Accounting news in brief

Go beyond the usual accounting news. Sign up for our Flash Briefing here and access it on your Amazon device today.

IRS gives taxpayers relief from erroneous HSA contributions

The IRS is modifying the annual limitation on deductions for contributions to an HSA allowed for taxpayers with family coverage under a high-deductible health plan for 2018. The new annual limitation is $6,900. Read this Journal of Accountancy article for more information.

How to deal with being viewed as too young for the job
Just because you are younger than others in your office doesn’t mean you are less qualified. Set yourself up for success with these simple tips. Overcome your insecurities; understand others' work habits; recognize the advantages of being young; ask older employees for advice based on their experience; understand the ideal older employee; and remember that appearances matter. Learn more by reading this Financial Management article.

3 focus areas as global M&A accelerates

As the global economy continues to grow, the outlook for cross-border mergers and acquisitions appears especially bright. Last month, the International Monetary Fund predicted that the global economy would grow by 3.9% in 2018, up from 3.8% last year. What can finance professionals do to prepare? Three areas of focus include: Preparing for differing regulations, understanding tax rules of individual countries as well bilateral treaties between nations, and getting integration right. Check out this Financial Management article for details.

FinREC issues 2 revenue recognition working drafts

The AICPA Financial Reporting Executive Committee (FinREC) has published working drafts addressing revenue recognition implementation issues in the gaming and telecommunication industries. Comments are due July 2. Learn more by reading this Journal of Accountancy article.