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November 17, 2014

Supreme Court Takes on Major Tax Cases

The Supreme Court held a hearing last week on a case that could have far-reaching implications, challenging the authority of the state of Maryland to tax all of the income of a resident whose business pays taxes to other states and localities, while another case coming up on the Affordable Care Act promises to have even bigger ramifications.

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Posted by Michael Cohn at 08:09AM | Comments (3)

November 12, 2014

Russian Bill Proposes to Ban Foreign Audit Firms

A group of Russian lawmakers has introduced legislation that would prohibit foreign accounting firms from auditing Russian companies in which the government owns more than a 50 percent interest.

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Posted by Michael Cohn at 05:22PM | Comments (2)

October 31, 2014

Climate Change Reporting Framework Links to Financial Performance

A group known as the Climate Disclosure Standards Board is readying an updated Climate Change Reporting Framework that aims to tie environmental information in with financial reporting for investors.

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Posted by Michael Cohn at 04:26PM | Comments (3)

October 29, 2014

Handling Tax Complexity on Constructive Sales

Hedge funds and portfolio managers often have sophisticated needs when it comes to dealing with capital gains taxes and keeping them to a minimum, and one of the wrinkles they need to deal with is a constructive sale.

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Posted by Michael Cohn at 06:13PM | Comments (0)

October 14, 2014

Goodwill Impairment on the Decline

Publicly traded companies in the U.S. recorded the lowest level of goodwill impairment since 2008, according to a new study.

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Posted by Michael Cohn at 04:18PM | Comments (0)

October 13, 2014

Complacency about Fraud Exacts a Heavy Cost

The Association of Certified Fraud Examiners is warning about the costs to organizations of being overly complacent about financial fraud.

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Posted by Michael Cohn at 11:23AM | Comments (0)

October 8, 2014

SEC Grapples with Forward-Looking Information and Financial Disclosures

The Securities and Exchange Commission has been conducting a review of the effectiveness of financial disclosures by public companies within and outside of financial statements, and some investors have wondered about where forward-looking statements should fit into them.

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Posted by Michael Cohn at 05:35PM | Comments (0)

October 3, 2014

Strengthening Accounting Organizations in Developing Countries

While there are many well-equipped organizations for accountants in the United States and Europe, much of the developing world is still missing robust groups that can foster development of ethical practices for accountants and look out for their interests.

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Posted by Michael Cohn at 04:08PM | Comments (1)

October 2, 2014

AICPA Provides Guidance on Liquidation Basis of Accounting in Employee Benefit Plans

The American Institute of CPAs’ Employee Benefit Plans Expert Panel has developed some new practice aids to provide nonauthoritative guidance about the effects of recent accounting standards relating to the liquidation basis of accounting on employee benefit plans.

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Posted by Michael Cohn at 04:35PM | Comments (0)

October 1, 2014

Podcast Series Teaches Small Accounting Firms How to Grow

A new podcast series aims to help small accounting firms grow.

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Posted by Michael Cohn at 06:02PM | Comments (0)


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