News


IRS Proposes Revised Fees for Installment Agreements
 

IRS Proposes Revised Fees for Installment Agreements

Posted: August 22, 2016
The Internal Revenue Service is proposing a revised schedule of user fees that would take effect on January 1, 2017, and apply to any taxpayer who enters into an installment agreement.

FASB Issues New Guidance on Not-for-Profit Financial Reporting
 

FASB Issues New Guidance on Not-for-Profit Financial Reporting

Posted: August 19, 2016
The Financial Accounting Standards Board has issued an Accounting Standards Update that simplifies and improves how a not-for-profit organization classifies its net assets, as well as the information it presents in financial statements and notes about its liquidity, financial performance and cash flows.

AICPA Proposes Changes to Peer Review Reports, Firm Representation Letters
 

AICPA Proposes Changes to Peer Review Reports, Firm Representation Letters

Posted: August 18, 2016
The AICPA Peer Review Board issued a proposal Wednesday that would modify the current peer review report so that it would clearly indicate if a single audit was selected. The exposure draft also proposes that the firm representation letter be modified to reflect all must-select engagements, including single audits.


NASBA and AICPA Announce Revisions to CPE Standards
 

NASBA and AICPA Announce Revisions to CPE Standards

Posted: August 17, 2016
The National Association of State Boards of Accountancy and the American Institute of CPAs have approved revisions to the Statement on Standards for CPE Programs as well as the NASBA Fields of Study document. The changes take effect September 1, 2016.


FASB Proposes Financial Statement Presentation Concepts
 

FASB Proposes Financial Statement Presentation Concepts

Posted: August 11, 2016
The Financial Accounting Standards Board has issued for public comment an Exposure Draft related to its conceptual framework presentation project. Stakeholders are encouraged to review and comment on the proposal by November 9, 2016.


U.S. Accounting Salaries Continue to Escalate
 

U.S. Accounting Salaries Continue to Escalate

Posted: August 11, 2016
Salary increases for U.S. accounting and finance positions will continue to escalate in 2017 as employers wrestle with a shortage of qualified professionals, according to a new salary guide.