The Financial Accounting Standards proposed some minor adjustments Thursday to the credit losses standard, also known as CECL because of its use of a Current Expected Credit Losses model.

Tongaat Hulett Ltd. said South African police are investigating an unnamed former executive for his role in an accounting scandal that’s forced the sugar maker to restate financials and ask for its shares to be suspended.

The case has applicability to all administrative agencies, including the IRS, and their ability to issue authoritative regulations and guidance.

The International Accounting Standards Board has some amendments to the standard after hearing complaints from insurers.

Nearly 400 companies transitioned to ASC 842 within the first six months of the effective date.

For the accountant who is filing a Form 5500 for a self-employed individual, it may be the job of the accountant to report beneficiary information.

The debate about the cap on federal deductions for state and local taxes has flipped the tables for lawmakers.

The board is looking for public companies to take part in a study focusing on potential improvements to the segment disclosure requirements.

Taxpayers wishing to participate for any calendar 2018 capital gains must act quickly.

The timeline is fluid, however, and could stretch on for months.

The House Ways and Means Committee unanimously approved a bill to allow same-sex couples who married before the Defense of Marriage Act was struck down by the Supreme Court to claim tax refunds.

Many audit teams are neglecting to implement new technologies that could reduce the time needed for SOX audit requirements.

A U.S. House committee approved a package of bills that provide tax breaks for a variety of select industries and constituencies, kicking off what’s likely to be a protracted negotiation with Senate Republicans over whether and how to pay for them.

The chief pointed to his own history as a tax attorney, while reminding tax pros that the IRS is watching from the compliance and enforcement side.

Howitt led the group that has promoted integrated reporting for three years and promulgated the model worldwide.

The Treasury Department has narrowed the reach of a new tax aimed at technology and pharmaceutical companies with overseas income, wiping out an unintended consequence of President Donald Trump’s 2017 tax overhaul.

Data has always been the cornerstone of an accurate and compliant allowance for loan and lease losses (ALLL), and it will remain critical under the current expected credit loss model, or CECL.

Democratic presidential candidates like Joe Biden and Kamala Harris have talked about repealing the GOP’s tax overhaul. Yet a large-scale rollback is unlikely. Instead, two other forces could slowly unravel the law — Democrats currently in power in the House and President Donald Trump’s trade policies.

Congress is considering plenty of bills -- how many will be passed is another question.

Multinational corporations got some long-awaited clarity from the IRS, which issued new rules on Friday clarifying how they must compute a new international tax.