Accounting Newswire
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FAF CEO Terri Polley Explains How New Private Company Council Will Function
May 23, 2012Financial Accounting Foundation CEO Terri Polley explained to Accounting Today some of the thinking behind the new Private Company Council that the FAF Board of Trustees voted to create on Wednesday.
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AICPA Says It Supports FAFs New Private Company Council
May 23, 2012The American Institute of CPAs has agreed to lend its support to the new Private Company Council established by the Financial Accounting Foundation after opposing an earlier version proposed by the FAF last year.
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PCAOB Sanctions Firm and CPA for China Audits
May 23, 2012The Public Company Accounting Oversight Board has revoked the registration of an upstate New York firm for relying on outside firms in China and Taiwan to audit three companies in those countries while exercising little supervision.
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New Private Company Standards Council Established
May 23, 2012The Financial Accounting Foundations board of trustees has voted to establish a new Private Company Council that will determine whether exceptions or modifications to U.S. GAAP for privately held companies are necessary.
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New York CPAs Back Safe Harbor Rules for Trust Decantings
May 23, 2012The New York State Society of CPAs said the Internal Revenue Service should provide safe harbor guidelines for transferring property from one irrevocable trust to another, a process known as a trust decanting.
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Xero Buys WorkflowMax, Adds Practice Management
May 23, 2012Cloud accounting service Xero has purchased practice management suite provider WorkFlowMax, effectively adding tools for accountants to track leads, jobs, invoices and time.
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Pan African Accountants Adopt International Standards
May 23, 2012The Pan African Federation of Accountants has approved a resolution to adopt international accounting and auditing standards.
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Financial Advisors Question Traditional Portfolio Mix
May 22, 2012Financial advisors believe traditional diversification and portfolio construction techniques need replacement, and are questioning the relevance of time-honored asset allocation strategies that rely on a 60/40 mix of stocks and bonds and long-term, buy-and-hold approaches, according to a new study.
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McGladrey Finds Private Equity Firms Aid Job Growth
May 22, 2012Private equity firms are helping with employment growth, according to a new survey by accounting firm McGladrey LLP.
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Thomson Reuters Releases Workpapers CS
May 22, 2012The Tax & Accounting business of Thomson Reuters has released Workpapers CS workflow software for managing workpapers and source documents.
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Congressmen Urge FASB to Reconsider Lease Accounting Changes
May 22, 2012A group of 60 members of Congress, led by two CPAs turned lawmakers, have written a letter to the Financial Accounting Standards Board warning of disastrous consequences for American businesses and the real estate industry if FASBs proposed changes in lease accounting standards are approved.
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IRS to Close 43 Offices
May 22, 2012The Internal Revenue Service plans to shed more than 1 million square feet of office space by closing 43 of its smaller offices and consolidating other offices.
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RR Donnelley to Acquire Edgar Online for $70.5M
May 22, 2012Custom communications services developer R. R. Donnelley & Sons Co. has signed a definitive agreement to acquire Edgar Online, a financial data, analytics and disclosure management services provider, for approximately $70.5 million.
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Securities Class-Action Filings over Accounting Increase
May 22, 2012Securities class-action filings that involve accounting allegations increased in 2011 from 2010, which had the lowest number of accounting case filings in recent years, according to a new report.
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J.H. Cohn and Reznick Group to Merge
May 22, 2012Two of the largest accounting firms in the U.S., J.H. Cohn LLP and Reznick Group P.C., said Tuesday they plan to merge in September.
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FATCA Requirements a Work in Progress for IRS
May 21, 2012The Internal Revenue Service has taken some initial steps to implement the Foreign Account Tax Compliance Act, but it still has a long way to go, according to a new government report.
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Few Small Businesses Claim Health Insurance Tax Credit
May 21, 2012Far fewer small employers claimed the health insurance tax credit for small businesses in the health care reform law than were eligible, according to a new government report.
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Raich Ende Malter Merges in Trien Rosenberg and Todman
May 21, 2012New York-based accounting firm Raich Ende Malter & Co. LLP has merged in the New Jersey-based firm Trien Rosenberg Weinberg Ciullo & Fazzari LLP, along with Triens New York-based affiliate Todman & Co., expanding Raichs presence in the Mid-Atlantic region.
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FAF Examines Effectiveness of Business Segments Standard
May 21, 2012The Financial Accounting Foundation is looking for accountants who are interested in participating in a post-implementation review of how well an accounting standard for reportable operating segments has worked.
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IRS Provides Automated Tax Data Input for FAFSA Form
May 21, 2012Students completing the Free Application for Federal Student Aid form can now skip the time consuming process of copying their tax data onto the form.
Search Accounting Today
What's New at Grant Thornton
May 14, 2012
CEO Stephen Chipman talks about his firm's new brand focus on growth, and its recent M&A activity.
SLIDE SHOW
Top 10 Payroll Mistakes Companies Make
May 14, 2012
Keeping your clients from running afoul of IRS rules around payroll taxes will help them avoid stiff penalties.
Favorite Busy Season Activities
April 10, 2012
LinkedIn Accounting members share the best methods to bust stress and boost morale.
The Best Places to Be an Accountant 2012
March 27, 2012
From our 2012 Regional Leaders list, we rank the best parts of the country to operate an accounting firm.
More Wacky Tax Deductions
March 26, 2012
LinkedIn members point out some weird tax deductions their clients have suggested.

