FASB Publishes Year Delay on Leases, Revenue Accounting Standards
By Denise Lugo The FASB on June 3, 2020, published a new accounting standard that grants a one-year delay on …
Temporary Relief from Physical Rule for Retirement Plan Participant Elections
The IRS has provided participants, beneficiaries, and administrators of qualified retirement plans and other tax-favored retirement arrangements with temporary relief …
Relax, Investors; There is No ‘EBITDAC’ Pandemic
By Soyoung Ho Is “EBITDAC”—short for earnings before interest, taxes, depreciation, amortization, and coronavirus—a thing that investors now have to …
State Securities Regulators Ask Congress for Private Market Reforms, SEC Rulemaking Pause
By Bill Flook The president of the North American Securities Administrators Association (NASAA) on May 26, 2020, urged lawmakers to …
AICPA Board Votes to Finalize Standards on Audit Evidence and Auditing Estimates
By Soyoung Ho The AICPA’s Auditing Standards Board (ASB) voted to finalize two proposed auditing standards on audit evidence and …
GOP Bill Seeks New Disclosure for U.S.-Listed Chinese Companies
By Bill Flook Rep. Ann Wagner, a Missouri Republican, on May 22, 2020, introduced legislation that would impose a host …
IRS Taking Steps to Increase Operations
On the IRS website, the IRS Commissioner has explained that the IRS anticipates bringing more people back into its campuses …
FASB to Publish Delays on Revenue, Lease Accounting for Private Companies Early June
By Denise Lugo The FASB on May 20, 2020, voted to extend a proposed year delay for revenue rules beyond …
Divided SEC Scales Back Disclosure for Business Combination
By Soyoung Ho The SEC on May 21, 2020, said it has voted to scale back corporate disclosure requirements in …
New Economic Impact Payment FAQs Include Answer About Prepaid Debit Cards
IRS has provided additional information, in the form of FAQs, about economic impact payments under the CARES Act. One FAQ …