Economy

The Institute of Management Accountants has become a member of the International Federation of Accountants, reflecting the growing importance of management accountants in the global economy.

AICPA Scholarship recipients, IECnet Awards and more…

The National Association of State Boards of Accountancy has appointed a new chairman and board of directors for 2013-2014.

The American Institute of CPAs’ Financial Reporting Executive Committee and the AICPA’s Impairment Task Force plan to release the final version of a new AICPA Accounting and Valuation Guide, "Testing Goodwill for Impairment," on Friday.

A bipartisan bill has been introduced in the Senate with the goal of simplifying income tax collections for taxpayers who work in multiple states.

The American Institute of CPAs has written a letter to the Internal Revenue Service identifying 17 areas in which the IRS should provide additional guidance to tax practitioners and taxpayers in the wake of the Supreme Court’s decision ruling section 3 of the Defense of Marriage Act unconstitutional.

The American Institute of CPAs has installed William Balhoff as its new chairman at its Fall Meeting of Council.

The American Institute of CPAs announced the 37 members of the 2013 Leadership Academy graduating class.

At a gala event celebrating its 35th anniversary, the National Conference of CPA Practitioners honored a number of members with awards, including special recognition of three of its founders, and a Lifetime Achievement Award for past president Robert Goldfarb.

Congress, not the Internal Revenue Service, is to blame for the recently announced postponement of the beginning of next year’s tax season, according to the National Association of CPA Practitioners -- and it called on the legislative branch to take quick action to prevent further delays.

The American Institute of CPAs’ Accounting and Review Services Committee has issued an exposure draft proposing three new and revised standards that would make significant changes in how accountants perform compilation engagements.

The International Federation of Accountants has issued a policy paper that stresses the importance of reporting on broad-based information beyond what is traditionally included in financial reporting.

The American Institute of CPAs’ Financial Reporting Executive Committee has submitted a comment letter to the Financial Accounting Standards Board and the International Accounting Standards Board suggesting changes in the latest proposals for lease accounting standards.

Congress should consolidate and simplify the types of tax-favored retirement plans now available to small business owners to minimize the cost and administrative burden imposed by the plans, the American Institute of CPAs told Congress.

Internal auditors, external auditors, board members and financial executives disagree over who has responsibility for deterring and detecting financial statement fraud, according to a new report.

The accounting profession and employers should work more actively to get accountants ready for finance leadership roles such as CFOs, according to a new study.

The development of professional organizations for accountants is seen as a key tool for global, regional and national development, according to a new report.

Firm News: Oct. 3. 2013

The Information Technology Alliance (ITA) has appointed Forepoint Inc. president Kevin Cumley to chairman of the board of directors, while Affinity NFP principal Annette Balgord is now vice chairman.