Clik here to view.
ICYMI | The Statement of Cash Flows Turns 30
This past year marked the 30th anniversary of the statement of cash flows as a required financial statement. FASB’s efforts in developing the then-new standard were heavily influenced by the...
View ArticleICYMI | The Challenge of Embedded Leases
As companies face the significant challenges in adopting Accounting Standards Codification (ASC) Topic 842, “Leases,” little has been written about the challenge posed by the requirement to evaluate...
View ArticleClik here to view.
Forté Capital’s Selected Statistics
ISM Manufacturing Index The manufacturing sector is slowing, especially the export sectors. According to the ISM survey of purchasing managers, there is concern over the effect of trade talks and...
View ArticleTax & Accounting Update
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is a quick-reference guide to the most...
View ArticleClik here to view.
Fraud ‘Possibilities’ Are Realities
I particularly enjoyed Mark Nickerson’s article on fraud possibilities in your annual technology issue (“Fraud in a World of Advanced Technologies,” June 2019, http://bit.ly/2LJedBZ). I wager he’s...
View ArticleClik here to view.
Financial Instruments
About the Panelists Robert Uhl, partner at Deloitte & Touche LLP; Scott Taub, managing director at Financial Reporting Advisors LLC; Mark LaMonte, former managing director at Moody’s Investors...
View ArticleClik here to view.
More on Whistleblower Protections
We enjoyed reading Catherine R. Allen and David M. Nair’s article in the March 2019 The CPA Journal, “Disclosure of Noncompliance with Laws and Regulations: What Whistleblower Protections Exist for...
View ArticleClik here to view.
Oregon’s New Commercial Activity Tax
CPAs need to be aware of current developments in key states in order to properly advise their clients that engage in business in multiple jurisdictions. This article will provide an overview of the...
View ArticleClik here to view.
The Real Estate Trade or Business Exception from IRC Section 163(j)
The scope of the exception for taxpayers engaged in a real estate trade or business from the harsh consequences of Internal Revenue Code (IRC) section 163(j) remains uncertain, even in the aftermath...
View ArticleClik here to view.
Cybersecurity: Where Are We, and What More Can Be Done?
Our mission at the PCAOB calls on us to protect investors and the public interest by overseeing one particular aspect of the financial reporting ecosystem: the preparation of informative, accurate,...
View ArticleClik here to view.
Cybersecurity Tools for CPAs
Sometimes the highest and best value that CPAs can provide to their clients and employers is to prevent problems from occurring or to recognize events that could have a negative impact. Accountants do...
View ArticleClik here to view.
Current Developments in the Private Sector
About the Panelists Susan Cosper, technical director at FASB and recently appointed to be a member of the board; Robert Laux, region lead for North America at the International Integrated Reporting...
View ArticleClik here to view.
Modifications to Audit Reports that Do Not Affect the Audit Opinion
Circumstances requiring modifications to, or departures from, an unqualified auditor’s opinion are described, together with appropriate guidance, in AU-C section 705, “Modifications to the Opinion in...
View ArticleClik here to view.
Implementing Standards: How Do Preparers Cope?
About the Panelists Prabhakar Kalavacherla, a partner in the audit quality and professional practice group at KPMG; Mark LaMonte, former managing director at Moody’s Investors Service; Sarah...
View ArticleThe Challenges in Proving a Medical Exception
Estates can be in shambles for years over medical bills, especially when the bills start to surpass an average yearly household income and coverage requires proving an exception to standard...
View ArticleClik here to view.
Hedges of Recognized Foreign Currency–Denominated Assets and Liabilities
Accounting Standards Update 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,modifies the accounting and reporting of foreign currency forward...
View ArticleTop Ten Changes in the Taxpayer First Act of 2019
On July 1, 2019, President Trump signed into law the Taxpayer First Act of 2019 (TFA), enacting changes to the IRS’s organizational structure, customer service, enforcement procedures, management of...
View ArticleClik here to view.
Current Developments at the SEC
About the Panelists Wesley Bricker, chief accountant at the SEC’s Office of the Chief Accountant; Kyle Moffatt, chief accountant at the SEC’s Division of Corporation Finance; and Matt Jacques, chief...
View ArticleClik here to view.
The Statement of Cash Flows Turns 30
This past year marked the 30th anniversary of the statement of cash flows as a required financial statement. FASB’s efforts in developing the then-new standard were heavily influenced by the...
View ArticleThe Challenge of Embedded Leases
As companies face the significant challenges in adopting Accounting Standards Codification (ASC) Topic 842, “Leases,” little has been written about the challenge posed by the requirement to evaluate...
View Article
