Journal of Accountancy
- Final regs. target syndicated conservation easement transactions October 7, 2024The IRS issued the final regulations identifying these abusive transactions and substantially similar ones as listed transactions that must be reported to the agency.
- ‘Majority moves’ in tech: Finance leaders reveal popular practices October 7, 2024Finance leaders are increasingly being asked to devise plans that use new technologies to improve the bottom line. Recent survey results highlight the most common approaches leaders are taking.
- IRS provides Helene relief; AICPA seeks BOI, FBAR filing extensions October 3, 2024The IRS said it was providing disaster relief for individuals and businesses in all or part of seven states. Also, the AICPA sent a letter to FinCEN seeking extensions for BOI and FBAR reports that match the relief that the IRS provides for other filings, both in terms of the extended due dates and geographic […]
- PCAOB inspectors offer advice in areas of risk October 1, 2024Public company audits can benefit from expert input, particularly in the rapidly changing world of cryptoassets. Also, the SEC, FASB, and FASAB issued regulatory updates.
- CPA licensure update: Uniform Accountancy Act changes proposed September 30, 2024The AICPA and NASBA seek comments on changes that would allow states to adopt the proposed CPA Competency-Based Experience Pathway.
- New AICPA apprenticeship program expands accounting talent opportunities September 27, 2024The Registered Apprenticeship for Accounting and Finance Associate program pairs employers and entry-level employees. It expands the AICPA’s apprenticeship offerings.
- ERC supplemental claim process opened for third-party payroll companies September 26, 2024The IRS announced that it will open a supplemental claim process to help third-party payers and their clients resolve incorrect claims for the employee retention credit. The deadline is Nov. 22.
- FASB seeks input on hedge accounting ASU September 25, 2024The 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.
- Chair outlines Private Company Council’s top 4 priorities September 25, 2024Credit losses, debt modifications, retainage and overbillings presentation, and leases are the main items on the PCC agenda.
- CPA Exam update: Core sections to offer more testing windows in 2025 September 24, 2024The 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.
- IRS increases special per diem rate for business travel September 23, 2024The special per diem rates that a taxpayer uses in travel and business expenses will be higher starting Oct. 1, as provided by the IRS.
- Using behavioral science in a financial-planning practice September 23, 2024By understanding psychological influences on decision-making, CPA financial planners can work with clients more effectively and improve how they operate their practice.
- Clarification proposed for CPAs’ financial statement preparation engagements September 20, 2024An 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.
- Final regs. issued on consistent-basis and basis-reporting rules September 16, 2024The IRS issued guidance for recipients of property from decedents on the basis-consistency requirement and for executors and others on basis-reporting requirements.
- More organizations are turning to AI in the finance function September 16, 2024Research finds a significant increase in the percentage of companies leaning into finance AI, even as many struggle to develop sufficient talent to oversee execution.