- Have you ever found where another department in your government has opened its own bank account?
- This bi-monthly healthcare update provides information on the following recent activities: recent announcements from the Department of Health and Human Services about its “Transforming Clinical Practice Initiative” and the Centers for Medicare and Medicaid Services regarding details on its Accountable Care Organization Investment Model. The update also provides information on a report regarding Medicare beneficiary payments for outpatient services received at critical access hospitals.
- The Society of Actuaries recently released new mortality tables for use by plan sponsors when measuring benefit plan costs and obligations. The new tables, RP-2014 (mortality tables) and MP-2014 (longevity improvement scale), will most likely result in higher defined benefit obligations in benefit plans.
- As a whole, local governments have been hit hard by the Great Recession. One of the main strategies that governments have employed to address the financial crisis has been spending cuts.
- In 2002, FASB and the IASB agreed to work together to develop high-quality, compatible accounting standards that could be used for both domestic and cross-border financial reporting. Since then, the bodies’ efforts to achieve the so-called “convergence” of US GAAP and IFRS have had their ups and downs. Going forward, US standard setters propose an informal, collaborative model that will minimize differences in financial reporting, in lieu of the IASB’s one-size-fits-all approach. This article looks back at what’s happened with convergence to date and examines the future direction of financial reporting in a global marketplace.
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