News

The U.S. economy created 252,000 jobs in December, beating economists’ forecast of 240,000 jobs. The unemployment rate fell to 5.6%, compared with 5.8% in November.

Federal Reserve officials have expressed growing optimism that the U.S. economy has begun a sustainable recovery, according to minutes of the Federal Open Market Committee’s December meeting. Members said growing payrolls and falling oil prices stand a good chance of […]

The U.S. services sector expanded last month at the lowest rate since June, according to an Institute for Supply Management index. The benchmark reached 56.2, down from November’s 59.3 and short of a 58.5 forecast by analysts surveyed by Thomson […]

The Standard & Poor’s 500 index Monday posted its biggest one-day fall since Oct. 9 as plummeting global oil prices triggered a sell-off of energy shares. The Dow Jones industrial average gave up as much as 2%.

Oil prices continued their plunge on global markets. U.S. crude fell to $51.36 a barrel and Brent crude dropped to as low as $54.85 a barrel, both the lowest prices since May 2009.

U.S. gross domestic product grew an annualized 5% in the third quarter, raising hope that the economic recovery is picking up momentum. The expansion marks the fastest quarterly growth rate since 2003. Growth in 2015 could approach that of boom […]

The Securities and Exchange Commission wants companies to tighten accounting procedures and controls around their cash-flow statements in light of the growing number of restatements. Companies should step up “risk assessment and monitoring controls in addition to control activity-level controls,” […]

Behind on your holiday shopping? See which high-tech gifts may be high on CPAs’ wish lists this year.

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