Accounting and tax developments by region, alongside our own articles on crypto accounting, AI in finance, and ESG reporting.
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Latest News
Recent headlines from tax authorities, standard-setters and the accounting press.
A new proposed Accounting Standards Update from the Financial Accounting Standards Board would make targeted improvements to the accounting for equity method investments.
Experienced Wolters Kluwer executive to lead corporate tax as business expands its global indirect tax capabilities.
National Taxpayer Advocate Erin Collins will provide an update on key issues facing taxpayers and practitioners.
The Financial Accounting Standards Board issued a proposed ASU to improve the operability of the accounting for equity method investments.
Support for California’s proposed one-time billionaire tax has fallen to 46%, with 52% opposed, as a new PPIC poll finds several closely watched ballot measures struggling ahead of Election Day.
Europe has been debating its competitiveness problem for years. While other major economies have grown faster, Europe has fallen behind in key technologies, productivity has disappointed, and business…
Government's response to the Social Security Advisory Committee report on how the social security system influences educational and vocational decision-making at age 16.
The board’s review of 2025 public company audit inspections revealed a significant decrease from 2024 in instances where an audit firm failed to obtain sufficient appropriate evidence to support its o…
Knowledge Hub
Articles on crypto accounting, artificial intelligence, ESG reporting, and financial planning.
How Andhra Pradesh's Industrial Development Policy 4.0 and its separate MSME and Entrepreneur Development Policy 4.0 divide the work, and what an MSME can claim under the latter.
A plain-language guide to the incentives in Odisha's Industrial Policy Resolution 2022 for new MSME units: capital investment subsidy, net SGST reimbursement, stamp duty and how to apply.
How the Uttar Pradesh Industrial Investment and Employment Promotion Policy 2022 makes investors pick one of three mutually exclusive options, and why most MSMEs should read the separate UP MSME Policy 2022 instead.
Discover how the Indian Tax Department is deploying Artificial Intelligence and Machine Learning to conduct automated, faceless GST audits and flag ITC discrepancies.
A definitive guide on how cryptocurrency and Virtual Digital Assets (VDAs) are taxed in India. Learn about the 30% flat tax, 1% TDS, and the ban on setting off losses.
A comprehensive guide to Business Responsibility and Sustainability Reporting (BRSR) in India. Learn the applicability limits, BRSR Core framework, and assurance requirements.
A deep dive into government subsidies for Green Energy MSMEs in 2026. Explore how manufacturers of solar PV cells, EV batteries, and circular economy startups can access massive capital grants and PLI benefits.
Master the IFRS 15 (Ind AS 115) 5-Step Model for Revenue from Contracts with Customers. Learn how to identify performance obligations and recognize revenue correctly.
A high-level guide comparing International Financial Reporting Standards (IFRS) with US Generally Accepted Accounting Principles (US GAAP). Learn the differences in LIFO, revenue recognition, and impairment.
A detailed breakdown of the Bihar Industrial Investment Promotion Policy (BIIPP) and how large manufacturers and MSMEs can secure up to 25 acres of free land and high-equity seed support.
Overview of the global trend toward state-guided industrial policy, with $108 billion in annual subsidies reshaping supply chains, strategic capital allocation, and sovereign economic strategy across OECD and emerging economies.
An in-depth analysis of the Maharashtra Industrial Policy 2025 and its strategic shift towards Gross SGST reimbursement, explaining why even developed zones (A & B) are now highly attractive for MSME investments.
Analysis of the 2026 OECD MAGIC database report on global industrial subsidies, showing Chinese manufacturers receive 3x-8x more government support than OECD peers, with subsidies explaining nearly 60% of Chinese market share gains.
A comprehensive comparison of industrial subsidies across major Indian states. Compare capital subsidies, SGST reimbursements, and land rebates in Maharashtra, Gujarat, Tamil Nadu, and Bihar.
A comprehensive guide to Tamil Nadu's industrial policy, detailing the 24 thrust sectors eligible for maximum subsidies, including EVs, Aerospace, and Fintech, and the benefits of the NEEDS scheme.
Comprehensive analysis of the Union Budget 2025-26 provisions for MSMEs. Deep dive into credit access, investment limits, digital public infrastructure, and the government's push to make India a global manufacturing hub.
A comprehensive deep dive into the Viksit Gujarat Industrial Policy 2026. Explore the unique 'Three-Component Mix' of Capital Subsidy, Interest Subsidy, and Power Tariff Support, and how to optimize them for your business.
Explore the most effective AI tools transforming the accounting industry in 2026. Learn how automation is streamlining bookkeeping, audit sampling, and financial forecasting.
