Accounting
FASB supplements conceptual framework with recognition and derecognition info
The Financial Accounting Standards Board released another chapter Wednesday of its conceptual framework related to the recognition and derecognition of...
Ethanol maker says U.S. ‘green’ jet fuel fate hinges on tax policy
Corn farmers and biofuel producers are poised to gain from turning ethanol into sustainable jet fuel — depending on how...
Hundreds of IRS employees worked for accounting firms
Nearly 500 Internal Revenue Service employees worked at large accounting firms or big companies either before, during or after they...
In the blogs: Storm clouds
ERC questions; rethinking revenue; Ozempic and Wegovy; and other highlights from our favorite tax bloggers.Storm cloudsDon't Mess with Taxes (http://dontmesswithtaxes.typepad.com/):...
PCAOB sanctions Warren Averett over auditor independence for being part of alliance
The Public Company Accounting Oversight Board imposed sanctions for the first time ever against an accounting firm, Warren Averett LLC,...
Tax partners matter more than firms when it comes to corporate taxes
Accounting firms are less important than the individual partner leading the engagement team working on a corporate tax client in...
IRS catch-up delay comes with clarifications
In a brief IRS notice issued at the end of last week, the agency gave older, high-income employees and their...
Small-business job and wage growth flattened in August
The rate of growth for hiring and hourly earnings stabilized this month at small businesses, according to a report released...
Scarcity of accounting talent creates material weaknesses
With year-end accounting requirements on the horizon, Q3 and Q4 are pivotal windows. Audit preparation and SOX controls are top...
IRS processed most Recovery Rebate Credits correctly, but some problem persist
The Internal Revenue Service correctly calculated the allowable Recovery Rebate Credit for the vast majority of 2021 tax returns, but...
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