Income Tax Basis Financial Statements

Article:  ...in compilation engagements relate to the definitions section of the SSARS. For example, there have been several cases where a firm had GAAP basis financial statement titles on income tax basis financ
Published on July 14, 2011

Income Taxes

Article:  ...One of the more common peer review matters related to accounting is accounting for income taxes under FASB Accounting Standards Codification (ASC) 740-10-50. Since the issuance of FIN 48, Accounting for Uncertainty in Income Taxes (as codified
Published on July 28, 2011

Practice Guide on Accounting for Uncertain Tax Positions Under FIN 48

Article:  Practice Guide on Accounting for Uncertain Tax Positions Under FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes
Published on July 19, 2011

Differences Between Financial Accounting and Income Tax Accounting

Publication:  This excerpt from AICPA Audit and Accounting Guide Construction Contractors provides guidance on the differences between financial accounting and income tax accounting
Published on August 27, 2012

Airlines - Leased Property and Equipment

Article:  Aircraft leasing has diversified into a sophisticated financial market, resulting in a number of complex leasing structures and their tax status, because many aircraft leasing structures are designed to transfer tax benefits to the lessor from the airline. This guide excerpt provides more information
Published on October 19, 2011

CPA Compliance Modifications for NYC Form TC309 Accountants Certification

Template:  As a result of the issuance of SAS 122, Clarification and Recodification, the wording of the Tax Commission of the City of New York Form TC309, Accountant's Certification, does not comply with AICPA’s professional standards. Although it was not possible to change Form TC309...
Published on January 04, 2013

Form of a Standard Compilation Report

Article:  ...One of the more common peer review matters identified in compilation engagements is related to firms issuing tax basis financial statements and the compilation report was not modified to reflect the GAAP departure. In the course of compiling the c
Published on July 14, 2011

Benefits and Potential Uses of XBRL

Article:  XBRL can applied to a wide range of business applications.
Published on July 15, 2011

Concerns Regarding Comfort Letters/Third Party Verification

Guidance:  CPAs continue to receive requests from their clients and business partners for comfort letters, or verification letters. The AICPA has gathered these resources to assist members in this request.
Published on May 16, 2013

AICPAs OCBOA 2012 Project - Fact Sheet

FAQ:  On May 23, the AICPA announced it is developing a new other comprehensive basis of accounting for privately held, for-profit small- and medium-sized entities. The new Financial Reporting Framework for Small- and Medium-sized Entities, which will be self-contained, may be used by these businesses when U.S. GAAP financial statements are
Published on October 22, 2012

Expert Panel - Employee Benefit Plans

Article:  The Employee Benefit Plan Expert Panel serves to protect the public interest and serves the needs of AICPA members on financial reporting and audit services for employee benefit plans by bringing together knowledgeable parties in this specialized area. This page contains additional information about the panel.
Published on May 10, 2013

Statement of Cash Flows

Article:  One of the more common peer review matters related to accounting is the statement of cash flows. For example, some companies fail to properly identify certain cash flow items as operating, investing, or financing activities. FASB Accounting Standa
Published on July 22, 2011

Ethics Matters

Article:  Ethical considerations are paramount to a quality audit and the continuing public faith in the profession. The AICPA has gathered resources related to ethical matters in order to keep the profession informed and educated.
Published on December 15, 2011

XBRL Certificate

Article:  Coming Soon – XBRL US GAAP Certificate Program Register now to learn more about the program and the final launch date! The XBRL US GAAP Certificate, a comprehensive online training program developed by the AICPA and XBRL US, is designed to help you b
Published on September 28, 2012

Hurricane Sandy The Profession Responds

Article:  Here, the AICPA provides disaster related resources to help those affected by Hurricane Sandy.
Published on December 03, 2012