FASB Simplifies Guidance for Inventory Measurement
(Accounting Web) As part of its simplification initiative, the Financial Accounting Standards Board (FASB) issued new guidance on July 22 that is intended to make the measurement of inventory in financial statements less complex.
IRS permits accrual-basis taxpayers to adopt safe harbor for ratable service contracts
(JoA) Qualifying accrual-basis taxpayers will be allowed to treat economic performance of certain service contracts as occurring on a ratable basis under a safe harbor introduced by the Internal Revenue Service on Thursday. This will allow taxpayers to expense the cost of regular and routine services as the services are provided under the contract.
A look at Hillary Clintons 2007-2014 federal tax returns
(Fox Business) Federal income tax returns from 2007 through 2014 for Hillary Rodham Clinton and her husband, former President Bill Clinton, show a surge in earnings in recent years and provide new details on aspects of their business dealings.
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