Mondaq USA: Accounting and Audit
Carlton Fields
Thus, in some cases, current partners could be left paying the former partners' tax bill under the New Audit Rules.
McDermott Will & Emery
On October 1, 2017, the Delaware Department of Finance published final regulations in the Register of Regulations repealing its former unclaimed property regulations and promulgating...
Jones Day
In 2014, the US FASB issued new revenue standards under ASC 606, Revenue from Contracts with Customers, which essentially replaced existing revenue recognition requirements under U.S. generally accepted accounting principles.
Jones Day
Many companies have yet to disclose a selected methodology for, or an estimate of the financial impact of, implementation of New GAAP revenue recognition.
WilmerHale
The staff of the Public Company Accounting Oversight Board recently published a Staff Inspection Brief regarding its 2017 inspections of registered audit firms.
Morrison & Foerster LLP
Rule 3520 adopted by the Public Company Accounting Oversight Board (PCAOB) requires an auditing firm and its associated persons to be independent of their audit clients.
Cadwalader, Wickersham & Taft LLP
SEC Deputy Chief Accountant Sagar Teotia discussed the implementation of new Generally Accepted Accounting Principles ("GAAP") on revenue recognition, leases and measurement...
Baker Tilly
The US Financial Accounting Standards Board (FASB) has issued proposed Accounting Standards Update (ASU), Technical Corrections and Improvements to Topic 942, Financial Services —Depository and Lending: Elimination of Certain Guidance for Bad Debt Reserves of Savings and Loans.
Cadwalader, Wickersham & Taft LLP
SEC Chief Accountant Wesley Bricker discussed (i) the role of financial reporting in financial markets, (ii) the Financial Accounting Standards Board ("FASB") credit losses standard-setting efforts...
Hughes Hubbard & Reed LLP
As part of the Bipartisan Budget Act of 2015 (the "BBA") enacted in November 2015, the rules governing IRS audits of partnerships (including limited liability companies and other entities treated as partnerships for tax purposes)...
Scott & Scott LLP
Schedule P also provides a number of program-specific rules for calculating the number of Processor licenses required for licensed servers.
Scott & Scott LLP
On July 17, 2017, IBM announced that it would allow customers running z/VM Version 6, Release 3 or higher to license the product on a sub-capacity basis.
Scott & Scott LLP
It is not unusual for companies to use virtualization technologies to reduce costs, ensure redundancy, and reduce physical size of the network.
Scott & Scott LLP
IBM regularly informs customers selected for an IBM license review or software audit that it reviews the license position of all of its customers worldwide.
Jones Day
In a much-anticipated decision, on June 27, 2017, the Supreme Court of Delaware reversed the Chancery Court's ruling in Chicago Bridge v. Westinghouse.
Brown Smith Wallace
Are you frustrated by complex accounting jargon? In the July 2017 issue of The Accounting Review, the American Accounting Association (AAA) published findings from a study it conducted...
Cadwalader, Wickersham & Taft LLP
The SEC updated preexisting accounting guidance to conform to Financial Accounting Standards Codification Topic 606 ("Revenue from Contracts with Customers").
Butler Snow LLP
The arcane rules surrounding partnership audits rarely, if ever, come up, and most people don't even know that they exist.
McDermott Will & Emery
In early 2017, the IRS updated its Golden Parachute Payments Audit Technique Guide for the first time since its 2005 issuance.
Cadwalader, Wickersham & Taft LLP
The SEC settled charges against an accounting firm for failing to properly audit an oil company in 2011.
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McDermott Will & Emery
In two weeks, the Delaware Secretary of State (SOS) will begin mailing notices to holders who have been identified as likely being out of compliance with Delaware unclaimed property law.
Jeffer Mangels Butler & Mitchell LLP
As of January 1, 2018 owners of General Partnerships, Limited Partnerships or multi-member Limited Liability Companies may soon find themselves economically liable for the unpaid tax...
Jones Day
In a much-anticipated decision, on June 27, 2017, the Supreme Court of Delaware reversed the Chancery Court's ruling in Chicago Bridge v. Westinghouse.
WilmerHale
In its sixth annual report on voluntary audit committee reporting to shareholders, Ernst & Young observed "similar increases in voluntary audit-related disclosure as in the past several years...
McDermott Will & Emery
On October 1, 2017, the Delaware Department of Finance published final regulations in the Register of Regulations repealing its former unclaimed property regulations and promulgating...
Jeffer Mangels Butler & Mitchell LLP
On June 13, 2017, the Treasury Department republished Proposed Treasury Regulations regarding the new partnership audit regime enacted as part of the Bipartisan Budget Act of 2015.
Scott & Scott LLP
Schedule P also provides a number of program-specific rules for calculating the number of Processor licenses required for licensed servers.
Jones Day
In 2014, the US FASB issued new revenue standards under ASC 606, Revenue from Contracts with Customers, which essentially replaced existing revenue recognition requirements under U.S. generally accepted accounting principles.
WilmerHale
The staff of the Public Company Accounting Oversight Board recently published a Staff Inspection Brief regarding its 2017 inspections of registered audit firms.
BakerHostetler
Certain entities with 100 or fewer eligible partners/members may elect to opt out of the new partnership audit rules.
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