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Breakfast Club - Market Outlook and Your Taxes
Come join us on February 2, 2012 to get an overview of the market outlook for 2012, what the tax law is for 2011 and what might change in 2012 given that is an election year.
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Fair Value Measurements May Become More Fair for Nonpublic Companies
The Board meeting of the Financial Accounting Standards Board (FASB) on November 22, 2011 could lead to less stringent fair value measurement requirements for nonprofits and nonpublic companies in early 2012. Currently, private companies are required to disclose the basis for valuing Level 3 measurements on the fair value hierarchy, which encompass “significant unobservable inputs” as defined by FASB. The discussion deliberated by Board members was whether or not to continue to require the disclosure of these measurements, as they impose significant costs on private entities.
13.1.2012 More
AICPA Raises Concerns about Mandatory Audit Firm Rotation
During August 2011, the Public Companies Accounting Oversight Board (PCAOB) voted to issue a concept release regarding possible mandatory limits on audit firm tenure with public companies. The board is focusing on the advantages and disadvantages of audit terms of 10 years or greater.
7.1.2012 More
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