Accounting Newswatch
FASB issues first ASU of 2020, clarifying equity-related standards
18 Jan 2020 00:24:26 UT
The ASU is based on a consensus of the Emerging Issues Task Force. FASB expects it will reduce diversity in practice and increase comparability in accounting for these transactions.  In...
Warren praises IRS move to expand tax relief for people with discharged student loans
17 Jan 2020 23:16:59 UT
Sen. Elizabeth Warren (Mass.), a Democratic presidential candidate, on Friday praised the IRS and Treasury Department's decision to provide tax relief to more people with discharged student loans....
IRS issues FATCA Relief but not for All
17 Jan 2020 22:09:23 UT
, IRS announced Relief Procedures for Certain Former Citizens .  These are procedures for certain persons who have relinquished, or intend to relinquish, their United States citizenship, who wish to...
IRS to restore some sequestered funds
17 Jan 2020 22:02:42 UT
The IRS will return sequestered funds to businesses that were affected by a recent Office of Management and Budget determination regarding the Balanced Budget and Emergency Deficit Control Act of...
VoicesTransforming accounting partners into marketing advocates
17 Jan 2020 20:35:04 UT
Marketing directors and partners at accounting firms share the same goal: advancing the firm’s brand and helping it achieve specific growth and profitability targets. Yet lurking below their...
International accounting groups call for better sustainable development disclosures
17 Jan 2020 19:20:09 UT
A group of international accounting organizations is calling for improved reporting and action on the UN’s Sustainable Development Goals to hit the ambitious goals set for 2030. The organizations...
3 Ways that Accounting Dashboards Can Benefit You—With 3 Software Examples
17 Jan 2020 18:45:03 UT
Accounting software dashboards visualize key performance indicators (KPIs) and provide a holistic view of business performance—thereby saving time, offering clarity, and improving decision making....
IRS willing to consider requests for relief from double taxation related to repatriation
17 Jan 2020 18:42:52 UT
WASHINGTON — The IRS announced today that the agency has become aware of limited circumstances in which it may be appropriate to provide relief from double taxation resulting from application of the...
FASB's Jeffrey Mechanick Clarifies Impact of Lease Standard on Nonprofits
17 Jan 2020 17:35:00 UT
Jeffrey Mechanick, assistant director of nonpublic entities for the Financial Accounting Standards Board (FASB), speaking at the Foundation for Accounting Education's Nonprofit Conference on Jan. 16,...
IRS Guidance Expands Tax Relief for Discharged Student Loans
17 Jan 2020 17:34:59 UT
The IRS has provided a new safe harbor  for taxpayers whose student loans have been discharged in certain circumstances, allowing them to not count the cancelled debt as part of gross income.  The...

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