News & Tips

Proposed regs. reflect amendments to all-events test and advance payments

The IRS is proposing to remove regulations on advance payments and long-term contracts to reflect amendments to Sec. 451 included in the law known as the Tax Cuts and Jobs Act.

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International audit standard addresses estimates

A newly released international auditing standard for auditing accounting estimates and related disclosures is designed to help auditors keep pace with changes in accounting standards for loan provisions and insurance contracts.

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Meals continue to be deductible under new IRS guidance

The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.

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GASB proposes targeted improvements, new concepts

GASB issued separate proposals that are designed to deliver targeted improvements to the financial reporting model and advance new concepts to guide the board in developing standards on recognition in state and local government financial statements.

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IRS issues 2018–2019 per-diem rates

The IRS issued its annual update of the special per-diem rates for business travel away from home from Oct. 1, 2018, through Sept. 30, 2019.

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Rules issued on paid family and medical leave credit

The IRS released guidance on the new Sec. 45S tax credit for employers that provide paid medical and family leave.

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3 factors driving finance transformation

North American CFOs are dealing with rapid technology changes and the need to retrain workers in the quest to continue finance transformation.

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SEC proposes clarifying broker-dealer exemption

The Securities and Exchange Commission proposed an amendment that would correct an error published in 2013 in the exemption provisions in the broker-dealer annual reporting rule.

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News quiz: What’s the latest on accountants’ pay?

See how much you know about the news (or catch up on recent reports) with the quiz.

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Investors trust auditors, but confidence in U.S. markets drops

Investors continue to show a high degree of confidence that public company auditors are looking out for them, according to a new survey.

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