FASB Issues Revised Exposure Draft on Revenue Recognition

Audit

By Donald Applegarth

On November 14, 2011, the FASB and IASB (the “boards”) jointly issued their revised exposure draft (ED) Revenue From Contracts With Customers. ... read more >

Vow to Hire Heroes Bill Passed

Tax

By Matt McKinnon

As part of the repeal of the three percent withholding requirement on federal contractors, Senate members added the VOW to Hire Heroes Bill to H.R. 674 ... read more >

Latest Manufacturing Data Released from First Research

The latest statistics for the first three quarters of 2011 have been released by First Research. First Research is one of the leading sources of manufacturing ... read more >

How Well Do You Spread Your Organization's Financial Message?

As an auditor of nonprofit organizations both large and small, I am often struck at how challenging it is to truly understand an organization’s mission ... read more >

FASB Proposes to Defer Portions of New OCI Standard

Audit

By Donald Applegarth

On November 8, 2011, the FASB issued a proposed ASU1 that would indefinitely defer the provision in ASU 2011-05 related to presentation of reclassification ... read more >

Balanced Budget Amendment Fails to Pass the House

Tax

By Ron Kramer

On November 15, a House vote to add a balanced budget amendment to the U.S. Constitution failed by a vote of 261-165. The vote fell short of the 291 votes needed to send the amendment on to the states for ratification.... read more >

Notes from the National Oil and Gas Conference

Recently, I attended the National Oil & Gas Conference sponsored by the AIPCA in Denver. It was a great conference that covered many industry issues. ... read more >

House Approves Three Percent Withholding Repeal

Tax

By Matt McKinnon

On November 16, House members unanimously approved H.R. 674, repealing the three percent withholding requirement for federal contractors.... read more >

From $5 Million to $1 Million? Increased Gifting Opportunity May End Sooner Than Expected

Tax

By Melanie LaSota

Individuals and families who plan to make gifts in 2011 or 2012 to take advantage of the increased gift tax exclusion may need to proceed more quickly ... read more >

Pennsylvanians Required to Address Online Purchases and Unpaid Use Tax

The Pennsylvania Department of Revenue, in an effort to collect what it estimates as $345 million in lost tax revenue due to Internet and catalog sales ... read more >