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This month’s issue focuses on the coming year in accounting and taxation, as CPAs take stock of recent changes and prepare for their actual implementation. In the accounting arena, the focus is on several unresolved issues in accounting standards setting. These fundamental issues—revenue recognition, leases, and going concern—have been a topic of debate for years, even decades. Standards have been issued and then revisited, new guidance has been released, critiqued, redelibertated, and then postponed.

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  • The Benefits of Talking About Fees with your Clients
    Feb 12, 2016

    Even among older, more experienced CPAs, it can be difficult to discuss fees with clients. But it’s an important skill to learn, and while there will likely always be a couple of difficult clients (at least, unless you’re comfortable with parting ways with them as a rule), doing so can have a surprising number of benefits, according to Accounting Today.

  • How to Build Your Confidence before an Interview
    Feb 10, 2016

    Heading into an interview can be extremely stressful, and unfortunately, stress can often prove detrimental to your interviewee skills. Unless you happen to know that the interview is just a formality (lucky you!), it’s likely to be more than a small source of anxiety. So how to you boost your confidence before entering the lion’s den? Forbes has a few suggestions to follow:

  • Hoogervorst Retained as IASB Chair
    Feb 12, 2016
    Former Dutch financial regulator Hans Hoogervorst will lead the International Accounting Standards Board (IASB) for five more years as the trustees from the IFRS Foundation announced his re-appointment for a second term. 
  • Congress Passes Permanent Ban on Internet Taxes
    Feb 12, 2016
    A temporary ban on state and local governments taxing Internet access and charging additional tax for online purchases will now be extended into perpetuity.
  • NEWS HIGHLIGHTS FOR FRIDAY - 2.12.16
    Feb 12, 2016

    How to Talk about Fees with Your Clients
    Accounting Today
    Are CPAs really afraid to talk about fees with their clients? That’s what Tom Wheelwright, founder of the accounting firm ProVision, thinks. Wheelwright, an advisor and speaker at Robert Kiyosaki’s Rich Dad Poor Dad seminars, and a contributor to Donald Trump’s Wealth Builders Program, says most accountants are “scared to death” of talking about fees with their clients. His advice? “Talk about fees early and often,” he said. 

     

  • GASB Proposes Unitary Lease Model
    Feb 11, 2016
    The Governmental Accounting Standards Board (GASB) has proposed a new standard on leases for state and local governments based on the principle that all leases are financings of the right to use the underlying asset, according to the Journal of Accountancy

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