A&A news

A&A

Can Software Really Replace Accountants?

Changes are on the horizon that could empower accounting software users to the point when they don't need accountants any longer, and reduce the process to a turnkey program.
A&A

Bramwell’s Lunch Beat: Canada Finds FATCA Costs Them

The menu for July 28 features still more on the inversion argument, an analysis of why Canadian banks are unhappy with FATCA, Congress-White House disagreement on child care credits, banking regulations, and more.
A&A

Bramwell’s Lunch Beat: Obama on Inversions: ‘I Don’t Care If It’s Legal, It’s Wrong’

The menu for July 25 features specials on House approves bill to expand and simplify tax breaks for education, IRS releases draft forms on Obamacare employer mandate, Paul Ryan’s plan to expand the EITC, and more.
A&A

FASB Unveils ‘More Visual’ Technical Agenda Web Page

The updated web page groups the standard-setting board's technical agenda into project “families” and informs visitors at a glance on where any given FASB project stands, the steps it took to get there, and what is coming up.
A&A

Bramwell’s Lunch Beat: No Convergence for Accounting Rules on Financial Instruments

The menu for July 24 features specials on SEC approves final rules on money-market funds, GAO says it’s too soon to draw conclusions on Obamacare tax credit fraud, IRS no longer probing missing emails, Senate to vote on phasing out gas tax, and more.
A&A

Auditing Special Purpose Frameworks: Tests of Balances

Risk assessment procedures, tests of controls, systems walk-through procedures, analytical procedures and tests-of-balances procedures produce substantive evidence for an auditor.
A&A

Bramwell’s Lunch Beat: California Soda Tax Measures – Whose Is Better?

The menu for July 23 features specials on FASB looks at revamping income statement, two courts issue conflicting rulings on Obamacare subsidies, Senate advances bill to end tax breaks for outsourcing, and more.
A&A

Big Data Cited as Top Issue for Some CPAs

Accountants who specialize in forensic and valuation services point to electronic data analysis, or big data, as the most pressing issue they’ll face in the coming months, according to results of a new survey released on Tuesday by the AICPA.
A&A

Bramwell’s Lunch Beat: ACA Tax Subsidies Take Major Hit in Federal Appeals Court

The menu for July 22 features specials on Renaissance hedge fund escaped more than $6 billion in taxes, Lois Lerner’s emails may exist after all, Senate Finance Committee holds hearing on inversions, and more.
A&A

CPAs Call for More Financial Literacy Education After U.S. Students Disappoint on OECD Test

Your teen may be tech-savvy enough to help you stream episodes of “Game of Thrones,” but chances are you can’t expect them to display the same level of sophistication when it comes to understanding even the most basic financial concepts, according to a recent financial literacy survey.
A&A

PCAOB Reaches Deal with Denmark’s Audit Regulator

The US audit regulator's agreement with the Danish Business Authority, which was announced on July 18 and takes effect immediately, provides a framework for joint inspections and allows for the exchange of confidential information under the provisions of the Dodd-Frank Act.
A&A

Bramwell’s Lunch Beat: Detroit CPA Firms Give Top Prospects the ‘Detroit Experience’

The menu for July 21 features specials on some liberal groups oppose moratorium on Internet access taxes, lawmakers urge SEC not to allow choice of accounting rules, Tea Party groups’ lawsuit vs. IRS moves ahead, and more.
A&A

Bramwell’s Lunch Beat: DOJ Says It Learned of Lost IRS Emails Through Media Reports

The menu for July 18 features specials on House extends charitable giving tax breaks, a potential divide between two House panels in IRS probe, AbbVie gets its wish of a lower tax rate, and more.
A&A

FASB OKs New Rules on Consolidations

New accounting guidance intended to increase transparency and consistency of financial reporting about consolidations was agreed upon by members of the standard-setting board on Wednesday. The final standard will be released in the coming months.
A&A

Bramwell’s Lunch Beat: IRS Budget Cuts Run Deep in US House

The menu for July 17 features specials on revenue recognition group holds first meeting on Friday, DOJ now investigating lost IRS emails, White House threatens veto on charitable giving tax breaks, SEC chair remarks on 4th anniversary of Dodd-Frank Act, and more.
A&A

Auditing Special Purpose Frameworks: Analytical Procedures

When more substantive evidence is obtained from risk assessment and analytical procedures, less evidence is required from more costly tests of balances procedures. See our examples of analytical procedures.
A&A

Bramwell’s Lunch Beat: Obama Administration Is Tired of Inversions

The menu for July 16 features specials on House passes short-term highway fund fix, US inspection of Chinese audit firms may happen this year, Senate has other plans for Internet Tax Freedom Act, Crowe Horwath names new CEO, and more.
A&A

FRF for SMEs Series--Measurement and Disclosure Principles for various Consolidations and Business Combinations, Part 4B

This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
A&A

FASB Wants to Wipe Out Requirements for Extraordinary Items

As part of a new initiative to make US accounting rules less complex, the standard-setting board on Tuesday also proposed new guidance that would simplify the measurement of inventory.
A&A

Bramwell’s Lunch Beat: Mylan/Abbott Labs’ ‘Spinversion’ Deal

The menu for July 15 features specials on EY to pay $4 million fine in lobbying case, House backs cuts to IRS budget, NASCAR tracks lobby for tax cuts, Citigroup to get a tax break as part of settlement, and more.

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