In a historical gathering, the first annual NYSSCPA–Hedge Fund Roundtable Sustainability Investment Leadership Conference on May 6, 2016, brought together some of the world's foremost…
For the past few years, The CPA Journal has drawn attention to the new but growing field of sustainability reporting and assurance by devoting a…
FASB’s New Standard for Classifying Deferred Taxes
An Expedient Solution
For companies issuing classified balance sheets, current U.S. GAAP requires deferred taxes to be reported in two amounts (i.e., the net current deferred tax asset…
I've written and talked at length, in this column and in discussions with accounting thought leaders across the country, about the transformation taking place at…
As recent natural and man-made disasters have made clear, CPAs are frequently required to prepare a business interruption insurance claim for their clients. In addition,…
Personal Disaster Recovery Plans
Helping Individuals when Tragedy Occurs
Fire, flood, or sudden departure of key personnel can all wreak havoc on a business, and CPAs routinely advise business clients to prepare disaster recovery…
Despite medical marijuana legalization prevailing in nearly one-half of the 50 states, the U.S. Congress and the federal court system have not embraced this nascent…
OVDP and the IRS’s New Streamlined Filing Procedures
Look Before You Leap
The IRS's Offshore Voluntary Disclosure Program (OVDP) is designed to assist U.S. taxpayers who have failed to properly report or pay income taxes on offshore…
Excessive fee litigation and class action settlements increased significantly in 2014 and 2015. These decisions and negotiations will encourage more claims against retirement plan committees…
SLT | New York’s Enhanced Collection Procedures for Delinquent Taxpayers
Driver’s License Suspension Program
New York State tax law now provides the New York State Department of Taxation and Finance (DTF) with a new enforcement tool to assist in…
TPP | Filing Amended and Current Returns in Cases of Past Noncompliance
How Not to Make Matters Worse
When a CPA discovers a taxpayer's past noncompliance, there are both ethical and practical questions to answer. The last thing a CPA should want to…
In mid-2013, the SEC established the Financial Reporting and Audit Task Force, which in part was formed to spearhead the Division of Enforcement's efforts to…
Old Habits Are Hard to Break
The Expectation Gap and the Case against Careless Use of Outdated Language
“For in spite of language, in spite of intelligence and intuition and sympathy, one can never really communicate anything to anybody.” —Aldous Huxley, “Sermons in…
The complexity and rate of change in today's business environment requires businesses to manage multiple projects at all times. A study by the Project Management…
Audit committees and the financial executives who interface with them (e.g., CFOs, controllers, CPAs, internal auditors, business line managers) continue to devote significant attention to…
In Brief The sharing economy and mobile commerce are becoming popular ways of conducting business. This article explains the Internet-based economy and the mobile accounting…
In Brief The proliferation of smartphones, tablets, and other mobile devices has changed the way businesses gather and process information, and CPAs are no exception.…
In Brief As the U.S. economy continues to recover from the Great Recession, new technological developments are once again accelerating, as is corporate adoption of…
This month marks our annual technology issue. Technology advances present new capabilities for businesses, but, increasingly, they also represent increased complexity, risk, and potential liability.…
TPP | Filing Amended and Current Returns in Cases of Past Noncompliance: How Not to Make Matters Worse
2016 Max Block Award Honorable Mention in the Area of Departments/Columns
When a CPA discovers a taxpayer's past noncompliance, there are both ethical and practical questions to answer. The last thing a CPA should want to…
A Unique Gift-in-Kind Promotional Opportunity for Not-For-Profits
Public Service Announcements
In Brief In 2014, according to Nielsen Media Research, broad-cast stations donated more than $2 billion of free air-time to air public service announcements. The…
This issue focuses on accounting, auditing, taxation, and management issues specific to the not-for-profit and government sectors. Although these entities present unique challenges to the…
I just read the article by Arthur Radin and Miriam Katowitz, “Have Audits Become Too Inefficient and Expensive?” Both of them are absolutely correct. Performing…
In their article, “Have Audits Become Too Inefficient and Expensive?” (The CPA Journal, February 2016, pp. 18-23), Arthur Radin and Miriam Katowitz have explored an…
Overtime Pay for Staff Accountants I read with interest the article regarding overtime pay for staff accountants (The CPA Journal, December 2015, pp. 52–56). My…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
The Association of Government Accountants (AGA) is a nonprofit professional organization for accountants employed in federal, state, local, and international government financial management. Its website…
Turning Tax Refunds into Retirement Savings
The Treasury’s New my RA
CPAs know that tax refunds are the largest sums of money that some people will receive all year, so tax season is a great time…
Changes to Social Security Have Tax Implications for Married Couples
Recent Legislation Eliminates Loopholes
As a bargaining tool used to expedite the passage of the Bipartisan Budget Act of 2015, Congress tightened Social Security loopholes for married couples, which…