Economy

The Financial Accounting Standards Board has issued FASB Statement No. 162, "The Hierarchy of Generally Accepted Accounting Principles," intended as a replacement for the American Institute of CPAs' GAAP hierarchy.

The American Institute of CPAs has issued a draft proposal outlining new content and skill specifications it wants to include in the Uniform CPA Examination, including a greater focus on ethics.

More than 64,000 students graduated with bachelor's and master's degrees in accounting in the 2006-2007 school year, the largest number of accounting graduates in at least 36 years, according to a report by the American Institute of CPAs.

“The problem is variously termed as silo thinking, silo vision, silo mentality, or the silo effect. This is evident when directors, departments, managers, teams or staff may be high performers individually, but fail to choreograph their activities to create peak performance for the organization.”

The American Institute of CPAs has begun publicizing the revised set of peer review standards it quietly issued earlier this year.

The American Institute of CPAs found a range of responses when it surveyed Americans on how they intend to use their tax rebates.

Fed Cuts Rate to 2 Percent

While U.S. and international accounting standards seem set on an inevitable convergence path, some are worried that the U.S. approach may end up becoming a bad influence on International Financial Reporting Standards.

Financial planning and advisory services have helped fuel an increase in revenues at CPA firms, according to a new study by the American Institute of CPAs and Moss Adams.

The American Institute of CPAs and the National Association of State Boards of Accountancy have renewed a trilateral mutual recognition agreement with professional accounting bodies in Canada and Mexico.

James K. Smith, chief financial officer of Phonom Corp., and James Stevenson, CFO of ABS Capital Partners, have joined the Private Company Financial Reporting Committee.

People are cutting back on their spending to save money as the U.S. economy slows, according to a survey by Harris Interactive for the American Institute of CPAs.

The Private Company Financial Reporting Committee, a joint effort of the Financial Accounting Standards Board and the American Institute of CPAs, is set to meet later this month.

PCAOB to Consider New Ethics and Independence Rule

CPAs who conduct valuations in the normal course of their practices are now required to comply with detailed standards.

CPAs who conduct valuations in the normal course of their practices are now required to comply with detailed standards.

CPAs who conduct valuations in the normal course of their practices are now required to comply with detailed standards.

New York — The American Institute of CPAs has ramped up its mobility efforts to allow CPAs to practice in other states, with mobility bills enacted now in 12 states and legislation pending in 22 other states.

CPAs who conduct valuations in the normal course of their practices are now required to comply with detailed standards.

The American Institute of CPAs submitted written testimony to Congress for a hearing by the House Small Business Committee on modernizing the Tax Code for small businesses. The House Small Business Committee issued a report containing seven recommendations for improving the Tax Code in conjunction with the hearings. The recommendations included simplifying the home office deduction, updating the equipment deduction limits and record-keeping requirements, adjusting the business automobile depreciation limits and shortening depreciation schedules.