Month: January 2019

Materiality – Standard Setters Revisit This Important Concept

The Financial Accounting Standards Board (FASB) recently amended Statement of Financial Accounting Concepts No. 8, Chapter 3, Qualitative Characteristics of Useful Financial Information. The Concepts Statement provides a foundation from which financial reporting standards are created.  Similarly,...


Tax Policy Under a New Congress

In December 2017, Republicans passed the biggest tax reform legislation since Ronald Reagan signed the Tax Reform Act of 1986. Now, a year later, Democrats have control of the House of Representatives and there is much speculation about what will happen with tax policy in 2019 under the 116th...