News

Tax

Tax Forms: The 'Miscellaneous' Strategy

Yes, Schedule A is where itemizers claim deductions for miscellaneous expenses. But Schedule A is also a good place for some sophisticated tax planning—if you know the strict IRS rules.
Tax

Breaker 1-9: Highway Use Tax Returns Due September 2

The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more, which generally includes trucks, truck tractors, and buses. The Labor Day holiday pushed the due date for Form 2290 back two days.
Tax

Koskinen Places Blame for Long IRS Wait Times on Congress

During a speech at the National Society of Accountants' Annual Meeting on Thursday, the head of the IRS said wait times for phone service will increase through the rest of the year because of a lack of staff due to the agency's budget being slashed.
Practice

Can Project Management Be Poetic?

We're not sure if financial project management advice lends itself to poetry, but here's an attempt. Please enjoy this collection of project management verses with our compliments.
A&A

Bramwell’s Lunch Beat: Meet the Treasury’s Inversions Point Man

The menu for August 22 features specials on PCAOB’s struggles with conflicts in audits, settlement forces Bank of America to set aside borrower tax relief, one accountant’s daily routine, and more.
A&A

Study Highlights Corporate Compliance Issues

When it comes to regulatory compliance and other key issues, the vast majority of companies are not operating at their highest financial planning and analysis potential, according to new report.
A&A

FASB Share-Based Payment Rule Gets Mostly Positive Review

However, private company stakeholders told a Financial Accounting Foundation review team that the 2004 accounting standard is sometimes difficult to understand and is costly to apply.
A&A

New SEC Initiative Examines Municipal Advisor Compliance

Launched earlier this week, the examination initiative will enable the SEC Office of Compliance Inspections and Examinations to evaluate whether municipal advisors are complying with new agency rules that went into effect on July 1.
A&A

FASB Gets into the Cloud Game

GAAP addresses accounting principles for cloud service providers, but there is no specific guidance for a customer's accounting of fees paid to the provider. Proposed guidance would change that.
A&A

Bramwell’s Lunch Beat: Quite the Guarantee Offered to Davenport University Accounting Students

The menu for August 21 features specials on ALS Ice Bucket Challenge charitable donations, Bank of America settles, Rep. Paul Ryan backs cut to mortgage tax break, and more.
Tax

A Fair Tax Shake on Quid Pro Quo Contributions

A taxpayer can deduct contributions made to a qualified charity. These donations are typically made "with no strings attached." But what happens when you receive something of value in return?
A&A

PCAOB Seeks Input on Auditing Accounting Estimates, Fair Value Measurements

The US audit regulator on Tuesday issued for public comment a staff consultation paper on possible standard-setting activities related to those areas. Comments are sought by November 3.
Practice

The 6 Myths of Losing Your Clients

Here are six myths many practitioners believe about why clients leave for another professional and how to get them back. A little work now can save you a lot of hassle and expense later.
A&A

Bramwell’s Lunch Beat: Medical Device Tax Revenue Falls Short

The menu for August 20 features specials on Hertz withdraws full-year forecast due to accounting errors and operational challenges, botched forecast cost Walgreen CFO his job, Alaska oil tax repeal ballot measure losing, and more.
Practice

EY Eco-Ambassadors Give Back Globally

For these financial pros, it's not about black and red: it's all about being green, as they apply their skills in the far-flung corners of the world to help the environment and the economy work together.
Practice

Build a Better Crystal Ball: PlanGuru CEO Talks about Forecasting

How are you planning? What tools do you use for forecasting? AccountingWEB recently spoke with PlanGuru CEO Christian Wielage about the hows and whys of business forecasting.
A&A

Bramwell’s Lunch Beat: PCAOB Rule on ID’ing Lead Audit Partner Coming Soon

The menu for August 19 features specials on Treasury prepares inversion options, H&R Block launches small business accounting services, AICPA membership eclipses 400,000 mark, 2014 AICPA Accounting Competition begins, and more.
A&A

Auditing Special Purpose Frameworks: Auditing Accounts Receivable—Part 2

This article will focus on relevant financial statement assertions for accounts receivable and the impact of risk of material misstatement (RMM) on specific auditing procedures.
A&A

PCAOB: Deficiencies Continued in 2013 Broker-Dealer Audits

Seventy-one of 90 broker-dealer audits inspected by the PCAOB in 2013 were found to have audit deficiencies or audit-independence issues, according to a new report released on Monday. Deficiencies were also found in 56 of 60 firms that conducted broker-dealer audits.

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