On December 23, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards update No. 2014-18, Accounting for Identifiable Intangible Assets in a Business Combination. Previous U.S. GAAP regulations mandated that the acquirer of a business must identify and. Read More >>

After nearly 13 years of work, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) issued their converged standard on revenue recognition on May 28.  The objective of the new revenue standard is to provide a. Read More >>

The Internal Revenue Service (IRS or Service) recently issued guidance on how qualified retirement plans must treat the marriages of same-sex couples. The notice provides an effective date and retroactive effect for implementing the Windsor decision as well as. Read More >>

The AICPA Issues the Financial Reporting Framework for Small- and Medium-Sized Entities In June 2013, the American Institute of CPAs issued the Financial Reporting Framework for Small- and Medium- Sized Entities (FRF for SMEs), a new option for businesses. Read More >>

Relief, at long last!  On March 20, the Financial Accounting Standards Board (FASB) issued long-sought relief to private companies from a rule that required them to consolidate separate companies under common control when one of the companies leases from. Read More >>

The Internal Revenue Service (IRS) recently published final regulations regarding the reduction or suspension of safe harbor contributions to 401(k) and 403(b) plans under the Internal Revenue Code (Code). These regulations revise and supersede the proposed regulations that were. Read More >>

In March 2011, we advised that the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) were considering dramatic changes to the accounting rules for leases exposure draft issued in August 2010, after significant concerns were. Read More >>