The Latest

The Financial Accounting Standards Board voted Wednesday to reorganize its future agenda to focus more closely on the issues most important to FASB stakeholders, as it anticipates completion of its remaining four convergence projects for harmonizing U.S. GAAP with International Financial Reporting Standards.

Rep. Lloyd Doggett, D-Texas, has introduced legislation to limit tax write-offs for executive bonuses to $1 million per employee.

While President Obama mentioned taxes a number of times in his State of the Union speech last night, the details were scant.

The American Institute of CPAs announced that applications for the Accounting Scholars Leadership Workshop are now being accepted.

The Internal Revenue Service has generally been able to identify potentially improper claims for Small Business Health Care Tax Credits by tax-exempt organizations and subject them to further review, but improvements are still needed to ensure the claims are being caught in time, according to a new government report.

Nearly 80 percent of business executives surveyed last year by Deloitte anticipate that complying with the lease accounting standards that the Financial Accounting Standards Board and the International Accounting Standards Board have been collaborating on will be difficult, with concerns especially high about data quality and information technology systems.

James Walker has joined Cherry Bekaert LLP as a partner in the firm’s tax practice based in Richmond, Virginia. Walker will focus on meeting the taxation and growth needs of closely-held businesses, professional practices and high-net-worth individuals.

The Securities and Exchange Commission and the Justice Department have brought civil and criminal charges against a Chicago accountant who used his wife’s trading account to short-sell shares in the health care information company where he was director of internal audit ahead of the public release of the company’s financial results, earning more than a quarter-million dollars in profits.

AVF Consulting has made a few executive moves, promoting project manager Addie Adelekan to chief operating officer, replacing Robin Carter who is now the full-time chief financial officer while Brad Winslow will head both the implementation and customer support teams.

Track1099 has added several new forms to its 1099-MISC e-filing and e-delivery product, and released a new mobile app.