan. To assist fiduciaries in selecting and monitoring service providers, the Department of Labor passed regulations under ERISA Section 408(b)(2) that have been effective since July 1, 2012.


FASB Plans to Ease Lease Accounting Requirements
 

FASB Plans to Ease Lease Accounting Requirements

Posted: November 30, 2017
The Financial Accounting Standards Board decided during a meeting Wednesday to ease some of the implementation burdens and possible costs of the new lease accounting standard by making several adjustments and offering some practical expedients.

Analyzing Financial Statements: How CPAs Can Deliver Value
 

Analyzing Financial Statements: How CPAs Can Deliver Value

Posted: November 8, 2017
Analyzing financial statements, and the creation of reports based off of these analyses, form a large chunk of what many CPAs do on a day-to-day basis. Instead of treating this activity as simply another reporting function, accounting professionals should also focus on the value of extracting and reporting better information.


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