Tell me more about accounting for AI-powered businesses, specifically focusing on software development costs and API usage.
How Small and Medium Enterprises (SMEs) can use AI to build real-time, highly accurate cash flow forecasts.
How AI automatically detects hidden errors, anomalies, and material misstatements in financial statements.
Uncover hidden risks in financial statement footnotes using AI-driven Natural Language Processing (NLP) tools.
Explore how traditional Excel-based tasks are being replaced by AI and modern software robots.
Utilizing AI tools to create dynamic financial ratio dashboards and conduct predictive trend analysis.
Discuss how AI is eliminating repetitive data entry tasks and transitioning accountants into strategic advisory roles.
How Wealth Managers and CPAs use AI to integrate client data and develop hyper-personalized financial plans.
How to recognize revenue for multi-year contracts and subscription-based AI models under ASC 606 and IFRS 15.
AI companies' biggest assets are their data and Intellectual Property (IP). How should these be valued and reported?
Explain the complexities of revenue recognition for validators and delegators on Proof-of-Stake blockchains.
Discuss the FASB updates that require certain crypto assets to be measured at fair value under Subtopic 350-60.
Guide professionals on when to derecognize loaned crypto assets or staked tokens, especially in liquid staking protocols.
Analyze the FASB deliberations and SEC staff views on when fiat-backed stablecoins can be classified as cash equivalents.
Explain the Business Responsibility and Sustainability Reporting (BRSR) framework for Indian companies and how it aligns with global standards.
A deep dive into the mandatory disclosure of Scope 1, Scope 2, and Scope 3 greenhouse gas emissions, alongside carbon credit usage.
Discuss the adoption of UK SRS S1 and S2, mirroring the ISSB standards, and the FCA's proposals for mandatory reporting starting in 2027.
A guide on how to combine traditional financial ratios with ESG metrics for sustainable investment analysis.
Decode DuPont Analysis to gain in-depth insights into a company's profitability and operational efficiency.
A 5-step guide to using Monte Carlo simulation for stress testing corporate finance and retirement portfolios.
How to detect corporate financial distress and bankruptcy early using the Altman Z-Score and modified solvency ratios.
Practical steps to implement agile and zero-based budgeting techniques during economic downturns and market shifts.
A deep dive into the complex three-component calculation insurance companies must use to determine the admissibility of their DTAs.
Explain the divergence where IFRS uses a one-step value-in-use test, whereas US GAAP compares fair value directly.
How related party transactions can harm minority shareholders, and how IAS 24 exposes these conflicts of interest.
Discuss why internally generated intangible assets are difficult to capitalize and how they compare to acquired intangibles.
Understand fair value accounting for livestock and crops, and how biological assets can be manipulated, citing real-world fraud cases.
A masterclass on the biggest change to the income statement, mandating Operating, Investing, and Financing categories, and MPM disclosures.
Explain this brand-new standard (effective 2027) that allows eligible subsidiaries to significantly reduce their disclosure burdens.
Guide companies in the utilities and transport sectors on this new accounting model requiring the recognition of regulatory assets and liabilities.
How the shift from the 'incurred loss' model to the 'Expected Credit Loss' (ECL) model helps banks predict future risks.
Highlight the biggest remaining difference: IFRS treats every lease as a finance lease, while US GAAP retains a dual model.
Break down the new conceptual revisions requiring the use of the proportional amortization method for all qualifying tax credit structures.
Explain the massive overhaul in how US insurance entities classify long-term bonds, detailing 'issuer credit obligations' vs 'asset-backed securities'.
Explore the new official CBDT Utility Tool designed to help CAs and tax professionals map old sections of ITA 1961 to the newly renumbered ITA 2025.
Discover how the Income Tax Act 2025 drastically cuts down legal jargon and reduces the number of sections from 819 to 536, easing the cognitive load on taxpayers.
Analyze the sweeping digital search powers granted to tax authorities under Section 247 of the ITA 2025, allowing access to emails, clouds, and social media.
Explore how the Income Tax Act 2025 formally integrates AI, machine learning, and native-digital procedures to cement the Faceless Tax Administration system.
Discover how the Income Tax Act 2025 uses the Annual Information Statement (AIS) to create 99% pre-filled ITRs, simplifying tax filing for millions.
Learn how the Income Tax Act 2025 uses the 'Significant Economic Presence' (SEP) rule to tax foreign tech companies that monetize Indian user data.
These items are published by the named third-party sources and are shown for general information only. The firm does not advise on, or sign, tax returns in jurisdictions outside India.
Contact the firm to discuss how developments apply to your situation in India.