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.
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.
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.
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.
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.
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.
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.
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.
The AICPA released a decision tool to help privately held businesses determine which accounting framework, including the "Financial Reporting Framework for Small- and Medium-Sized Entities" (FRF for SMEs), best meets their financial reporting needs.
On August 15, the AICPA expressed its opposition to a proposed limitation on the use of the cash method of accounting for non-natural taxpayers, personal service corporations, and farmers that is contained in House Ways and Means Committee Chairman Dave Camp's small business tax reform discussion draft.
Some of the most promising young minds in the CPA profession will have the chance to learn about their own personal leadership style and critical issues facing their field when they participate in the AICPA 2013 Leadership Academy Class.
As a way of giving young members an opportunity to connect with their peers beyond the traditional social networking platforms, the AICPA on August 1 launched an online community for young CPAs – the Young CPA Network.
The AICPA gave its support to Senate Bill 273 and House Bill 2041 that would block a 2010 proposal by the Department of Labor to change its definition of fiduciary under the Employee Retirement Income Security Act to include appraisers of ESOPs.