AICPA

A&A

Six Business Groups Protest Accrual Accounting Proposal

In a letter sent to the Senate Finance Committee last week, a coalition of six business organizations, including the American Institute of CPAs, emphasized their opposition to a proposal that would force many of the groups’ members to use the accrual method of accounting instead of the cash method of accounting for tax purposes.
Technology

AICPA Calculator Adds Up Twenty Tax Burdens

The American Institute of CPAs has unveiled a new version of its Total Tax Insights calculator just before the start of income tax-filing season. The calculator, which can help taxpayers gauge the impact of twenty different taxes, reflects data applicable in 2013.
A&A

Integrated Reporting Framework Released by the IIRC

The IIRC issued a final framework for integrated reporting in an effort to promote a more cohesive and efficient approach to corporate business reporting as well as to improve the quality of information available to stakeholders.
A&A

AICPA Expresses Concern with Cash Method Limitations in Baucus Proposal

The AICPA has sent a letter to the chairman and ranking member of the Senate Committee on Finance opposing any limitation on the use of the cash method of accounting on natural persons, pass-through entities, personal service corporations, and farmers.
Tax

AICPA Proposes Quick Disaster Relief for Taxpayers

The federal tax law provides relief to victims of natural disasters, but taxpayers generally have to wait until the government works its way through a lengthy process for each specific event. Now, the AICPA has proposed a faster solution.
Education & Careers

AICPA John Carey Scholars to Bring Unique Perspective to Field

The John L. Carey Scholarship is a one-year, $5,000 scholarship specifically designed to assist students who have decided to make the transition from liberal arts and other nontraditional business backgrounds to pursue graduate accounting degrees and become CPAs.
Tax

AICPA Asks IRS to Plan Ahead for Another Shutdown

In a media briefing held on November 8, high-ranking officials of the AICPA urged the IRS to develop and publicize a contingency plan in the event the government shuts down again January 16.
A&A

Survey Finds Friends Determine Millennials' Financial Habits

When it comes to determining their financial habits, a new survey suggests Millennials are still relying on the oldest network in the world to guide their decisions: their friends.
Tax

AICPA Briefs Media on Three Pressing Tax Issues

On November 15, the AICPA held a conference call with various members of the media, including AccountingWEB. The briefing focused on three critical areas.
A&A

New AICPA Guide Focuses on Goodwill Impairment Testing

A new guide released on November 8 by the Financial Reporting Executive Committee of the AICPA provides accountants, auditors, and valuation specialists with guidance for impairment testing of goodwill.
A&A

AICPA Calls on the Senate to Support Digital Accountability and Transparency Act

In a letter to US senators Tom Carper and Tom Coburn, the AICPA encouraged the Senate's support of legislation that would include a provision calling for the establishment of government-wide financial data standards for federal funds.
Tax

AICPA Says IRS Needs to Issue Additional DOMA Guidance

The AICPA identified seventeen areas in which the IRS should provide additional guidance to taxpayers and tax practitioners as a result of the US Supreme Court's decision that Section 3 of DOMA was unconstitutional.
A&A

Bill Balhoff Has Been Elected Chairman of AICPA

William E. Balhoff is the new chairman of the Board of Directors of the American Institute of CPAs (AICPA), the world's largest member organization representing the accounting profession.
A&A

Former US Senator and Florida Governor Bob Graham Receives AICPA Medal of Honor

The AICPA announced Bob Graham, former US Senator and former Florida Governor, as the recipient of the AICPA Medal of Honor. Graham was presented the award by AICPA Chairman Richard Caturano, CPA, CGMA.
A&A

SEC Exempts Accountants from Municipal Advisor Registration

The SEC adopted rules establishing a permanent registration regime for municipal advisors as required by Dodd-Frank; however, an accountant who provides audit or other attestation services will not have to register as a municipal advisor.
Tax

AICPA Creates Q&A Page to Help Practitioners During Shutdown

The American Institute of CPAs (AICPA) has created a questions-and-answers page on the tax section portion of its website to help practitioners working to complete tax returns during the federal government shutdown.
Education & Careers

AICPA Awards Legacy Scholarships to 117 Students

Scholarships totaling more than $370,000 will be awarded to 117 undergraduate and graduate students through the AICPA Legacy Scholars program, the AICPA announced on September 12.
A&A

AICPA Economic Outlook Survey: CPA Execs More Optimistic about Hiring

Despite optimism in the US economy dropping 4 percentage points in the third quarter of 2013, business executives continue to raise their expectations for hiring in the coming year, as the number of companies that plan to add new employees increased by 3 percent.
Tax

AICPA to Congress: Provide IRS with Sufficient Funds

In a letter sent to Congress on September 4, the American Institute of CPAs (AICPA) urged lawmakers to provide the IRS with "sufficient" funds to perform its duties.
Tax

AICPA Nixes Proposed Tax Reforms for Pass-through Entities

The more Congress tries to simplify the tax code, the more complicated things seem to get. At least that's what the American Institute of CPAs (AICPA) believes about a proposal to consolidate the myriad of tax rules for pass-through entities.

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