AICPA News.

FINREC SEEKING COMMENTS ON PROPOSED GUIDANCE

The AICPA's Financial Reporting Executive Committee (FinREC) issued a working draft of the AICPA Accounting and Valuation Guide, Business Combinations, which provides guidance and illustrations regarding the accounting and valuation considerations for business combination transactions.

FinREC is seeking comments on the proposed guidance (aicpa.org/resources/download/working-draft-of-business-combinations-accounting-and-valuation-guide), which addresses many accounting and valuation issues that have emerged over time and will help preparers, auditors and valuation specialists understand and comply with the requirements of FASB ASC Topic 805, Business Combinations, and FASB ASC Topic 820, Fair Value Measurement.

Comments can be emailed to Yelena.Mishkevich@aicpa-cima.com. The comment deadline is Jan. 15.

PROPOSED STANDARDS FOR TAX SERVICES CHANGES RELEASED FOR COMMENT

The AICPA has released proposed revisions to the Statements on Standards for Tax Services (SSTSs) for public comment. The proposed changes include revisions to the existing standards and three new standards. Additionally, there is an invitation to...