The Latest

U.S. state and local governments will have to report billions of dollars in health-care liabilities on their balance sheets under an accounting change aimed at improving disclosure of retiree benefits.

According to the second quarter AICPA Economic Outlook Survey released on Tuesday - which polls CEO's, CFO's, and other senior accounting management in the U.S. - executives grew less confident about prospects for the U.S. economy over the past quarter, and are reining in profit and revenue expectations for their organizations in the coming year.

Rothschild Bank AG, the Zurich-based private bank of the Rothschild financial dynasty, became the latest Swiss bank to be fined by the U.S. Justice Department for helping Americans conceal assets offshore.

After serving as managing director of Gumbiner Savett Inc. for nearly a decade, Michael Savoy has decided to step down from his position as the head of the leadership team of the Santa Monica-based firm and will be replaced by Rick Parent.

Private and otherwise illiquid securities have increased in number and complexity in recent years, leading to increased scrutiny from auditors and regulators regarding their valuation.

H&R Block is testing new technology that uses Facebook’s Oculus virtual reality equipment to provide avatars of tax preparers for customers of the future.

Bloomberg BNA Tax & Accounting executive editor George Farrah talks about new features in his company's research products, in an interview with Accounting Today editor-in-chief Dan Hood.

George Farrah, executive editor of Bloomberg BNA Tax & Accounting, discusses changes in the accounting profession and the technology and recruiting strategies used by firms, in an interview with Accounting Today editor-in-chief Dan Hood.

The Internal Revenue Service has released new guidance on penalties for failing to file a foreign bank account report, capping the maximum percentage of the penalty and providing new requirements for documentation and approval by IRS examiners.

Xero kicked off Xerocon, the cloud accounting software provider’s North American user conference, by announcing new partnerships, including relationships with Apple and Avalara.