NSAC Happenings and Latest News - Page 17
TAXFAX Winter 2021
Originally published in The Cooperative Accountant, Winter 2021 Issue IRS Releases Revised Hobby Loss Audit Technique Guide To assist agents in the field, the IRS has developed a series of publications which it calls audit technique guides (“ATGs”). According to the IRS website: “ATGs explain industry-specific examination techniques and include common, as well as, unique industry issues, business practices and ...
Read More5 Tips for Becoming a More Effective Leader for a Virtual Workforce
Whether you're a fan of remote work or not, leadership skills for virtual teams are increasingly becoming essential for managers everywhere. According to Gallup, 76% of remote workers say their employer will allow people to work remotely going forward, at least partly. And while there is a fair amount of overlap between effective in-person and virtual leadership, there are some key differences to consider. "Virtual leadership provides a unique ...
Read MoreACCTFAX Winter 2021
Originally published in The Cooperative Accountant, Winter 2021 Issue FASB PROPOSES IMPROVEMENTS TO FAIR VALUE GUIDANCE FOR EQUITY SECURITIES On September 15, 2021, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would improve financial reporting for investors and other financial statement users by increasing comparability of financial information across reporting ...
Read MoreHow to Stay Focused as Remote Work Remains
Here's why many employees still prefer to work from home and how you can improve focus and motivation. When the Pew Research Center found a large percentage of workers still preferred to work from home at the end of 2020, some skeptics might have expected this trend to soon reverse. But as 2021 has proven, working remotely has in fact become even more entrenched and expected by the workforce. In mid-October 2021, Gallup simplified the ...
Read MoreDigital Assets, Intangibles Among Priorities on FASB’s New Research Agenda
Earlier this year, FASB asked for comments on what its agenda priorities should be. In response to feedback received in the agenda consultation, FASB Chair Richard Jones announced comprehensive changes to the board's research agenda. FASB's research agenda now will include the following projects, in no particular order: · Accounting for exchange-traded digital assets and commodities. Accounting and disclosure for a subset of these ...
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