Financial Reporting

Now is a great time to sort out any anomalies that could complicate year-end and W-2 processing. And two of the most common are overpayments and repayments.

Anyone who has been hired into the controller position for the first time may feel overwhelmed, since the job description involves an enormous range of responsibilities.

Those who paid regular employees or used a contractor for more than $600 in work have until Jan. 31, 2014, to provide the appropriate wage and income reporting form – a W-2 or 1099-MISC – to all recipients. For those who procrastinate, sorting through the various IRS reporting requirements at the last minute can make a tight deadline even more stressful.

Online accounting software maker Xero has released a new collection of critical tips and advice from accountants that is designed to help small businesses improve operations in 2014.

The Financial Accounting Foundation (FAF) today released an updated print edition of the Financial Accounting Standards Board’s FASB Accounting Standards Codification, the single, authoritative source of U.S. Generally Accepted Accounting Principles (U.S. GAAP) for public and private companies and not-for-profit organizations.

As Australia assumes the presidency of the G-20 for 2014, IFAC reiterated its call on global policymakers to refocus on regulatory convergence, and said their failure to do so is stifling business confidence, economic stability, and ambitions for a sustainable recovery.

Returns, rewards, whatever you call them, most people want to make something off of the money or effort they provide to a venture. And it’s human nature to try to get the greatest reward on the smallest input possible.

The Financial Accounting Foundation has named investor Ann M. Spruill to its Board of Trustees.