The newly inaugurated chairman of the California Society of CPAs hopes to strengthen the relationship between CalCPA and California accounting firms.

The average salary and total compensation for management accountants reached their highest levels last year, the Institute of Management Accountants reported, after accounting salaries saw a decline in 2011 for the first time in 23 years.

A group of lawmakers from the tax-writing House Ways and Means Committee have written a letter to Treasury Secretary Jack Lew urging the Internal Revenue Service to back off of a proposed rule change modifying the retail inventory method of accounting, which retailers fear could cost them millions of dollars a year.

The Institute of Cost Accountants of India has opened an office in Washington, D.C., its ninth overseas center.

The Governmental Accounting Standards Board has issued for public comment a proposed concepts statement that would guide GASB when establishing standards regarding the measurement of assets and liabilities for U.S. state and local governments.

The International Accounting Standards Board has issued a revised exposure draft containing proposals for changing the accounting for insurance contracts.

The Securities and Exchange Commission has charged a China-based company and its CEO with fraudulently misleading investors about its financial condition by touting cash balances that were millions of dollars higher than actual amounts.

The House Financial Services Committee has unanimously passed legislation prohibiting the Public Company Accounting Oversight Board from mandating the automatic rotation of a public company’s independent external auditor.

The European Commission has extended its cooperation agreement with the Public Company Accounting Oversight Board, allowing the PCAOB to continue exchanging confidential information with European audit regulators.

Hiring for accounting graduates is at a record level, according to a new study by the American Institute of CPAs, which also found the number of accounting graduates and enrollments in accounting education programs continuing their upward trend and reaching historic levels.

The accounting profession was slightly more optimistic this month than last, according to the June edition of Accounting Today’s monthly Accountants Confidence Index.

As G8 leaders met in Northern Ireland for a summit focused on increasing financial transparency and tax information exchange, 150 business leaders and investors also gathered in Germany to advance a market-led solution to financial transparency.

Cloud accounting and small business finance tool maker Wave has added the Payroll Tax Service for in 10 U.S. states with more coming later in the year.

The current accounting rules for accounting for loan losses were in part responsible for the failures of community banks in the wake of the financial crisis, according to a new report by the Government Accountability Office.

American Institute of CPAs president and CEO Barry Melancon has written to the leaders of the state CPA societies in response to an announcement from the National Association of State Boards of Accountancy urging private companies not to use the AICPA’s recently unveiled Financial Reporting Framework for Small and Medium-sized Entities.

Surveys, office relocation and more...

The National Association of State Boards of Accountancy has advised private companies not to use the American Institute of CPAs’ recently released Financial Reporting Framework for Small and Medium-sized Entities.

The International Integrated Reporting Council has signed a memorandum of understanding with the World Intellectual Capital Initiative to ensure that "intellectual capital" is reflected as a crucial and essential source of an organization's value creation within integrated reporting.

The Financial Accounting Standards Board voted Wednesday to indefinitely defer certain disclosures about investments held by a nonpublic employee benefit plan in its plan sponsor’s own nonpublic equity securities.

The American Institute of CPAs and the Institute of Chartered Accountants in England and Wales are urging the Financial Accounting Standards Board to reconsider two separate elements of FASB’s financial instruments convergence project with the International Accounting Standards Board.