NSAC Happenings and Latest News - Page 111
Continued Rise Projected for Accountants' Starting Salaries in 2017
Starting salaries for U.S. accounting and finance positions will continue to rise in 2017, reflecting high demand for skilled professionals, according to a new salary guide. Increases in starting salaries will range from 3.0% to 4.3% in 2017, depending on the position, according to the Robert Half 2017 Salary Guide. The prediction trails the unusually high forecast for 2016, when the guide said starting salaries in accounting and finance would ...
Read MoreAvoiding Cost Segregation Recapture Tax
Here are some ways to lower any depreciation recapture when disposing of a property. Savvy tax professionals who recommend cost-segregation studies are well aware of the recapture tax rules that require taxpayers to pay back any tax deductions for accelerated depreciation when the property is sold. After all, in the right situation, the net present value of those tax savings far exceeds any recapture tax payback. While the effects of a ...
Read MoreThe Risks of Intercompany Accounting
Companies that botch the accounting for transactions between different legal entities within their organizations can make their financial reporting slipshod. Deloitte polled more than 3,800 professionals, most of them people who work in accounting and finance, during a May webcast. It found 25.6 percent of the respondents indicated their company’s intercompany accounting framework was still “developing.” That is, it was a goal ...
Read MoreFASB Proposes Targeted Changes to Hedge Accounting Rules
FASB proposed targeted changes to hedge accounting standards Thursday that are designed to help financial statements provide an accurate depiction of how an organization manages risk. The board proposed that the economic results of an institution’s risk management activities would be portrayed more faithfully by:• Expanding the use of component hedging for nonfinancial and financial risks.• Refining the measurement techniques ...
Read MoreFASB clarifies the classification of certain cash receipts and cash payments
The FASB issued final amendments to clarify how entities should classify certain cash receipts and cash payments on the statement of cash flows. The new guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance will generally be applied retrospectively and is effective for public business entities for fiscal years beginning after ...
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