Accounting Today

The liability method would trump FASB's compromise

Our two preceding columns exposed the weak arguments against expensing options, and then analyzed the incomplete methods that predated the Financial Accounting Standards Board’s March 2004 exposure ...
JD Supra

Personal Liability for Senior Accounting Officers Over Tax Accounting Arrangements— First Court Decision Provides a Cautionary Tale

The UK Senior Accounting Officer (SAO) regime was brought in by the Finance Act 2009 and requires large companies and groups to identify the individual who is responsible for certifying to the UK tax ...
JournalofAccountancy

Accounting for Asset Retirement Obligations

TO PROVIDE BUSINESSES WITH GUIDANCE ON WHEN and how to recognize a liability for asset retirement obligations, FASB issued Statement no. 143, Accounting for Asset Retirement Obligations. The statement ...
JD Supra

Accounting Services Do Not Implicate Professional Liability Policy When Not Performed “for Financial Institutions”

Applying New Jersey law, the United States District Court for the Southern District of Florida has held that an insurer had no duty to defend or indemnify an insured’s subsidiary because the auditing ...
Houston Chronicle

What Causes a Deferred Tax Liability?

A deferred tax liability arises when a company's real-world tax bill is lower than what its financial statements suggest it should be due to differences between tax accounting rules and standard ...