The SEC still plans to vote next year on whether to require the use of IFRS, it is "not committed to a June 2011 decision date ... despite a common [misconception by the accounting] profession," SEC Chairman Mary Schapiro said. While affirming the commission's desire to keep moving toward IFRS adoption, the new timeline offered issuers some breathing room from the 2014 deadline originally spelled out in the proposed road map the SEC unveiled in 2008. (Journal of Accountancy)
 

Starting in 2011, Many Paid Preparers Must e-File Federal Returns for Individuals, Estates and Trusts

Starting Jan. 1, 2011, paid preparers who prepare income tax returns for individuals, trusts and estates, such as Forms 1040, 1040A, 1040EZ, and Forms 1041, and who reasonably expect to file 100 or more of these income tax returns in 2011 are specified tax return preparers required to file these returns electronically. (IRS.GOV)
 

FASB develops updates geared toward private companies

The inaugural edition touches on topics that will have a significant impact on the future of accounting.  Topics addressed include Leases, Revenue Recognition, Disclosure about an Employer's Participation in a Multi-employer Plan, and Accounting for Financial Instruments. (FASB)

Exposure Draft - Proposed Changes to UAA and UAA Model Rules 

The AICPA/NABA UAA Committee has worked over the past year to consider guidelines as to what are and what are not misleading CPA firm names.  The proposed changes to the UAA and Model Rules in this exposure draft are the result of these efforts. The proposed changes add a definition of "Network" and "Network Firm" to the Uniform Accountancy Act.  (Draft )

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