Category: AICPA News

The new section is related to the measurement of items recognized in financial statements. It completes the board’s framework.

Grant Thornton’s Q2 2024 CFO survey found that 58% of CFOs are optimistic about the U.S. economy — the highest level of optimism since the third quarter of 2021. Plus, a rising percentage of CFOs expect profits to grow in the next 12 months.

The IRS is collecting on tax liabilities that were not “even in dispute,” Commissioner Danny Werfel said, but the IRS did not previously have the resources to pursue payment.

Practitioners who once contemplated changing professions share strategies that changed their lives for the better — at the office and away from it.

The number of financial restatements filed with the SEC dropped by more than 50% from 2013 to 2022, according to a Center for Audit Quality study.

Incorporating the case-study method provides a way to improve accounting and finance student engagement.

The proposed regulations apply to overpayments of interest on erroneous refunds of COVID-19 credits paid on or after July 2.

A survey by the AICPA shows that almost two-thirds of tax professionals say it takes over 90 days to get a substantive response from the IRS to correspondence.

The final regulations provide guidance regarding the reporting and payment of the excise tax on repurchases of corporate stock made after Dec. 31, 2022.

The final regulations require custodial brokers to report transactions on Form 1099-DA, which the IRS will release soon. A different set of final regulations with rules for decentralized, or noncustodial, brokers will be issued later.