Bank regulators have completed a rule that will allow banks to phase in the capital effect of the new credit losses accounting standard over a period of three years. This article summarizes what’s changing under the updated standard…

Public company auditors have been conducting test runs to help them add critical audit matters (CAMs) to the auditor’s report. This article explains the new Public Company Accounting Oversight Board (PCAOB) requirement…

The AICPA is taking steps to enhance the consistency of financial reporting between public and private companies. This article discusses a new omnibus auditing standard that will cover standards on related parties…

Tax season is just around the corner and it’s that time again to start preparations for your 2018 filing. Working directly with an accountant to help file your taxes is a great way to stay organized while ensuring you meet all federal and…

A Qualified Opportunity Fund (QOF) is an entity formed to invest in qualified opportunity zone property. These “Opportunity Zones” are designated by the state with the purpose of incentivizing investment via QOFs to…

The FASB continues to monitor how companies and their auditors are tackling the financial reporting ramifications of the major new provisions of the Tax Cuts and Jobs Act (TCJA). This article highlights major TCJA…

The FASB is in the early stages of a project to develop guidance for performance reporting. The goal is to make it easier for investors and securities analysts to understand from reading a company’s financial statements…