The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have jointly developed a new revenue recognition project. The project’s objective is to clarify the principles for recognizing revenue and to create a joint revenue recognition standard for U.S. GAAP and IFRS that companies can apply consistently across various industries and transactions.... read more >
At their May 17, 2011 meeting, the FASB and IASB reached several tentative decisions relative to lease accounting: Leasee Accounting – The Boards ... read more >
We are only half way through this year and already billions of dollars of damage has been dealt to the United States due to severe flooding along the Mississippi ... read more >
The deadline for filing the Report of Foreign Bank and Financial Accounts, Form TD F 90-22.1 (FBAR) for calendar year 2010 is fast approaching. These reports ... read more >
In January 2011, the CPA exam underwent its largest transformation since it was converted from a paper and pencil exam to computer-based in 2004. Some ... read more >
The annual AICPA Not-for-Profit Conference will be held next week in Washington, D.C. Members of the Schneider Downs Nonprofit Industry Group will be joining ... read more >
What is Marcellus Shale? The Marcellus shale is an organic-matter-rich rock formation that holds large reserves of natural gas. The Marcellus shale formation ... read more >
The Pension Protection Act of 2006 added new provisions to the Internal Revenue Code at Section 6039I regarding employer-owned life insurance. Any employer ... read more >
Recently, we have seen the U.S. Department of Labor (DOL) increase its investigations of dealerships’ payrolls. The DOL’s focus has been the ... read more >
There are a few significant tax changes that are currently being considered by the Ohio Senate. These possible changes include the elimination of Ohio’s ... read more >