Journal of Accountancy - Accounting, tax, auditing news
WEBHow to add the JofA to your Apple News app. This quick guide walks you through the process of adding the Journal of Accountancy as a favorite news source in the News app from Apple. The Journal of Accountancy is the ultimate resource for today’s CPA, providing daily professional and regulatory updates, breaking news and videos.
Tax, accounting, auditing news - Journal of Accountancy
WEBSep 20, 2024 — 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. Chair outlines Private Company Council’s top 4 priorities. Credit losses, debt modifications, retainage and …
Medicare’s tricky rules on HSAs after age 65
WEBJul 1, 2021 — A high-level overview of the Medicare enrollment rules is in order. According to Medicare.gov: 1. Taxpayers already receiving Social Security at their 65th birthday will automatically be signed up for Medicare. Taxpayers who aren't yet collecting Social Security and are still covered by an employer's group health plan because they are actively ...
5 best practices for intercompany accounting - Journal of …
WEBDec 1, 2016 — HOW TO PREVENT PROBLEMS. To avoid problems and to effectively support new regulatory pressures, Cheney recommended five best practices: Standardize global policies that govern critical areas across the organization. Most companies tend to have in place one or two pages of very high - level policies for intercompany accounting.
Audit & assurance news and resources - Journal of Accountancy
WEBJul 22, 2024 — A new PCAOB report highlights how audit quality can be improved by root cause analysis — an approach the federal board eventually could require and one addressed in new AICPA quality management system standards. The latest auditing news and insights from the Journal of Accountancy, the ultimate resource for today’s CPA.
Keep or toss? A guide to CPA firm record retention
WEBWhen determining which records should be kept or purged, consider retaining items that document or support the firm's: Client/engagement evaluation process: Such as signed engagement letters, client acceptance checklists, engagement acceptance approvals, and client disengagement letters. Administrative records: Such as fee and billing records ...
Accounting & reporting news and resources - Journal of …
WEBAn AICPA director who has closely followed corporate reporting on climate issues explains the new SEC rule’s importance for accountants who create financial statements and those who audit them. Read the Q&A or listen to the transcript. The latest accounting and financial reporting news and insights from the Journal of Accountancy, the ...
Challenges to consider in auditing revenue recognition
WEBJul 1, 2020 — FASB's new revenue recognition standard, FASB ASC Topic 606, Revenue From Contracts With Customers, is one of the most significant changes ever in U.S. GAAP. The new, principles-based standard requires consideration of a five-step framework that includes estimates on the revenue recognized for the accounting period (see the sidebar, "Independence Missteps Related to Revenue Recognition," below).
Management accounting news and resources - Journal of …
WEBHow to best tackle technology and the talent pipeline. Tom Hood’s travels have been “eye-opening and quite rewarding”; he reflects on three years in an AICPA & CIMA executive role in this podcast episode with transcript. The latest management accounting news and insights from the Journal of Accountancy, the ultimate resource for today’s ...
Accounting for sale and leaseback transactions
WEBOn Dec. 31, 2021, the seller-lessee would record the transaction as shown in the table "Journal Entry Based on Amortization Table.". The seller-lessee would make similar entries for the remaining nine years. Next, assume the contract provided Smith Corp. with an option to purchase the building on Jan. 1, 2026, for $12,000,000 and that the assets similar to the subject asset are not readily ...