5 tips for effective not-for-profit board oversight

These tips can help boards perform their duties of care, loyalty, and obedience to help not-for-profits thrive.
Source: Journal of Accountancy

Regulations clarify bonus depreciation treatment

The IRS issued final regulations and new proposed regulations on the 100% bonus depreciation deduction that was amended by the law known as the Tax Cuts and Jobs Act.
Source: Journal of Accountancy

7 tips for adopting integrated reporting

As more companies latch on to the importance of long-term value creation, the International Integrated Reporting Council is offering them advice for producing integrated reports.
Source: Journal of Accountancy

FASB makes a second effort to improve balance sheet debt classification

FASB issued a reproposal that is designed to improve guidance used to determine whether debt should be classified as a current or noncurrent liability on a classified balance sheet.
Source: Journal of Accountancy

Proposed regs. clarify reporting requirements for tax-exempt organizations

The rulemaking mainly consolidates existing guidance in one location, but it also responds to a recent court decision that held invalid certain changes to donor-reporting requirements.
Source: Journal of Accountancy

IRS offers expatriate tax relief

The IRS announced procedures to allow certain individuals who have renounced their U.S. citizenship to get into compliance with their US tax obligations and obtain relief for back taxes.
Source: Journal of Accountancy

Tax accounting rules issued for advance payments

Taxpayers that use the accrual method and receive advance payments for good or services were given new rules by the IRS on when to include the advance payments in income.
Source: Journal of Accountancy

FASB proposes guidance to ease transition to new benchmark rates

A proposed Accounting Standards Update would establish temporary guidance designed to reduce the accounting burdens associated with the shift from LIBOR and other interbank-offered interest rates to new reference rates.
Source: Journal of Accountancy

Trade concerns widespread as economic outlook sags

Economic expectations for the United States and the world tumbled in the third quarter amid trade concerns and indications of a possible recession.
Source: Journal of Accountancy

What to do when the cloud goes down

Tech experts weigh in on the steps firms can take to stay productive in the event of a cloud software outage.
Source: Journal of Accountancy