- While the Tax Cut and Jobs Act will simplify taxes for many Americans, many businesses and tax-exempt entities will find the computation of taxable income even more complex than in the past.
- A Southern utility uses cost of service and rate design studies to update its revenue requirement amid increased purchased power costs and distributed generation.
- The PCAOB said in its most recent standard-setting agenda that plans to continue working on the standards projects for accounting estimates and the use of specialists. The two related proposals are intended to strengthen the requirements when auditors scrutinize assets and liabilities that are hard to estimate, such as fair value measurements, oil company reserves, and actuarial forecasts.
- With integrated best of breed (BoB) and enterprise resource planning (ERP) systems, a midsize Midwestern city better manages its financials and identifies future budget needs.
- The PCAOB updated its staff guidance to help accounting firms comply with the requirements for the expanded audit reports they will have to begin filing in 2018. The update gives additional information to guide accounting firms when determining the tenure, or length of time they have served a client, that should be reported.
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