Accounting
Top stories summarized by our editors
3/22/2019

Rules issued by the Financial Accounting Standards Board align its definition of "collections" with that used by the American Alliance of Museums' Code of Ethics for Museums. The standard might help museums and other not-for-profits maintain collections.

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American alliance
3/22/2019

The Internal Revenue Service has announced it is suspending two old revenue rulings on the active trade or business requirement under Secs. 355(a)(1)(C) and (b) until it completes a study it is conducting to determine whether entrepreneurial activities by a business are enough to satisfy the active trade or business requirement where no income has been earned.

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Internal Revenue Service
3/22/2019

Keeping up with due diligence requirements is essential this time of year, but it's not easy for CPAs to adhere to the rules when they're in the thick of busy season. This blog post details requirements you need to remember to ensure standards stay high.

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AICPA Insights
3/22/2019

Range names can make formulas easier to read, but if they are overused they can confuse end users. Here's how to properly use the tool.

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Financial Management
3/22/2019

Facebook has admitted it stored user passwords in plain text, potentially making them accessible to employees. It might be wise for users to change passwords, although the company says it will not require that.

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Facebook
3/22/2019

The Securities and Exchange Commission has approved amendments to Regulation S-K aimed at simplifying and modernizing disclosure by public companies, consultants and money managers. The amendments are required under the Fixing America's Surface Transportation Act of 2015.

3/22/2019

Many people who prepare financial statements, such as controllers, analysts, accountants and auditors, lack confidence in their reports' accuracy, according to research from BlackLine. They cite reasons including human error, data volume, overreliance on spreadsheets, outdated processes and lack of automated controls.

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CFO
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BlackLine, BlackLine
3/22/2019

Stone was CFO of Snap.

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CNBC
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Tim Stone, SNAP, Ford
3/21/2019

"Hopefully, your organization has a fraud response plan that assigns specific duties and responsibilities," writes IIA President and CEO Richard Chambers. "But if not, don't automatically assume that, as an internal auditor, you should undertake a fraud investigation single-handedly or that you should lead a fraud investigation team yourself."

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Richard Chambers
3/21/2019

Tax practitioners and taxpayers with state tax obligations face the challenge of understanding implications of new or amended federal provisions on state taxation. Here are some tips.

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The Tax Adviser