News

The Governmental Accounting Standards Board (GASB) today issued for public feedback a proposed Statement that is designed to improve to key components of the blueprint for state and local government annual financial reports.

GASB issued guidance to help state and local governments apply existing standards to transactions related to coronavirus relief legislation and certain outflows incurred in response to the coronavirus pandemic.

Ahead of the July 14 Primary Runoff Election, Secretary Merrill reminds Alabama voters to apply for an absentee ballot

The Senate on Tuesday approved $370 billion in additional funding for small businesses through programs administered by the U.S. Small Business Administration (SBA) as part of a new COVID-19 pandemic relief bill.

The Governmental Accounting Standards Board (GASB) today proposed to postpone the effective dates of provisions in almost all Statements and Implementation Guides due to be implemented by state and local governments for fiscal years 2019 and later.

Chairman Dave Vaudt and Director David Bean discuss what to look for on GASB current projects and research activities. Also, they highlight a number of current opportunities to share feedback and input with the Board.

Recently, Representatives Kathleen Rice (D-N.Y.) and Andy Barr (R-K.Y.) introduced the Fiscal State of the Nation resolution, H. Con. Res. 68, with 103 additional co-sponsors. It provides “for a joint hearing of the Committees on the Budget of the House of Representatives and the Senate to receive a presentation from the Comptroller General of the United States regarding the audited financial statement of the executive branch.” The resolution ensures that members of Congress are made aware of the information in the federal financial statements and helps them to better understand how current and/or future policy may affect the nation’s long-term fiscal health.

Montgomery, Alabama, May 21, 2019– Members of the Alabama Society of CPAs visited Alabama lawmakers in Washington, D.C. to discuss the accounting profession’s advocacy agenda. The Alabama CPAs were attending the American Institute of CPAs (AICPA) Spring Meeting of Council and Annual Members’ Meeting from May 19-21. The visits to Capitol Hill were a highlight of the AICPA meeting.

Although the federal government shutdown is over, at least temporarily, the AICPA submitted an informative letter to Congress about the long-lasting effect(s) of the five-week shutdown.

On the evening of January 7, the IRS confirmed in a news release that filing season will start on time – January 28 - and that it will be issuing refunds. The IRS also noted it will be recalling a significant portion of its workforce, currently furloughed as part of the government shutdown. The filing deadline remains unchanged.