The Financial Accounting Standards Board released new guidance on accounting for related-party arrangements between entities under common control. This long-awaited ASC 842 guidance provides a practical expedient for arrangements between entities under common control.

More companies are providing formal environmental, social, and governance (ESG) reports to fortify company strategy, attract consumers and investors, and retain talent. It is a business dimension that offers a growth opportunity.

At a Feb. 21, 2023, meeting, AICPA's Professional Ethics Executive Committee discussed a recently issued exposure draft from the International Ethics Standards Board for Accountants proposing revisions to the Code of Professional Conduct for Tax Planning. It is important to keep an eye on these discussions because the AICPA is a member of the International Federation of Accountants, so it is required to maintain substantially similar codes of professional conduct.

The PICPA government relations team has been working on major legislative changes to Pennsylvania’s CPA Law for years. On Nov. 3, Gov. Tom Wolf signed the legislation, making vital updates to the law that governs the profession and impacts so many functions.

A human resources business partner (HRBP) is professional who helps align an organization’s people strategy with its business strategy. They coach, advise, counsel, support, brainstorm, and implement processes with the business operations team leader. Do you have an HRBP or something less at your company?

The finance department is often the unsung champion behind many financial projects. On the flip side, the department can feel a lot of heat too, especially when staffing goes down. The key to staff retention and keeping the heat down may be in recognizing when it is time to bring in external support.

The pool of available accounting professionals will continue to tighten. Technology and automation is one of the ways firms can keep growing and meeting client needs without burning out staff.

Technology has vastly changed since the Gramm-Leach-Bliley Act's Safeguard Rule was first established in 2003, so the Federal Trade Commission amended the rule in 2022 to keep up with the times. Some of the changes took effect in late 2022, with the remaining changes to be effective as of June 9, 2023. Accounting practices of every size need to be aware of the changes.

Applying sales and use tax to software purchases in a multijurisdictional setting has long been perplexing to businesses and tax professionals alike. The complexity has only grown with the evolution of software. In Pennsylvania, the Department of Revenue has historically treated the purchase of software as the purchase of tangible personal property, but the sourcing has changed multiple times over the years and it can be hard to keep it all straight.

Making sure personal information remains safe is a vital issue of concern in today’s cyberlandscape. Websites serving commerce, government, banking, among others all require personal information to be entered, all of which can be stolen if an attacker breaches a website.

The 2017 Tax Cuts and Jobs Act made several changes to IRC Section 174 that took effect with tax year 2022. EPSA can help fill you in on what these changes are and what they mean to the R&D tax credit.

Applying sales and use tax to software purchases in a multijurisdictional setting has long been perplexing to businesses and tax professionals alike. The complexity has only grown with the evolution of software. In Pennsylvania, the Department of Revenue has historically treated the purchase of software as the purchase of tangible personal property, but the sourcing has changed multiple times over the years and it can be hard to keep it all straight.