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  • IFRS vs. GAAP: Some public companies want a choice February 17, 2017 U.S. public companies are required to report their financial results using U.S. Generally Accepted Accounting Principles (GAAP). But, since 2007, hundreds of foreign companies listed on U.S. stock markets have ...
  • In pursuit of global convergence in financial reporting February 15, 2017 During her four-year term, Securities and Exchange Commission (SEC) Chair Mary Jo White expressed strong support for global accounting convergence. In January, she issued a 1,600-word statement calling for her ...
  • PCAOB says its rules override Chinese regulations February 15, 2017 Today, many companies operate in more than one country, requiring them to comply with multiple sets of rules and regulations. This can sometimes be challenging for businesses and their advisors. ...
  • Are you purchasing assets or a business? February 15, 2017 On January 5, 2017, the Financial Accounting Standards Board (FASB) published guidance to clear up the existing rules for determining whether the purchase (or sale) of an asset or group ...
  • Final IRS regs kill foreign goodwill exception, limit active trade or business exception February 15, 2017 The IRS issued final regs that affect U.S. taxpayers who transfer property to foreign corporations in nonrecognition transactions. The regs are aimed at preventing taxpayers from avoiding recognition of gains or ...
  • “Google Tax” goes into effect in Russia February 15, 2017 Moscow enacted a law ordering certain foreign companies engaged in online sales of electronic content in Russia to pay the value-added tax (VAT). The law, informally known as the “Google Tax,” ...
  • CRS examines global corporate tax issues on the brink of likely reform February 15, 2017 With Donald Trump firmly in office as the U.S. president, and a Republican majority in Congress, it’s widely expected that 2017 will bring significant tax reform. The Congressional Research Service (CRS) ...
  • An EAP can keep your top players on the floor February 15, 2017 A good basketball team is at its best when its top players are on the floor. Similarly, a company is the most productive, efficient and innovative when its best employees are ...
  • Hardship withdrawal programs require strict administration February 14, 2017 Although not required, most 401(k) plans feature a hardship withdrawal option. The IRS maintains strict rules surrounding these provisions and recently updated its guidance on how plan sponsors can remedy ...
  • COMPLIANCE ALERT February 14, 2017 Upcoming compliance deadlines: 2/15     Quarterly benefit statements due for defined contribution plans with calendar year plans 2/28     Deadline for filing paper 2016 Form 1099 with IRS (electronic filing deadline is March ...