Accounting
Top stories summarized by our editors
6/28/2017

Large companies are among those rushing to react to another cyberextortion campaign spread via a virus called Petya. Researchers have found that creating a read-only file and placing it in the C:\Windows folder stops the attack on a particular computer. CPAs might want to explore the AICPA's new cybersecurity risk-management reporting framework, which helps them report on clients' cybersecurity risk-management programs.

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risk management, AICPA
6/28/2017

Technical corrections proposed by the Financial Accounting Standards Board would affect accounting guidance for certain bad debt reserves of savings and loans and for steamship entities.

6/28/2017

Credit reports will no longer contain most civil judgments and at least half of tax liens, which FICO formula provider Fair Isaac expects to affect about 7% of the 220 million people in the US with credit reports. Major credit reporting agencies will start implementing the changes Saturday.

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Fair Isaac
6/28/2017

The Tax Court has held that owners of the Boston Bruins can deduct the full cost of their team's pregame meals for away games as a de minimis fringe benefit, rejecting the Internal Revenue Service's argument that the meals are subject to a 50% limitation on the cost of food or beverages.

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Boston Bruins, Tax Court, IRS
6/28/2017

Fortune's list of the 100 best workplaces for millennials includes representation from the public accounting and consulting fields. Keys to recruiting and retaining millennials include helping them understand the value of their contributions and giving them chances to learn and develop, experts say.

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Fortune
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Fortune
6/28/2017

Understanding what motivates volunteers is the first step toward helping them have a great experience assisting a not-for-profit. Here's how to help volunteers apply their skills to maximum effect.

6/27/2017

The seven sins of decision-making include fear of failure, poor communication and not establishing an effective decision-making process, all of which can discourage and scatter talented employees, writes Alaina Love. A company may be guilty of these blunders when decisions are delayed or struck down, employees are punished for wrong choices or those in customer-facing positions aren't able to quickly address issues.

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SmartBrief/Leadership
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Alaina Love
6/27/2017

An effective data and analytics program should be integrated into every department. To reach that ideal, companies should focus on people and processes, as well as technology, and ensure a deep commitment to the project among top executives.

6/27/2017

Recent research reveals that when planning for retirement, retirees might not need as much as they think to maintain a certain standard of living. By understanding why, CPAs can help clients achieve retirement-savings goals.

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AICPA Insights