Updated U.S. GAAP taxonomy for 2015 available

December 19th, 2014  // News

The 2015 U.S. GAAP Financial Reporting Taxonomy is available, pending Securities and Exchange Commission approval, the Financial Accounting Standards Board announced Thursday. Read more

Fed hints at rate increase after Q1

December 18th, 2014  // News

The Federal Reserve has changed its position on monetary policy, shifting from keeping interest rates low for a "considerable time" to being "patient" on when to raise rates. One interpretation is that rates will not climb until at least April. Read more

How new practice-monitoring strategies can drive audit and attest improvement

December 16th, 2014  // News

In a new concept of practice monitoring that the AICPA envisions for the future, peer reviewers and firms will use a new technology platform to enable more thorough analysis and provide more timely feedback for accounting, auditing and attestation engagements. An AICPA concept paper released Monday reimagines what practice monitoring could become and invites public comment on the idea. Read more

Fed likely to soon end near-zero rate policy

December 15th, 2014  // News

The Federal Reserve's free-money policy could end this week. The central bank is meeting Tuesday and Wednesday and is expected to end its two-year pledge to keep interest rates close to zero for a "considerable time" now that its asset-purchase program has ended and the economic recovery has picked up speed. Read more

Senate takes up $1.1T spending bill

December 12th, 2014  // News

Debate is set to begin in the Senate on a $1.1 trillion spending bill to head off a U.S. government shutdown. The House passed the measure in a 219-206 vote Thursday night. Its version would fund most of the government for a full year and includes a rollback of some Dodd-Frank Act provisions related to derivatives trading. Read more

Press on with revenue recognition work, experts say

December 11th, 2014  // News

Companies should continue their work to implement the new revenue recognition standard despite the potential that the Financial Accounting Standards Board may defer its effective date, experts said Wednesday at the AICPA Conference on Current SEC and PCAOB Developments. Read more

Lawmakers agree on $1T bill to avert government shutdown

December 10th, 2014  // News

Republican and Democratic leaders in Congress have reached agreement on a $1.01 trillion spending bill that would end the threat of a U.S. government shutdown. A stopgap measure to continue funding for a brief period will be introduced to give the House and the Senate time to pass the larger measure, which would fund much of the government through September. Read more

Many companies poised to miss earnings estimates if tax breaks aren’t reinstated

December 9th, 2014  // News

A large number of companies will miss their corporate earnings targets if Congress doesn't retroactively reinstate more than 50 expired tax breaks. CFOs are baking in the assumption that the tax breaks will be extended when they make their forecasts to make it easier for investors to draw quarterly comparisons. Read more

4 approaches CFOs can take to engage in strategy

December 8th, 2014  // News

As the demands on CFOs grow, it's helpful to think about how finance chiefs should approach their strategic role. Deloitte sees four roles for CFOs engaging in company strategy. Read more

U.S. economy added 321,000 jobs in November

December 5th, 2014  // News

The U.S. Labor Department reported that 321,000 jobs were created in November, beating the 230,000 jobs that economists predicted. The unemployment rate stayed at 5.8%. Read more





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