ASC 740: FASB proposes new income tax disclosures
On March 15, 2023, the Financial Accounting Standards Board (FASB) released a proposed Accounting Standards Updates (proposed ASU) that includes certain amendments to Income Taxes (Topic 740).
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What does SECURE 2.0 mean for small employers?
SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
Taking action: What financial institutions can do in the wake of bank failures
Financial institutions need to understand what led to the recent failures of Silicon Valley Bank, Signature Bank of New York and Silvergate Bank so they can enhance their organizations’ risk management activities and meet increased regulatory expectations while also maintaining customer confidence.
The great deposit migration and emergency borrowing at the Fed discount window
In the past week alone, the Federal Reserve's loans outstanding to the financial system have ballooned to about $318 billion, up from $15 billion a week ago.
Bank Term Funding Program: Government response to the banking crisis
The Bank Term Funding Program gives small and midsize banks the chance to shore up their liquidity.
Initial jobless claims spike to highest level since December
New claims for jobless benefits last week came in hotter than expected at 211,000, significantly higher than the 190,000 of the previous week.
FASB votes to simplify accounting for common control leases
For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
Proposed regulations on using forfeitures in retirement plans
Proposed regulations REG-122286-18, released Feb. 24, provide guidelines for plan administrators to use forfeited amounts in retirement plans.
January’s spending shows a hot economy despite rate hikes
The Fed’s key gauge of inflation—the personal consumption expenditures deflator—rose by 0.6% on the month for both the top-line and the core numbers, bringing the year-over-year inflation to 5.4% and 4.7% for the two series, respectively.
What would happen if the government defaults on its debt?
Policy brinksmanship over lifting the debt ceiling and the threat of default it brings is increasing the cost of doing business and carries far more risk than is commonly acknowledged.
The debt ceiling stand-off: Frequently asked questions
What exactly is the debt ceiling, and other frequently asked questions.
U.S. inventories are growing at twice the rate of sales
The surge in inventories raises the risk that firms will be caught with excess supplies just as demand begins to slow down this year.
Required minimum distributions after SECURE 2.0
SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.
Retirement plan changes for long-term, part-time employees
SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
Retail sales post strong gains in January, though it may not last
Sales increased by 3.0% on the month and by 2.3% if automobiles are excluded, according to the U.S. Census Bureau.
Rising interest payments, deficits and the debt ceiling crisis
The mounting stand-off over raising the federal government’s debt ceiling has put a renewed focus on the rising cost of financing the nation’s debt.