News

A proposed guide published by the Governmental Accounting Standards Board would provide state and local governments with questions and answers to guide implementation of the board's new standard on accounting for fiduciary activities.

Under a proposal issued by the Financial Accounting Standards Board, not-for-profits would be able to take advantage of private-company GAAP alternatives for accounting for goodwill and accounting for intangible assets in a business combination.

Parking benefits that nonprofits, such as churches and synagogues, offer employees are taxable as part of the Tax Cuts and Jobs Act. Here is a closer look at the tax and a sample method for determining how much a nonprofit might have to pay.

The Internal Revenue Service today issued interim guidance regarding the treatment of qualified transportation fringe benefit expenses paid or incurred after Dec. 31, 2017.

The IRS has launched an easy-to-use webpage, IRS.gov/taxreform.

The Government Accountability Office's Government Auditing Standards have been revised. Key changes were made to the format, auditor independence rules and CPE guidance.

This article discusses what municipalities can do to prevent embezzlement and what CPAs and auditors can do to assist them.

Two Governmental Accounting Standards Board proposals issued Friday aim to improve the financial reporting model and provide new guidance for the board in developing standards on recognition in state and local government financial statements.

FASB on Thursday issued an Accounting Standards Update clarifying when a transfer of cash or other assets received and made, primarily by not-for-profits, qualifies as a contribution or an exchange transaction.

Total US charitable giving reached a new high last year, $410 billion, according to the Giving USA Foundation.