The Latest

The Financial Accounting Standards Board has endorsed three proposals from the Private Company Council that would simplify the accounting for privately held companies.

Late last month, the Justice Department shut down Liberty Reserve, a company that facilitated international money laundering by using digital currency to transmit funds.

The American Institute of CPAs has released its much-anticipated Financial Reporting Framework for Small- and Medium-Sized Entities, which is aimed at providing an alternative reporting option for small businesses that aren’t required to use GAAP.

In 2007, I was a few years into my current position as PwC’s leader for U.S. government, regulatory affairs and public policy. My job was challenging and intense, and simultaneously, my new husband was serving as deputy chief of staff to President George W. Bush, which was a great honor, an amazing opportunity and a round-the-clock commitment.

The Internal Revenue Service said in an email to tax professionals Friday that it plans to retire and remove its Disclosure Authorization and Electronic Account Resolution applications from its online eServices on August 11, largely because of low usage and budget cuts.

Bob Moritz, chairman of PricewaterhouseCoopers LLP since July 2009, sat down with Accounting Today on Friday to discuss some of the issues facing the accounting profession and how PwC has been adapting to changes in the economy and accounting, as well as his encounter with Michelle Obama when handing her the envelope for the Academy Awards.

BlumShapiro volunteers recently served as teachers in a West Hartford, Conn., elementary school classroom as part of the JA in a Day program, which uses Junior Achievement curriculum to educate students on work readiness, entrepreneurship and financial literacy.

Mergers, manufacturing integrations, and partnerships were abound this week plus my take on what to expect at the upcoming AICPA Tech + Symposium.

The House Ways and Means Committee plans to hold a hearing next Thursday on the use of tax havens by multinational corporations to shift their profits.

The unemployment rate rose a tenth of a percentage point to 7.6 percent in May as employers added 175,000 jobs, according to the Bureau of Labor Statistics.