CPA Practice

SEPTEMBER 7, 2023

The Financial Accounting Standards Board (FASB) unanimously approved new rules on Sept. In addition, companies will disclose in their footnotes every reporting period significant holdings of crypto and any restrictions on those holdings, Bloomberg Tax reported on Wednesday. 15, 2024, including interim periods within those years.

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Cherry Bekaert

SEPTEMBER 22, 2023

Contributors: Graham Michitsch, Senior Manager On September 6, 2023, the Financial Accounting Standards Board voted on cryptocurrency accounting and set in place a new rule that business must use fair-value accounting for certain crypto assets that meet the predefined criteria, such as bitcoin.

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Going Concern

DECEMBER 22, 2023

Talent The Race Is On to Hire Interns for 2025. PwC posted its summer 2025 internships for areas including tax and consulting in September, the earliest the firm has ever advertised internship positions, said Rod Adams, who leads hiring for the U.S. HEY it’s not too late to snag some tax talent before busy season hits.

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Cherry Bekaert

MAY 9, 2024

The Governmental Accounting Standards Board (GASB) has issued Statement No. For example, a voter-approved property tax cap or a state-imposed debt limit. The requirements of this Statement are effective starting for governments with a fiscal year end of June 30, 2025. Earlier application is encouraged.

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Cherry Bekaert

JANUARY 29, 2024

The Financial Accounting Standards Board (FASB) issued nine Accounting Standard Updates (ASUs), and the Government Accounting Standards Board (GASB) issued only one new GASB Statement in 2023. The latest issue of the Rundown features a summary of the new standards issued in the fourth quarter 2023.

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Withum

OCTOBER 11, 2023

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

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CPA Practice

JANUARY 12, 2024

Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, has released its fifth annual Environmental, Social and Governance (ESG) Report , which highlights the firm’s progress toward achieving key milestones in its sustainability goals and diversity, equity and inclusion (DE&I) aspirations.

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Going Concern

MARCH 22, 2024

PwC chairman refuses to share tax leaks scandal investigation with Australian parliament [ The Guardian ] PwC’s global chairman, Bob Moritz, has refused to comply with a request from the Australian parliament to share a copy of an investigation used to contain the tax leaks scandal to Australia. This S**t Is Still Going On?

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Cherry Bekaert

OCTOBER 25, 2023

After a period of relative inactivity, standard setters have issued four new standards. The Financial Accounting Standards Board (FASB) has issued Accounting Standard Update (ASU) 2023-03 through ASU 2023-06.

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Withum

FEBRUARY 1, 2023

Important Tax Considerations With 2022 coming to an end, there are several important tax topics and considerations a dealer should be aware of over the next few years. In order to use the LIFO method, a taxpayer must file Form 970 with their tax return to make the election.

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Cherry Bekaert

FEBRUARY 8, 2023

Standard setters were relatively inactive this past year. The Financial Accounting Standards Board (FASB) issued only six new Accounting Standard Updates (ASUs) and the Government Accounting Standards Board (GASB) issued only three new GASB Statements in 2022.

Non-Profits 40

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