An AICPA survey finds "a resurgent sense of optimism about the economy overall, despite the deep pain that remains in key sectors and industries."
But even amid the current surge in COVID-19 cases, an AICPA survey found executives had an improved outlook on the U.S. economy.
A questionnaire asking borrowers to justify their $2 million-plus Paycheck Protection Program loans is confusing and burdensome, says the AICPA.
The board will assess whether it should change its standard to reflect the growing use of technology-based auditing tools.
"We’re digging out of a very deep hole of pessimism. Comparisons are still tracking with the years immediately following the Great Recession."
The recommended lending facility would provide loans to small businesses that pledge their future receivables.
“Small businesses need to make payroll now — the clock is ticking.”
Regulators and standard setters have increasingly turned up the heat on PE and VC managers over the past several years.
FASB members voted unanimously to propose moving back the effective date for lease accounting and two other major new accounting standards.
FASB should postpone the effective date of the “significant and complex” ASC 842 for a year for private companies, AICPA says.
Trade tensions and the China slowdown "have contributed to a sense of uncertainty and pessimism about the global economy," AICPA says.
Should appraisers of business assets have to be accountants? Robert Pozen says the attempt to push such a requirement is misguided.
