- On October 24, 2014, the Internal Revenue Service (IRS) issued a directive (LB&I I-04-1014-008) regarding bad debt deductions related to eligible debt and eligible debt securities. The directive provides large business and international (LB&I) examiners with guidance on deductions for bad debts taken under Internal Revenue Code (IRC) §166.
- The American Institute of Certified Public Accountants (AICPA) has rolled out the long-awaited update of its accounting and review standards. Statement on Standards for Accounting and Review Services (SSARS) No. 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification, represents one of the AICPA’s most significant revisions of its nonaudit standards since 1979. Among other things, the guidance creates a bright line between accounting (or preparation) services and reporting (compilation or review) services and lays out distinct requirements for each type of service. This article outlines what the clarified guidance means to those who use CPAs to perform nonaudit services — including reviews, compilations, and financial statement preparations — to report their historical and prospective financial results.
- This bi-monthly healthcare update provides information on the following recent activities: CMS's final methodology for its Dialysis Facility Compare (DFC) Star Ratings Program, congressional committee leadership changes, Medicare reimbursements for hospitals, and repealing the SGR formula.
- Techniques of hacktavists, organized crime, and foreign governments are inevitably producing data breaches that are more complex and impactful. Learn how forensic accounting can connect the dots in data breach cases.
- Following a strong first half of 2014, US M&A activity in the food & beverage (F&B) sector momentum carried into the third quarter posting another quarter of strong results.
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