Please ensure Javascript is enabled for purposes of website accessibility
September 30, 2023

Accounting News Roundup: FASB Delays Revenue Recognition; SEC Has Its Own Idea for Audit Partner Naming; Taxing Carried Interest | 07.10.15

FASB Agrees to Delay New Revenue-Booking Rules By One Year [WSJ]
Mark your calendars for 2018.

Ex-accounting executive avoids prison in Madoff fraud case [Reuters]
Paul Konigsberg's cooperation and demonstrated "sincere remorse" convinced Judge Laura Taylor Swain to spare him prison. 

Regulators issue competing proposals for audit partner disclosure [MW, Earlier]
The SEC's proposal would require the name of the lead audit to be disclosed in the company's annual proxy statement.

An Income Tax on Carried Interest Couldn’t Be Avoided [DealBook]
Victor Fleischer writes that the government estimates on the money that would be raised from a tax on carried interest are too low. He believes, "the government simply doesn’t know how much carried interest is earned each year." He offers a counter-estimate and shows his work! It's a fascinating write-up for those of you who fancy yourselves tax nerds.

NYSE Says Wednesday Outage Caused by Software Update [WSJ]
We've all been there.

Hey Look the Most Nightmarish Idea for Plane Seating Ever [Wired]
The new configuration conceived (and patented) by Zodiac Seats France takes out the middle seat and replaces it with one that faces the rear of the plane.

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Funny white cat-an athlete in a yellow sports headband, lying with yellow footballs, dumbbells and a yellow alarm clock standing nearby.

Monday Morning Accounting News Brief: PwC Is Turning Work Down?; TIL the President of Nigeria Worked at Deloitte | 9.11.23

Yay it’s Monday again! Praise Pacioli, there’s actually some stuff going on this morning. Meet a 29-year-old accountant whose ‘resentment’ only climbed after her firm raised her salary from $60k to $90k as she made millions for them. She has her own firm now: Stephanie Heredia’s promotion came a year too late and more than […]

Tuesday Morning Accounting News Brief: Getting Roofied at KPMG?; PwC: ‘Burnout Should Be a Concern’ | 9.5.23

Good morning and happy Tuesday. Hope everyone had a nice Labor Day, I had a productive weekend of being AFK at Meat Week (get your minds out of the gutter, it’s Fallout). Let’s get right into it. It is suspected someone spiked a colleague’s drink at a KPMG NZ get together, it isn’t the first […]