- Recent communications by the Federal Reserve Board Federal Open Market Committee (FOMC) have set the stage for increases in interest rates in mid to late 2015. As the domestic economy continues to demonstrate fundamental signs of a sustained recovery, including modest price increases and wage gains, few have challenged the merit of increasing interest rates in the near term.
- One of the most discussed areas of change as a result of the Uniform Guidance is to the requirements surrounding tracking and reporting of payroll related costs, or time and effort reporting.
- On March 11, 2015, the Financial Accounting Standards Board (FASB) made some important decisions about the ongoing project, Insurance-Disclosures about Short Duration Contracts.
- New accounting method change procedures will help small businesses comply with repair and maintenance regulations.
- Two new revenue procedures mean major modifications for accounting method changes.
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