The Latest

The Illinois CPA Society is now accepting scholarship applications for the 2014-15 academic year from students attending an Illinois college and university while pursuing an accounting degree and planning to become a CPA.

QuickBooks hosting provider Swizznet has added the ability for users to access their data and files via the cloud from any remote public desktop computer or kiosk, such as those found in airport terminals, hotel lobbies, libraries and other common areas.

Cloud accounting software developer Wave released an oft-requested bank reconciliation feature to its entire user base Tuesday after beta testing it for several months with a smaller group of users.

Online accounting software developer Wave has released a bank reconciliation feature to its entire user base.

The Internal Revenue Service’s new commissioner John Koskinen has released a message to taxpayers for this tax season, urging them to use the agency’s Web site and warning of long wait times on the phone.

The Securities and Exchange Commission named Michael F. Maloney as the new chief accountant in the SEC’s Division of Enforcement.

The D.C. Circuit Court of Appeals ruled Tuesday that the IRS had no legal authority to impose a nationwide licensing scheme on tax return preparers that would have required testing and continuing education as Registered Tax Return Preparers.

During 2013, the scene was set for significant changes in financial reporting for private companies and evolved into a battle between standard-setting bodies. All the changes centered on the desire to simplify, and therefore reduce the cost of accounting for private companies. The question is, however, is simpler good enough?

PricewaterhouseCoopers has just joined the rest of the Big Four firms in officially sponsoring the work of the International Valuation Standards Council, which aims to create globally recognized and accepted valuation standards, particularly for financial instruments, and promote quality within the valuation profession.

The Treasury Department and the Internal Revenue Service issued final regulations Monday implementing the employer shared responsibility provisions of the Affordable Care Act, also known as the employer mandate, providing additional time to small and large businesses.