- Utilities that operate in ISO/RTO markets must answer the question of the proper accounting treatment for purchased power transactions where the utility both sells into and buys power from the market.
- The District of Columbia Tax Revision Commission has developed a slate of tax reform measures, which includes two controversial proposals.
- The proliferation of ETF funds in the past ten years has been significant and asset managers should expect that trend to continue.
- The 2013 Fall NAIC meeting concluded on December 18, 2013 in Washington, DC. A number of substantive and non-substantive agenda items, including various committee meeting summaries were addressed. Key technical accounting updates were discussed during the Statutory Accounting Principles Working Group and the Emerging Accounting Issues Working Group.
- On December 18, the Financial Accounting Standards Board (FASB) continued deliberations and tentatively decided to require all Not-For-Profit (NFP) entities to report expenses by functional and natural classification within their financial statements. Currently, all NFPs are required to report expenses by functional classification, but not by nature (salaries, benefits, repairs, etc.).
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