The Latest

One of the drawbacks of having International Financial Reporting Standards could be that they might mean different things in different languages.

BlumShapiro has partnered with corporate performance management(CPM) software provider Tagetik to make CPM support services available to their client base across the United States.

— The Financial Accounting Standards Board has released a staff document that provides answers to questions about FASB’s recently issued proposal on expected credit losses.

U.S. privately held companies saw their sales grow approximately 9.7 percent in February, according to the financial information company Sageworks.

I’m not sure who’s with me on this, but as a progressive accountant who wants to operate within a high-tech environment, I often feel isolated in my desire to transition to a cloud/mobile/social workspace

Mike Sabbatis, the former president and chief executive of CCH Tax and Accounting, North America, has joined the board of cloud-based workflow automation service XCM Solutions.

The National Association of Certified Valuators and Analysts plans to merge its Accredited Valuation Analyst credential into the Certified Valuation Analyst credential, effective April 1.

John Gosch has joined Prager Metis International LLC as partner.

The U.S. has asked Liechtenstein to hand over data on foundations that may have been used to hide untaxed American money from the Internal Revenue Service, a step that may threaten Swiss banks.

Back in 1925, a taxpayer won the first case in the Board of Tax Appeals involving the deduction for horse-breeding activity expenses. Deducting expenses related to the “sport of kings” was so attractive that the estate of Cornelius Vanderbilt tried, and lost, two years later. In the intervening 88 years, about 200 taxpayers have litigated the issue, most with unattractive results. The IRS and the courts have essentially told taxpayers to “stop horsing around.”