Hot Topics Article Archives - Page 61
What's Next for FASB
FASB to work on developing accounting rules to address areas of distinguishing liabilities and equity, financial performance reporting, and segment reporting. After considering feedback on a yearlong agenda consultation project, FASB added these items to its technical agenda:A project on distinguishing liabilities and equity that is designed to improve understandability and reduce complexity without sacrificing the relevance of information ...
Read MoreIRS Updates Special Per-diem Rates for Business Travel
Business travelers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses (Notice 2017-54). The new rates will be in effect from Oct. 1, 2017, to Sept. 30, 2018. The IRS on Tuesday provided the 2017-2018 special per-diem rates, including the transportation industry meal and incidental expenses rates, the rate for the incidental-expenses-only deduction, and the rates and list ...
Read MoreGreetings to all NSAC members from the President!
It is hard to believe that the harvest season is here for many of our members! It does not seem that long ago that we were all talking about the wet/dry, hot/cold weather than seemed to stay around for most of March, April and May. The weather sure can vary a lot in just a few miles across the country! Member Communication As part of the National Board’s strategic initiatives we are looking to increase member communication. Providing ...
Read MoreCOSO Releases Updated Enterprise Risk Management Framework
The Committee of Sponsoring Organizations of the Treadway Commission released a long-awaited update Wednesday to its ERM Framework: Enterprise Risk Management–Integrating with Strategy and Performance, the first since 2004. The updated framework, developed by PricewaterhouseCoopers under the direction of the COSO board, aims to help organizations improve their approach to managing risk. COSO is also responsible for the recently ...
Read More3 Steps To Protecting Your Business From Workplace Fraud
Every few months, a major fraud investigation hits the news. According to a new report titled Keeping Business Clean: A CGMA Guide to Countering Fraud & Corruption by the Association of International Certified Professional Accountants, despite awareness movements and advances in legislation, fraud and corruption continue to plague businesses. The World Economic Forum estimates that the typical organization can lose an ...
Read More