FASB clarifies fair value measurement guidance for equity securities
The FASB has clarified the measurement of the fair value of equity securities subject to contractual restrictions that prohibit the sale of the equity security.
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Manufacturing: The ‘ground zero’ for U.S. supply chain disruptions
How manufacturing companies are navigating supply chain disruptions
Travel industry, expecting busy summer, casts wary eye on inflation
With COVID-19 caseloads easing and consumers flush with savings built up during the
pandemic, the travel industry was anticipating a robust season.
Cybersecurity report reinforces urgency for family office protection
For family offices, RSM’s cybersecurity special report highlights insights, data privacy trends, and tactics organizations can use to strengthen security and privacy programs.
IRS issues stern warning that abusive microcaptive insurance schemes will be aggressively targeted
The IRS has recently announced that it will aggressively review microcaptive insurance arrangements.
States begin to consider digital asset taxation as sessions end
A number of states begin to consider or take steps related to the state taxation of digital assets as the economy for these assets continues to grow.
GASB revises requirements for accounting changes and error corrections
The Governmental Accounting Standards Board (GASB) has released Statement No. 100, Accounting Changes and Error Corrections (Statement 100), which amends GASB Statement No 62.
U.S. employment report for June indicates no recession now
An American economy in free fall does not tend to produce 372,000 jobs in any given month, as the June employment report showed on Friday. The data released by...
GASB revises requirements for compensated absences
The Governmental Accounting Standards Board has released Statement No. 101, Compensated Absences, replacing GASB Statement No. 16, Accounting for Compensated Absences.
Oklahoma proposes phasing out Corporate Income and Franchise Tax
Tax cuts, tax cuts, and more tax cuts. Is now the time for Oklahoma to cut corporate income and franchise taxes?
Economic headwinds: Hospitality
Inflation is hitting the hospitality industry harder than the broader economy.
Cybersecurity governance and the board’s role
The SEC has proposed amendments to its cybersecurity rules for private companies. If enacted, some boards may require cultural and structural changes to address governance gaps.
Chart of the day: Service sector grows at slowest pace in two years
The ISM service index inched down to 55.3 in June, the slowest level of growth in more than two years since May 2020, when it was at 45.2.
Job openings show signs of a slowdown
Job openings declined for the second straight month in May as the Federal Reserve's rate hikes slowed down overall demand.
U.S. June jobs preview: Slower hiring in rate-sensitive industries
We expect the June U.S. employment report to show a total gain of 225,000 jobs, with risk of a stronger pace of hiring and an increase in the unemployment rate to 3.7%.
RSM US Manufacturing Outlook Index shows a slowing industrial sector
Three of the Federal Reserve’s regional manufacturing surveys are now reporting outright contractions and the other two are falling quickly toward contraction.