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Looking on the Brighter Side
Each year, Accounting Today checks in with the foremost people in the accounting profession to see what issues are keeping them up at night (see “Plenty on Their minds,” above), which inevitably yields a weighty list of dire concerns. This year, to ...

FASB Proposes Changing Standards for Insurance Contracts
In addition the proposal would simplify the accounting for certain options or guarantees in variable products (such as guaranteed minimum death, accumulation, income and withdrawal benefits) by requiring those benefits to be measured at fair value ...

Flames Consume Accounting Business
The Chamis and Kelly Accounting and Insurance office, off Riverside Drive, burned fiercely Sunday morning, taking boxes of paperwork with it. Española Fire Lt. Johnny Martinez said the cause of the fire was not clear, but firefighters received the call ...

FASB Issues Proposed Changes to Accounting Guidance for Long-Duration Contracts Issued by Insurance Companies
NORWALK, Conn.--(BUSINESS WIRE)--The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) intended to improve financial reporting for insurance companies that issue long-duration contracts, ...

Contract Value Or Fair Value?
In July 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit ...

What can you do with an accounting degree?
The world of business rests on an accountants shoulders, for it is they who are responsible for the management and analysis of transactions and capital holdings. Another, more old fashioned term for an accountant is a "bookkeeper" as the ...

AICPA partners with state CPA societies to bolster accounting education in high schools
The AICPA announced on Wednesday that they will be partnering with state CPA societies across the country to increase the amount high school educators teaching high-level accounting courses. Over the course of the current school year, the AICPA will ...

Sage advice: Avoid the Windows 10 Anniversary Update – it knackers our accounting app
Accounting software developer Sage has warned that the Windows 10 Anniversary Edition may break your Sage 50 installation. In an advisory circulated to customers on Tuesday, Sage says the latest version of Microsoft's operating system can create a ...

Free accounting fundamentals program offered in Troy
Those interested in getting a crash course in the fundamentals of accounting are invited to attend a free introductory program at Walsh College's campus in Troy held on Saturdays throughout October. The course is made possible through a gift made in ...

SEC won't pursue clawbacks in Weatherford accounting fraud case
Weatherford filed its first restatement on March 8, 2011. That restatement was intended to address a four-year income tax accounting fraud allegedly perpetrated by James Hudgins, the vice president of tax and later an officer of Weatherford, and Darryl ...

Sustainability Disclosures Making Headway in Reports
Elisse Walter, a former chair of the Securities and Exchange Commission and a current director on the Sustainability Accounting Standards Board, spoke Monday at a Financial Executives International and Ernst & Young conference on financial reporting at ...

Officials 'lost confidence' in Southington High bookkeeper after accounting error, documents show
SOUTHINGTON — The bookkeeper placed on leave after the start of a police investigation into $9,000 that went missing from a safe at Southington High School was previously involved in an accounting error that led administrators to say they had lost ...

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