The IRS issued proposed regulations providing that Sec. 956, which requires an income inclusion by U.S. shareholders of controlled foreign corporations (CFCs) that invest in U.S. property, should not apply to corporate shareholders.
Archives for October 2018
FASB addressed an area of accounting that has long been a concern for private companies Wednesday with the issuance of a standard designed to improve consolidation accounting for private companies. The standard-setting board also amended for all entities the guidance for determining whether a decision-making fee is a variable interest. The changes were published in […]
In an effort to make it easier for companies to make materiality judgments, the International Accounting Standards Board (IASB) on Wednesday issued a clarified definition of “material.” The definition of materiality is a crucial element in accounting because it helps companies decide whether information is important enough to be included in their financial statements. To […]
Brianna Johnson More By This Author “The foundation of the client relationship is in jeopardy.” “How can I build rapport with someone if I’m never face-to-face with them?” “I need to shake someone’s hand to feel related to them.” When we talk about moving toward a more remote service and staffing model and embracing Anytime, […]
Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits report identifies trends in U.S. accounting enrollments and graduates as well as hiring of new graduates in the public accounting sector.
Indian shares clawed back earlier losses to end higher on Wednesday, bolstered by a rally in financial stocks after the country’s government stressed that the Reserve Bank of India has autonomy, calming investors worried about a growing public rift with the central bank.
Stock markets bounced higher on Wednesday, bringing some relief after a brutal October in which equities have suffered one of their worst drops in a decade and spooked investor confidence.
Lupin Ltd, India’s second-largest drugmaker by revenue, posted a 41.5 percent fall in second-quarter profit on Wednesday, hurt by higher expenses.
The AICPA Financial Reporting Executive Committee (FinREC) issued a working draft Tuesday of an accounting issue related to the implementation of FASB’s new standard on accounting for credit losses. FinREC is creating a new AICPA accounting and auditing guide devoted to the current expected credit loss guidance included in FASB Accounting Standards Update No. 2016-13, […]