How to make FASB's not-for-profit standard operational | FASB hedge accounting proposal aims for risk management transparency | Transfers of pension risk to annuities become more popular
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September 21, 2016
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Accounting and Reporting Update
How to overcome intercompany accounting challenges
Intercompany accounting can be challenging, in part because the different legal entities that make up a business may use a wide variety of software, according to a Deloitte poll. Here are five best practices for overcoming intercompany accounting problems, beginning with creating standardized global policies.
CGMA Magazine online (8/26) 
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How to make FASB's not-for-profit standard operational
The Financial Accounting Standards Board recently issued its first major change to not-for-profit accounting standards since 1993. Here are tips for implementing the new standard.
Journal of Accountancy online (8/23) 
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This white paper from Workiva and Governing magazine examines emerging trends that affect how state and local governments perform financial reporting duties. Issues include revenue volatility, reporting frequency, and emphasis on compliance. Read the article for yourself, and see how you can help your government meet the challenges head on.
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Emerging Trends
Transfers of pension risk to annuities become more popular
More midsize companies are moving pension liabilities off their books by transferring them to annuities sold by insurance companies or making lump-sum distributions to plan participants.
CFO.com (9/9) 
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Tips for better internal controls at small organizations
Strong internal controls are vital for small organizations, and using the framework created by the Committee of Sponsoring Organizations of the Treadway Commission can help these entities manage risk. Companies can get started by setting the right organizational tone, giving employees a way to raise concerns and making relationship-building a priority.
CGMA Magazine online (9/7) 
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Free report: Overtime changes and impact on payroll
Millions of workers will be eligible for overtime pay effective Dec. 1, 2016. As an employer or HR professional, you will need to be aware of exemption guidance, record requirements, advice for clients, and typical problems in applying overtime pay. Learn more in this sponsored report published in the September Journal of Accountancy. Free report>
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Tax Corner
Warren calls for overhaul of corporate tax code
Sen. Elizabeth Warren, D-Mass., used an op-ed to call for a tax overhaul after the EU determined Apple had received $14.5 billion in improper tax breaks from Ireland. Warren suggested a three-pronged approach to changing corporate taxes and argued that the current tax code has allowed corporations to "shirk their obligations for decades."
The Hill (9/8) 
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Over one million financial leaders read SmartBrief
SmartBrief helps marketers reach over one million financial business leaders daily. Whether you need to showcase your brand, position your thought leadership, or drive demand, we have an advertising solution to meet the need. Download our Industry Media Kit.
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Leadership Lessons and Tips
Measuring the value of intellectual capital
Modern companies have value that extends far beyond their physical assets, but corporate books don't always do a good job of capturing intellectual capital. Consultants have created an "intellectual capital index" that seeks to quantify how much of a company's value is tied up in these intangible assets.
CFO.com (9/1) 
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How to reshape your organization for the future
Executives who inherit leadership positions need to get things done while gradually reshaping the organizational structure to meet their vision of the future. This article offers answers to common organizational questions and provides guidance on how to make the transition.
Deloitte University Press (8/31) 
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Tech Topics
4 tips for leading technical teams
Leading a team of developers can be difficult if you lack technical expertise. To address this, managers need to explain their decisions clearly and with a focused plan, and they need to learn as much as possible about the technical side of things. Smart Like How (7/19)
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Hackers go after high-ranking execs
Hackers are targeting CEOs and other high-value targets in financial scams by sending legitimate-looking requests for information or funds. Organizations can protect themselves by updating cybersecurity products and educating employees to be skeptical of suspicious emails.
SHRM Online (9/6) 
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Regulatory Developments
Understanding the SEC's enforcement activities
The Securities and Exchange Commission is now better positioned to tackle fraud than it was before the financial crisis, said Andrew Ceresney, director of the Division of Enforcement. In this interview, Ceresney discusses the changing nature of enforcement and the SEC's use of data to fight financial crime.
Financial-Planning.com (8/16) 
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AICPA News
Preparing for M&A Transactions: Strategies for Financial Executives Webcast -- Sept. 29
Join us Sept. 29 at 12 p.m. ET for this webcast as a group of mergers-and-acquisitions panelists discuss lessons learned and best practices. Review the pitfalls to avoid and steps to take to prepare for changes resulting from M&A. CGMA designation holders will earn one free CPE credit.
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Register Today for the AICPA Controllers Conference -- Nov. 10-11 in Las Vegas
Join peers who know the opportunities and challenges you face and have the answers you need during the 2016 AICPA Controllers Conference. This event addresses the responsibilities shared by controllers, across industries nationwide, for a learning experience that targets your specific goals and interests. Early Bird Expires Sept. 26.
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AICPA Conference on Current SEC and PCAOB Developments -- Dec. 5-7 in Washington, D.C.
The 2016 AICPA Conference on Current SEC and PCAOB Developments is your source for the latest in accounting and reporting guidance, leading to confident, informed decision-making. With content specific to SEC-reporting companies and their auditors, the conference provides a high-level overview and the practical details -- both delivered firsthand by policymakers, regulators and industry experts.
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The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations and federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.
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