Income Tax Basis Financial Statements
...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
...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
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
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
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
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
...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
XBRL can applied to a wide range of business applications.
Published on July 15, 2011
Concerns Regarding Comfort Letters/Third Party Verification
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
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
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
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
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
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
Here, the AICPA provides disaster related resources to help those affected by Hurricane Sandy.
Published on December 03, 2012