Accountants daily news

Here are some recent news articles and updates from the accounting profession:

Headlines

  1. FASB Proposes Changes to Accounting for Credit Losses: The Financial Accounting Standards Board (FASB) has proposed changes to the accounting for credit losses, which could affect the way companies account for bad debts and loan losses. (Source: Journal of Accountancy)
  2. IRS Issues Guidance on Tax Treatment of Cryptocurrencies: The Internal Revenue Service (IRS) has issued guidance on the tax treatment of cryptocurrencies, such as Bitcoin, stating that they are considered property, not currency. (Source: Accounting Today)
  3. SEC Proposes Rules for Disclosure of Climate Change Risks: The Securities and Exchange Commission (SEC) has proposed rules requiring publicly traded companies to disclose their climate change risks and greenhouse gas emissions. (Source: Bloomberg Law)
  4. AICPA Launches New Certification for Cybersecurity Accountants: The American Institute of Certified Public Accountants (AICPA) has launched a new certification for accountants who specialize in cybersecurity, the Certified Information Systems Auditor (CISA). (Source: Accounting Today)
  5. GAAP vs. IFRS: A Comparison of Accounting Standards: A recent article compares and contrasts the Generally Accepted Accounting Principles (GAAP) used in the United States with the International Financial Reporting Standards (IFRS) used globally. (Source: Financial Executives International)

Industry News

  1. Big Four Firms Report Strong Revenue Growth: The Big Four accounting firms - Deloitte, EY, KPMG, and PwC - have reported strong revenue growth in their latest financial results, driven by demand for audit, tax, and advisory services. (Source: Accounting Today)
  2. Cloud Accounting Firm Xero Acquires Accounting Software Firm: Xero, a cloud-based accounting firm, has acquired Accounting Software Firm, a provider of accounting and bookkeeping software. (Source: ZDNet)
  3. New Accounting Firm Launches with Focus on Sustainability: A new accounting firm, Greenleaf Accounting, has launched with a focus on sustainability and environmental accounting. (Source: Accounting Today)

Regulatory Updates

  1. SEC Proposes Rules for Disclosure of Conflicts of Interest: The SEC has proposed rules requiring publicly traded companies to disclose conflicts of interest and related-party transactions. (Source: Bloomberg Law)
  2. IRS Issues Guidance on Tax Treatment of Remote Work Expenses: The IRS has issued guidance on the tax treatment of remote work expenses, stating that employees can deduct expenses related to working from home. (Source: Accounting Today)
  3. FASB Proposes Changes to Accounting for Leases: The FASB has proposed changes to the accounting for leases, which could affect the way companies account for lease agreements. (Source: Journal of Accountancy)

Professional Development

  1. AICPA Launches New Online Course on Blockchain Accounting: The AICPA has launched a new online course on blockchain accounting, designed to help accountants understand the basics of blockchain technology and its applications in accounting. (Source: Accounting Today)
  2. CPA Exam Changes: What You Need to Know: The AICPA has announced changes to the CPA exam, including new content areas and a revised format. (Source: Accounting Today)
  3. Accounting Firm Partners with University to Offer Master's Program: An accounting firm has partnered with a university to offer a master's program in accounting, designed to provide students with practical experience and skills. (Source: Accounting Today)

I hope you find these news articles and updates helpful!