By Michael Cohn Published November 13 2017, 4:15pm EST Increases in audit fees paid by public companies aren’t necessarily producing better audit quality, according to a new report. The study, conducted by Lili Sun, an associate professor of accounting at the University of North Texas, Michael Ettredge of the University of Kansas and Matthew Sherwood… Read More

By Ranica Arrowsmith Published November 10 2017, 12:28pm EST Intuit has introduced updates to its Lacerte, ProSeries and ProConnect Tax Online products. Lacerte now offers a number of new e-filing types, along with 2D barcode tax returns, and 93 new forms have been added to the software, including Forms 8288-A and 8805. Additionally, address auto-filling… Read More

By Ranica Arrowsmith Published November 09 2017, 5:22pm EST Thomson Reuters, a provider of finance, accounting and other business intelligence software, has announced the 2017 winners of its Customer Superstar Awards, which are given to practitioners and firms who demonstrate outstanding dedication and service in the tax and accounting profession. Award winners were selected by… Read More

By Ranica Arrowsmith Published November 08 2017, 12:35pm EST Adaptive Insights, which provides cloud corporate performance management software, has extended its platform for financial and operational planning, the final push in this year’s updates to the Adaptive Suite. This release marks the third software release for 2017. The new features of Adaptive Suite 2017.3 include:… Read More

By Shahien Nasiripour and Julie Verhage Bloomberg News Published November 07 2017, 11:20am EST  Intuit Inc., the maker of tax-preparation and accounting software, will start lending directly to smaller businesses as it becomes the latest tech company to offer credit to firms. The roughly 7 million businesses that use Intuit’s QuickBooks accounting software may be… Read More

By Michael Cohn Published November 07 2017, 4:56pm EST The Financial Accounting Standards Board’s new standard on accounting for credit losses will require some major changes for banks, particularly smaller ones, as well as many companies that provide loans. The current expected credit loss, or CECL, standard requires them to measure all of their expected… Read More

By Ken Tysiac November 11, 2017 Three nonauthoritative issue analyses prepared by the AICPA Health Care Expert Panel are designed to help health care entities prepare for implementation of FASB’s new accounting standard for not-for-profit entity financial statements. In August 2016, FASB issued Accounting Standards Update No. 2016-14, Not-for-Profit Entities (Topic 958):Presentation of Financial Statements of Not-for-Profit… Read More

By Michael Cohn Published November 03 2017, 3:58pm EDT The tax reform bill introduced by House Republicans doesn’t give the low 25 percent income tax rate for pass-through businesses to accounting firms and other professional service firms, and the rules for getting around it are complicated. “The anti-abuse provisions for the reduction in the pass-through… Read More

By Jeffrey Pretsfelder Published November 02 2017, 4:40pm EDT As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. Until Congress passes tax reform legislation, these tips should help many tax clients. The following… Read More

By Ken Tysiac October 25, 2017 The idea that “image is everything” doesn’t hold much weight with investors, who are keenly interested in what a company is able to deliver and its plans for the future. Crafting a winning product or service and a strategy for the long term is the best way for a… Read More