This year's winner of the annual Ernest "Papa" Hemingway Look-Alike Contest is particularly apt. Macon, N.C., resident Dave Hemingway -- no relation to the author -- likes fishing, drinking, women and having a good time, same as the author did.
The amount of Subpart F income that must be included in income is limited by the controlled foreign corporation's current-year earnings and profits. But the question arises whether that should include amounts from the inclusion in income from a Sec. 956 investment in a US property, which this article addresses.
The Financial Accounting Standards Board's new credit loss standard will affect US banks' reserving practices, but gives banks enough time to implement the standard, according to a Fitch Ratings analysis.
Bitcoin is not the equivalent of money, said a Miami judge who dismissed charges against a man accused of laundering the currency. The judge also said that Florida's money-laundering laws could not be applied to bitcoin because they are too vague.
Brian Croteau, deputy chief accountant at the Securities and Exchange Commission, is leaving the agency. Croteau has helped monitor the Public Company Accounting Oversight Board in addition to other tasks.
The vast majority, or 80%, of Americans feel guilty about throwing away food, but 51% said it would be difficult to cut down on food waste and 42% said they didn't have time to deal with it. The study in PLOS ONE, which said there is 130 billion pounds of food waste in the US annually, found that fewer than 60% of respondents knew food waste is harmful for the environment.
Having the right people to perform tasks and procedures and work with clients is an important element in delivering outstanding audit quality. Here's how one CPA firm's career development framework plays a prominent part in its commitment to delivering high-quality audits.
The above-the-line deduction that teachers can claim for classroom expenditures was recently made permanent, adjusted for inflation and expanded. Here's a look at the new rules and how to take advantage of them.
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