Accounting
Top stories summarized by our editors
8/21/2017

Conflict management works by starting with intention and gathering as much information as you can, write Chris Schafer and Brent Carter. "The goal is to understand and empower people to find and take the next healthy step," they write.

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The CEO Magazine
8/21/2017

Companies have become more cautious about using metrics that do not comply with generally accepted accounting principles. This year, the difference between companies' GAAP net income and non-GAAP equivalent is expected to shrink for the second year in a row, a Thomson Reuters analysis finds.

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Reuters
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Thomson Reuters
8/21/2017

The Public Company Accounting Oversight Board is urging audit firms to take steps to bring about higher quality in audits of brokers and dealers, according to a report issued Friday.

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PCAOB
8/21/2017

Businesses are providing more information voluntarily about audit committees and relationships with auditors, according to an EY study. The study is based on proxy materials filed by Fortune 100 companies between 2012 and 2017.

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CFO
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EY
8/21/2017

It is normal for pre-retirees to have anxiety about savings, but it is important not to make emotionally driven decisions. Using a bond ladder might help pre-retirees manage jitters, but people should also leave enough money in stocks to take advantage of long-term earnings these investments can provide.

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CNBC
8/21/2017

The owner and operator of the bed-and-breakfast spent more than 14 days at the property while he was trying to sell it, violating Section 280A(a), which disallows deductions if a dwelling is used as a personal residence. He claimed he spent the time at the property doing repairs and maintenance, but the court ruled the evidence did not support that argument.

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Larry Bird
8/21/2017

Floyd Mayweather, widely regarded as one of boxing's greatest, apparently owes the Internal Revenue Service unpaid 2015 taxes. As penalties and interest accrue over time, his bill could deliver a knockout blow.

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AICPA Insights
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Floyd Mayweather, IRS, boxing
8/21/2017

Andrew Bass, CPA/PFS, offers eight tips for handling inherited IRAs so beneficiaries can avoid large tax bills. Among other things, it's important to understand required minimum distribution rules and make sure IRAs are titled correctly. For more information on planning and inherited IRAs, PFP/PFS section members can reference Chapter 18 of The CPA's Guide to Practical Retirement Planning.

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Kiplinger online
8/21/2017

Modern retirees are able to live many years longer than members of earlier generations did, presenting an opportunity for advisers to add value through longevity planning. In addition to offering their own financial expertise, advisers can help by connecting clients with experts in other fields to address problems that may arise during the aging process. The AICPA Personal Financial Planning Section has a resource center filled with videos, podcasts, articles and more tools to help assist clients with their elder planning and longevity needs (available to PFP/PFS Section members).

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AICPA
8/21/2017

As strategic philanthropy has evolved, so too have best practices in the field. This article offers seven tips to consider, starting with the need to analyze decisions from multiple perspectives to make sure they have the desired outcome on the community as well as the client's family. PFP/PFS Section members can access Broadridge Advisor, which contains dozens of ready-to-go client communication pieces on charitable giving.

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WealthManagement