Should CPA students no longer have to learn the basics of government accounting? According to a new AICPA exposure draft, Maintaining the Relevance of the Uniform CPA Examination.

In her long and futile search for why she lost the 2016 election, former Democratic presidential nominee Hillary Clinton did manage to find some solace in the areas she carried against President Donald Trump.

If there is a court-supervised process, as with Detroit’s massive municipal bankruptcy that means all creditors will have to see cuts. Including pensioners.

When Illinois legislators approved a $42.8 billion budget … official revenue projections were only for $36.8 billion. Lawmakers weren’t worried about the resulting deficit, however, because they assumed the state would borrow at least $5 billion to close the revenue gap.

The $3 trillion Heroes Act has passed the House of Representatives and awaits a vote in the Senate. The law would provide $1 trillion of federal aid to state and local governments. 

As state finances across America are upended by the coronavirus, almost all of them face the same, self-imposed, problem: How to balance their budgets.
 

While the pandemic blows holes in city budgets across the nation, a new report released this month shows San Jose was already financially struggling before the coronavirus collapsed local economies.

They have put out a new report at the city level, big cities, including Chicago, and what the picture looks like for those cities. 

At the top of Illinois lawmakers’ agenda as they return to Springfield is crafting a budget in the midst of record revenue shortfalls inflicted by the COVID-19-related shutdowns. 

In response to the severity of the COVID-19 pandemic and the economic impact of social distancing, Congress has enacted four major legislative packages providing trillions of dollars in aid.

While the attention of many is on efforts to Reopen Illinois' economy, Shelia Weinberg's focused on the growing evidence of Illinois' financial stability being in danger of collapse.

In his daily coronavirus briefings, Gov. J.B. Pritzker has touted that Illinois was in good financial shape before the current crisis hit. 

As terribly horrible are the health and economic outcomes of COVID-19, this crisis provides Congress with a unique opportunity to not just help states and local governments’ short-term financial needs, but to provide some much-needed guidance.