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The American Institute of CPAs’ Financial Reporting Executive Committee has proposed several working drafts of its guidance on the long-duration insurance accounting standard for insurance companies.January 21
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The two proposals would offer guidance on implementing the Financial Accounting Standards Board’s new standards for long-duration insurance contracts and credit losses.December 31
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Accountants should be engaging more deeply with business owner clients’ succession plans.December 19
Chairman and CEOAmerican Business
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The Financial Accounting Standards Board officially delayed the effective dates of its accounting standards for leases, credit losses, hedging and long-duration insurance contracts by issuing a pair of accounting standards updates.November 15
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The Democratic presidential hopeful rolled out a wide-ranging menu to fund her multi-trillion-dollar Medicare for All plan, a defining moment that fleshes out her vision to remake one-fifth of the U.S. economy.November 1
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Over the last few years, captive insurance has become the tax shelter du jour for accountants and wealth planners looking to find ways to help their small business owner clients reduce their tax exposures. Now the IRS is cracking down on the scheme.October 24
Senior technical editorTax & Accounting Professionals business of Thomson Reuters
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Premium financing can be a powerful tool, but it must be thoughtfully designed, well underwritten and thoroughly understood.September 18
Founder and principalOC Consulting Group
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Up to 200 taxpayers who have been under audit for participating in micro-captive insurance tax schemes are receiving letters from the Internal Revenue Service.September 16
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The proposed update would give insurers an extra year to implement the new rules.August 21
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His analysis underscored how sweeping accounting changes coming in the next few years are raising questions for the life insurance industry.August 19
