News

A&A

Revenue Recognition Transition Group to Convene Next Month

The group will be tasked with informing the FASB and the IASB about potential implementation issues that could arise when companies and organizations implement the new accounting standard.
A&A

Scott London’s Golf Buddy, Bryan Shaw, Gets 5 Months in Jail

The Los Angeles-area jeweler, who was sentenced on Monday, received confidential client information and stock tips from London that helped him make at least $1.6 million in illicit profits over a two-year period.
Tax

Short Sales Lead to Unexpected Tax Hardships

Going through a short sale is hard enough, both financially and psychologically. And the expiration of a special provision may mean a huge tax bill for those who can least afford it.
A&A

Bramwell’s Lunch Beat: Big Four in China Talk Settlement with SEC

The menu for June 3 features specials on KPMG standing by Phil Mickelson, rankings of top audit firms in China, IBM avoiding accounting penalty from SEC, new buzz phrase in audit failures, and more.
Education & Careers

Working in Management: The Other Accounting Profession

An interview with IMA CEO Jeffrey Thomson reveals how different management accounting is from working in a firm. And why there are so few capable of stepping up.
Tax

Reports: 77,000 Banks Are Complying with US on FATCA

The list of companies that have registered with the United States includes 515 Russian financial institutions, plus more than 500 US businesses, such as Citibank NA and JPMorgan Chase & Co.
A&A

Lawmakers Oppose Proposed Changes to Accounting Method

In a letter last week, a bipartisan group of more than 110 House legislators urged Ways and Means Committee Chairman Dave Camp not to repeal the last in, first out inventory accounting measure in his tax reform plan.
Tax

How to Deduct Home Entertainment Expenses

Do you entertain clients at home? You may be blurring the lines between business and pleasure, but the IRS isn't. Here's how to avoid deduction problems by learning the IRS rules.
A&A

Bramwell’s Lunch Beat: Would KPMG Bail On Phil Mickelson?

The menu for June 2 features specials on how taxes could curb consumption of sugary drinks, tax question looms over Illinois governor’s race, roads – not gas – should be taxed, Donald Sterling’s huge tax bill, and more.
Education & Careers

What an Experienced Accountant Can Tell a Newbie

There are seven things I would tell my younger self. We can't go back in time, but we can pass our wisdom on to the next generation of accountants. Reflect on what's important.
A&A

Deal with Rothstein Kass Makes KPMG US Hedge Fund Leader

KPMG officials said the acquisition, which will be finalized in the coming weeks, will boost the Big Four firm’s presence in the alternative investments industry and capital markets, including hedge funds.
Tax

IRS to Revise Regs for Tax-Exempt Groups on the QT

In response to public outcry, the nation's tax collection agency announced that it would revise proposed regs governing political activities of Section 501(c)(4) organizations.
A&A

Bramwell’s Lunch Beat: Bonus Depreciation Gets House Backing

The menu for May 30 features specials on Hong Kong’s concern over auditing ban proposal, California lawmakers pass film and TV tax credit bill, Moss Adams helps Washington mudslide victims, and more.
Practice

AAM Marketing Ideas: The Firm Scorecard

Competition today is tougher, expectations are higher, and costs are increasing. To sustain growth and profitability, firms need to put an easy-to-use scorecard in place. Uncover what needs to be done and measured at your firm.
Education & Careers

Individual Leadership: Networking and Connecting with Your Profession

In this final session of a four-part series on Individual Leadership, we will look at networking and discover a more empowering way to relate to it: connection.
A&A

FRF for SMEs Series—Statement of Operations, Part 1

This presentation will discuss the presentation of a statement of operations for the FRF for SMEs. This webcast will focus on accounting policies for revenue recognition and certain expenses.
Tax

Some Suspended or Disbarred Tax Pros Reinstated by the IRS

Recent court rulings that now prevent the IRS from regulating paid preparers have resulted in some suspended or disbarred tax practitioners being able to obtain or renew PTINs and prepare federal tax returns again for compensation.
Practice

Don't Get Caught in an EEOC Discrimination Nightmare

Whether accountants are firm owners, business executives, or just employees, a little knowledge of the EEOC can save money and avoid legal proceedings.
A&A

FASB, IASB to Hold Revenue Recognition Webcast on June 5

The one-hour broadcast will provide an overview of the new accounting rule, as well as information on such topics as recognizing revenue over time, contract costs, disclosures, transition, and effective date.

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