News

WASHINGTON — The Internal Revenue Service today advised taxpayers that in most cases they will not have to do anything extra this year to get the economic stimulus payments beginning in May.

The Financial Accounting Standards Board decided in a 5-2 vote at its meeting on February 6, 2008, to approve proposed FASB Staff Position (FSP) No. SOP 07-1-a , Effective Date of AICPA Statement of Position 07-1.

The Financial Accounting Standards Board (FASB) today issued FASB Staff Position (FSP) FIN 48-2, Effective Date of FASB Interpretation No. 48 for Certain Nonpublic Enterprises. The final FSP incorporates changes made to the original Exposure Draft, and defers the effective date of FASB Interpretation 48, Accounting for Uncertainty in Income Taxes, for certain nonpublic enterprises-including nonpublic not-for-profit organizations-to the annual financial statements for fiscal years beginning after December 15, 2007.

The Financial Accounting Standards Board (FASB) today issued FASB Statements No. 141 (revised 2007), Business Combinations, and No. 160, Noncontrolling Interests in Consolidated Financial Statements. Effective for fiscal years beginning after December 15, 2008, the standards will improve, simplify, and converge internationally the accounting for business combinations and the reporting of noncontrolling interests in consolidated financial statements.

AGH recently announced the appointment of Kenneth Breaux, CPA, as director of the firm’s Department of Assurance Services.