The need to cut the federal budget deficit should be the government’s top economic priority, according to a survey of CPAs.

The Governmental Accounting Standards Board has approved a new standard intended to improve accounting and financial reporting for state and local governments’ combinations and disposals of government operations.

The U.S. Small Business Administration highlighted some of the main tax incentives for small businesses that were extended as part of last week’s fiscal cliff legislation.

The Financial Accounting Standards Board has issued a proposed clarification to a fair value disclosure exemption affecting private companies and nonpublic not-for-profit organizations.

Check out the digital edition of the January 2013 issue of Accounting Today.

An executive summary of our monthly ACI for January 2013

Office relocation, fiscal cliff tax briefing and Hurricane Sandy relief efforts…

Commerce, billing and compensation product maker MetraTech Corp. has partnered with platform-as-a-service accounting product provider VerticaLive to enable customer enrollment, billing and payment management for ISVs and application developers using the VerticaLive Business Framework and for VerticaLive's new SMB-focused cloud accounting product.

Sikich LLP has merged with Achieve Consulting, a supply chain consulting firm based in Warrenville, Ill.

Top 100 Firm, Kahn, Litwin, Renza & Co. Ltd., has agreed to merge with Fay & Associates.

Top 100 Firm, CliftonLarsonAllen LLP has merged with the Racine, Wis.-based CPA firm Jenkins & Vojtisek SC.

Global tax services firm Ryan LLC has acquired the Property Tax Services business from Thomson Reuters for an undisclosed amount.

CBIZ, Inc. has acquired “certain” assets of Diversified Industries, Inc. for an undisclosed amount.

Brad Lusk has been named as the new managing partner at Sisterson & Co. LLP. He succeeds William Troup, who has served as managing partner since 1997.

We have come to realize that it's long past time to question using LIFO to allocate costs first to the cost of goods sold and then inventory.

Regional Leader BeachFleischman PC and Phoenix-based CPA firm Taylor, Duffy & Associates PC have merged, effective January 1.

John Karaffa had the right stats to found ProSport CPA five years ago, an accounting firm that serves professional athletes, as both an athlete and one that played abroad, like many of his clients.

Highlights of the previous month in audit and attest

IT resources and systems aligned with the finance department's needs lead to higher return on capital

Seeking New Year's resolutions -- yours and ours