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A Better Way to Gauge Profitability

EXECUTIVE SUMMARY Return-on-equity (ROE) is the correct profit metric to evaluate the performance of a business. However, the primary emphasis on financial ratio analysis must be on operating performance. The “advanced” version of the DuPont model remedies the original model’s failure to cleanly separate the effects of operating and financing...

June 4, 2025

Auditing Standards Board releases consultation paper on its forward strategy

The ASB seeks input on the draft of its 2026–2030 strategic plan. The comment deadline is June 13.

May 30, 2025

PPP expense deductibility and forgiveness raises basis, other issues

The potential for the deductibility of PPP-funded expenses raises some practice questions, and traps for the unwary lurk in the details.

May 21, 2025

Testing

“Lorem ipsum dolor sit amet” is a placeholder text used in design and publishing to fill empty spaces with realistic-looking text. It’s a Latin phrase that translates roughly to “the pain of an average man,” but the exact meaning is lost due to its use as a filler.

May 21, 2025

Private Company Council issues annual report for the first time

The council, which advocates for private companies during FASB’s standard-setting process, shares recent accomplishments and its vision for the future.

April 25, 2025

IRS delays Form 1099-K $600 reporting threshold

The IRS announced late in December that it is delaying the new, lower $600 reporting threshold for third-party settlement organizations so that it will not apply to transactions in 2022.

March 14, 2025

PCAOB offers reporting guidance on a number of fronts

The board offers advice to public company auditors about Form AP, upcoming standards on quality control and confirmation, and in the form of free PCAOB-led forums.

March 14, 2025

IRS to remain at full staff for at least 5 days if government shuts down

Acting IRS commissioner says the agency will use “existing appropriations” to remain open if Congress does not agree to a continuing resolution by the end of Friday.

March 11, 2025

Untangling tariffs: Consumers expected to bear the brunt

The majority of companies represented in a survey said they plan to pass along most, if not all, costs created by tariffs to their customers.

March 10, 2025

AICPA seeks feedback on independence rules related to private equity

In response to increasing private-equity investment in accounting firms, a Professional Ethics Executive Committee (PEEC) task force has issued a discussion memorandum related to independence rules in the AICPA Code of Professional Conduct.

March 8, 2025

AICPA emphasizes importance of a modern IRS in statement

In a statement Friday, CEO Mark Koziel, CPA, CGMA, said the AICPA is discussing the state of the IRS with agency officials in the wake of layoffs. “A modern, functioning IRS is essential for Americans to meet their tax obligations,” the statement said.

March 6, 2025

AICPA applauds Treasury’s suspension of BOI enforcement

A statement Thursday praised Treasury for ” reducing regulatory burden on businesses” and said the “AICPA remains committed to appropriate anti-money laundering policies.

March 6, 2025

Domestic economic sentiment declines 20 percentage points among CPA execs

CPA executives in business and industry have lowered expectations for the U.S. economy and, to a lesser extent, their own organizations, according to a quarterly AICPA & CIMA survey.

March 4, 2025

Proposed model law changes support a new path to CPA licensure

The AICPA and the National Association of State Boards of Accountancy are seeking comments for the next 60 days on an additional CPA pathway and changes to the practice mobility model.

March 3, 2025

Treasury says it won’t enforce BOI fines or penalties against U.S. citizens, businesses

A news release says Treasury won’t enforce fines or penalties against U.S. citizens or domestic reporting companies or their beneficial owners. Treasury will also issue proposed rulemaking to limit beneficial ownership information reporting to foreign reporting companies only.

February 28, 2025