September 10, 2012
FASB Tackles Financial Statement DisclosuresFASB Tackles Financial Statement Disclosures
With an objective of making financial statement disclosures more effective, the Financial Accounting Standards Board has issued a Discussion Paper outlining a potential disclosure framework. The Discussion Paper, which applies to public, private, and not-for-profit entities, is the first step in soliciting input from a broad audience on ways to improve financial statement disclosures.

IRS Makes Interim Changes to ITIN Process

As part of a comprehensive review, IRS recently issued new procedures that will make it more difficult for individuals and acceptance agents to obtain Individual Tax Identification Numbers. These new procedures became effective on June 22, the date of issuance, and will be applicable only through the end of 2012.

ED Schedules Fall Webinar Training Series

The Department of Education has released the schedule for its Federal Student Aid fall webinar series. The 90-minute presentations will cover return of Title IV calculations for modules as well as other topics of interest to business officers. The sessions are free, but advance registration is required.

2012 Tuition Discounting Study Launches September 24

The 2012 Tuition Discounting Study will be launched September 24. Private, four-year colleges and universities that are members of NACUBO have received a pre-launch announcement about the survey and have had a chance to designate an alternative contact.

FCC Reminds Institutions to Report the Use of Selected Frequencies

Colleges and universities that operate in-house non-cable television systems should ensure that they are complying with Federal Communications Commission reporting and safety requirements if they operate in certain frequency bands also used for aeronautical communications.

Court Battle over Gainful Employment Continues

The Department of Education has filed a motion asking the court that overturned much of its gainful employment rules to reinstate the reporting requirements, saying that they are necessary to the disclosure rules the court left in force. The plaintiff in the suit, an association representing for-profit colleges, disagrees.

 

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