32+ min ago  (385+ words) The Financial Accounting Standards Board added a project to its technical agenda to allow insurance companies to use the "portfolio layer method" when doing hedge accounting on their financial liabilities. The project would extend the PLM to liabilities to better…...

32+ min ago  (316+ words) The Public Company Accounting Oversight Board published today its annual Conversations with Audit Committee Chairs report, which gathered responses from over 250 audit committee chairs." The report found that while chairs acknowledge the potential of AI to increase efficiency and quality,…...

1+ hour, 14+ min ago  (310+ words) The AICPA and CIMA announced the launch of its new "AI Skills Accelerator," an intensive multi-course program for accounting and finance professionals that provides a wide breadth of materials to build skills with artificial intelligence and better understand the mindset…...

6+ hour, 28+ min ago  (561+ words) The Internal Revenue Service is offering taxpayers a new option to request more time for the IRS and its Independent Office of Appeals to review a taxpayer's response to a disallowance of an Employee Retention Credit claim and avoid protracted…...

2+ hour, 28+ min ago  (666+ words) The House Appropriations Committee approved further budget cuts for the Internal Revenue Service, expanding the use of artificial intelligence and data analytics to handle enforcement along with a restructuring effort that aims for greater efficiencies, while rejecting Democrats' efforts to…...

6+ hour, 7+ min ago  (1058+ words) Many accounting firms find that a small fraction of their clients drive the bulk of their revenue, while a large portion contributes relatively little beyond an annual tax return. The instinctive response might be to reduce or eliminate these relationships....

12+ hour, 21+ min ago  (232+ words) This investment bolsters the competition for accounting firms that offer similar outsourced CFO services. CFO Selections serves business and nonprofits across Washington, Oregon, Colorado and Texas with a team of more than 250 employees. It provides fractional CFO and controller services,…...

13+ hour, 32+ min ago  (899+ words) While concerns remain about the profession's pipeline of new accountants, Cathy Moy, chief people officer at BDO USA, sees plenty of ways to keep it full -- and to make sure it meets firms' demands for all kinds of talent. Transcription…...

8+ hour, 15+ min ago  (587+ words) New York City Mayor Zohran Mamdani insisted his push for a new tax on pricey second homes isn't "motivated by any one individual," as reporters pressed him on whether he regretted singling out billionaire Ken Griffin's $238 million Manhattan penthouse in…...

8+ hour, 15+ min ago  (743+ words) A judge questioned whether President Donald Trump's $10 billion lawsuit against the Internal Revenue Service and the U. S. Treasury can proceed with Trump effectively in control of both sides of the litigation." U. S. District Judge Kathleen Williams on Friday ordered the Justice Department,…...