Audit firms have invested heavily in artificial intelligence (AI) in recent years, with media outlets reporting billions of ...

Should CPA students no longer have to learn the basics of government accounting? According to a new AICPA exposure draft, Maintaining the Relevance of the Uniform CPA Examination, “Given the ...

This month’s column highlights the principal effects of FASB’s Accounting Standards Update (ASU) 2015-11, Simplifying the Measurement of Inventory. While the standard’s primary impact has been felt by ...

IN BRIEF Audit planning is one of the most complex but critical stages of the audit process. This leads auditors to look for ...

“Our Greatest Hits” is an effort to show our readers the most popular – and still avidly read – articles from our archives. This article originally appeared in our February 1992 Issue. Abstract – ...

A recent case serves as a convenient reminder for 2020 tax return elections. In Gurpreet S. Padda, et al. v. Comm’r (TCM 2020-154), a physician met the test for significant participation activities ...

The US Securities and Exchange Commission is currently evaluating aspects of the public company reporting framework, ...

Estimating the fair value of a nonmarketable financial instrument, or one that is restricted from sale, is conceptually challenging. Even though it could take significant time and effort to transact ...

The securitization of trade receivables is a multibillion-dollar sector, and it is growing. It is vitally important that U.S. GAAP correctly reflect the economics of these transactions. This article ...

Joint ventures have been a popular vehicle for businesses to work together to share competencies and knowledge to reach a mutually beneficial outcome. To resolve the diversity in practice for the ...

CPAs need to be aware of current tax developments in key states to properly advise taxpayers doing business in multiple jurisdictions. It is crucial to regularly monitor developments in surrounding ...

As early as 2006, the IRS has recognized that “foreign outsourcing is not prohibited by … final regulations, which permit disclosure of tax return information outside of the United States if the ...