FASB's recent work schedule has included proposed improvements to income tax accounting related to the recent tax law changes, the 2018 GAAP financial reporting taxonomy,…
In an interesting recent report, “The Practice of Now,” accounting and business software provider Sage summarized the results of an international survey of accountants on…
The Bureau of Labor Statistics' Occupational Outlook Handbook “Accountants and Auditors” page (http://bit.ly/2AghB1p) indicates that employment within the profession is expected to grow 10% through 2026, faster…
The IRS recently reported (IR-2017-176) a 30% decline in confirmed identity theft returns from 2016 to 2017 and a 40% reduction in taxpayer self-reported identity…
Overcoming Obstacles with the Right Tax Software
2017 Annual Survey of New York State Practitioners
In Brief New York tax practitioners encountered new challenges during the 2017 tax season, most notably meeting the new driver's license reporting requirements and obtaining…
The United States has faced several weather emergencies in 2017, with Hurricanes Harvey and Irma dominating the news cycle in August and September. While life-threatening…
Baruch Lev recently reported in his article, “Surprise: Investors Like Non-GAAP Earnings” (Seeking Alpha, Apr. 6, 2017, http://bit.ly/2uDDqo9) that his analysis of a sample of S&P 500…
An April 2017 commentary by Jean Rogers, CEO of the Sustainability Accounting Standards Board (SASB), in Investor's Business Daily (“Sustainability Accounting Standards Represent Market—Not Regulatory—Forces…
As information providers, accounting professionals are at the forefront of applying new technologies and resources to practice issues. The SEC has made use of data…
According to the U.S. Census Bureau, almost 15% of the U.S. population was 65 or older in 2015 (http://bit.ly/2oEqoBk). The Federal Reserve reports that 20%…
When FASB issued Accounting Standards Update 2016-14, Presentation of Financial Statements for Not-for-Profit Entities (Topic 958), it stated that prior standards “could be improved to…
Insurance companies are firsthand witnesses to losses and lawsuits incurred by professional accounting firms. While insurance companies obviously want to minimize payouts, it is certainly…
CPAs enter 2017 with the responsibility of addressing new accounting and reporting standards in an environment of increased data security necessity and regulatory requirements. When…
The Tax Reform Act of 1986 (TRA) quietly reached its 30th anniversary on October 22, 2016. The TRA was enacted to lower tax rates by…
CPA firm leadership is being stretched on all sides to attract and serve clients, recruit and retain team members, increase firm value and size, and…
New York State CPAs responding to the 2016 annual tax software survey indicated that they made use of a variety of websites (see page 18).…
Top Choices in Tax Software
2016 Annual Survey of New York State Practitioners
In Brief New York State CPAs faced significant challenges during the 2016 tax season, but maintained their focus on serving their clients. Tax preparation and…
State and local taxes (SALT) is an important practice area for many CPAs, as well as a significant decision factor for many companies. SALT professionals…
Giving some serious thought to women's financial planning issues can be beneficial to both CPAs and their female clients. When advising married couples, it is…
Many CPA candidates will find it advantageous to investigate which resources exist to help them pass the CPA exam. The majority of the best resources…
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…
Governance, risk management, and compliance (GRC) represents a coordinated approach to achieve efficiencies in an organization's activities of corporate governance, risk management, and compliance with…
Audit Analytics is an independent research firm that provides customized databases for audit, regulatory, and disclosure applications. Its website (http://www.auditanalytics.com) allows access to data on…
The 2015 Annual Survey of New York State Practitioners, published in the November 2015 issue, revealed that free tax research tools have become increasingly popular…