Labor Department to submit retirement account adviser rule

February 23rd, 2015  // News

The Labor Department is expected to submit a proposal that would strengthen standards for brokers who recommend retirement investments. The rule will be submitted to the Office of Management and Budget, and will be available for public comment after it is approved and published. Read more

Wal-Mart adopts $9 hourly minimum wage for 40% of staff

February 20th, 2015  // News

Advocates for low-wage workers applauded a decision by Wal-Mart Stores, the biggest private-sector employer in the U.S., to establish a $9 hourly minimum wage, $1.75 above the federal minimum wage, for almost 40% of its U.S. employees. The action could pressure other retailers to raise wages. Read more

New Tangible Property Regulations – Will your business be affected?

February 20th, 2015  // News

The IRS recently finalized mandatory regulations to distinguish capital expenditures from supplies, repairs, maintenance, and other deductible expenses – commonly known as the Repair Regulations. Read more

FASB, IASB to propose revenue recognition clarifications

February 19th, 2015  // News

The Financial Accounting Standards Board and International Accounting Standards Board agreed Wednesday to propose revisions to the language of their converged revenue recognition standard. Some financial statement preparers have asked for additional guidance to aid their implementation. Read more

Key takeaways about the state of risk management

February 18th, 2015  // News

Companies continue to struggle to integrate risk oversight efforts with strategic-planning processes, according to a new survey. Senior finance executives say their organizations are often not in alignment about the need for structured enterprise risk management, a survey on behalf of the AICPA shows. Read more

Obama’s immigration order halted by federal judge

February 17th, 2015  // News

U.S. District Judge Andrew Hanen in Brownsville, Texas, temporarily blocked the federal government from implementing President Barack Obama's executive order protecting millions of undocumented immigrants from deportation. The judge said the administration failed to meet requirements of the Administrative Procedure Act. Read more

FASB tackles income tax disclosures for undistributed foreign earnings

February 16th, 2015  // News

The Financial Accounting Standards Board has made tentative decisions on certain disclosures it plans to require related to income taxes, with a focus on undistributed foreign earnings. The board is attempting to simplify financial reporting by streamlining disclosures. Read more

Obama to sign executive order to share classified cyberthreat information

February 13th, 2015  // News

President Barack Obama will sign an executive order today that will make it easier for the government to share classified information about cyberthreats with companies. Under the executive order, the Department of Homeland Security would approve arrangements to share classified information and participation will be voluntary for companies Read more

Employment data suggest wage increases will accelerate this year

February 12th, 2015  // News

The U.S. labor market is tightening to the point where economists are predicting that "structural frictions" will lead to wage increases this year. In the Labor Department's most recent employment report, average hourly earnings increased 2.2%, suggesting that wages have already started to rise. Read more

Lawmakers involved in 1986 tax overhaul offer insight on tax reform

February 11th, 2015  // News

Former Sens. Bob Packwood and Bill Bradley, both of whom played key roles in the 1986 tax code overhaul, testified before the Senate Finance Committee about the lessons they learned and how lawmakers should now proceed. "The only way it can be done is bipartisan, quickly, and behind closed doors," Packwood said. Read more

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