The Tax Cuts and Jobs Act, signed into law on December 22, 2017, has placed a responsibility on companies to understand the various complexities within the law and to assess the accounting and financial reporting impacts on their organizations. For rate-regulated utilities, certain changes in tax law have put a spotlight on the interplay of rate-making and accounting activities. In particular, the reduction of the top corporate income tax rate from 35% to 21% has initiated a cascade of activities for rate-regulated utilities.
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Another quarter end close is in the books (quite literally). Finance, accounting, and tax professionals go through a set of shared experiences in those several critical days surrounding key accounting close windows and reporting deadlines.
Read MoreAs we fire up the grills and bring out the burgers and hot dogs, we also take time to remember those qualities that set the United States apart. Since that summer in 1776, independence has been a core tenet of the psyche of the American identity. But there is something more that sets this country apart: American individualism.
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