For CPAs, the past three months have seen a wide mix of consequences affecting clients, employers, and colleagues. One thing has been clear: Every business…
ICYMI | Goal Conflict or Goal Confluence?
The Paradigm Shift to Remote Working in the Wake of COVID-19
This article reviews the paradigm of office work, as the traditional form has been disrupted by the COVID-19 pandemic that has required most employees to…
COVID-19 and the ‘Great Lockdown’
Telework Multistate Tax Considerations
The COVID-19 pandemic has had a profound impact on, well, nearly everything, including businesses, individuals, and CPAs grappling with its effects upon state and local…
The COVID-19 pandemic has raised many questions about charitable giving and on the timing of required filings for many exempt organizations. Many of those questions…
The COVID-19 pandemic has caused disruption throughout the world and tragic loss of life. This difficult and uncertain time has produced significant negative impacts on…
It is no secret that CPAs have faced an increasing level of cyber-security threats, even under normal conditions. Audit Analytics reports in its June 2020…
Goal Conflict or Goal Confluence?
The Paradigm Shift to Remote Working in the Wake of COVID-19
This article reviews the paradigm of office work, as the traditional form has been disrupted by the COVID-19 pandemic that has required most employees to…
Eleven Ways to Reboot Business Momentum in the Midst of COVID-19
Taking Stock and Optimizing Opportunities
For CPAs, the past three months have seen a wide mix of consequences affecting clients, employers, and colleagues. One thing has been clear: Every business…
Preparing for Peer Review in a Pandemic
Tailoring Internal Quality Control Inspections for New Risks
In this author's article in the May 2020 CPA Journal (“Financial Reporting and Auditing Implications of the COVID-19 Pandemic: Some Practical Guidance,” pp. 26-33, https://www.cpajournal.com/2020/06/08/financial-reporting-and-auditing-implications-of-the-covid-19-pandemic/), many new…
CECL Encounters a ‘Perfect Storm’
Complexity, Crisis, and Uncertainty
In Brief After years of deliberation and comment, FASB's long-awaited standard on accounting for credit losses, in the form of ASU 2016-13, was finally issued…
The pandemic has put many people and businesses in need of help. The federal government has responded by enacting Economic Impact Payments, Paycheck Protection Program…
In Brief Information security and cybersecurity have been major concerns of business managers for many years. The ongoing coronavirus (COVID-19) pandemic has introduced new challenges…
FASB News Accounting Principle for Identifying Benchmark Interest Rates Expected An accounting principle to aid banks and other corporations in identifying permissible benchmark interest rates…
Accountants have once again been proving that America does indeed count on CPAs, as they have entered uncharted waters to assist both individuals and small…
ICYMI | 401(k) Plan Issues in the Current Environment
Practical and Legal Considerations
This article is intended to address 401(k) plan issues and concerns that develop during periods of economic uncertainty and market volatility, such as the current…
FASB News Simpler Rules Issued for Convertible Instruments, Own Equity On August 5, FASB issued new rules to simplify the accounting for convertible instruments and…
In the early 2000s, as the business world began to return to a more normal mode of operations after the events of September 11, 2001,…
ICYMI | Managing the Going Concern Risk in an Uncertain Environment
An Analysis of Regulatory Guidance and Financial Relief for the COVID-19 Pandemic
In Brief The worldwide COVID-19 pandemic has affected businesses of every size in every country, and the United States has been hit particularly hard. Many…
ICYMI | Financial Reporting and Auditing Implications of the COVID-19 Pandemic
Some Practical Guidance
In Brief The COVID-19 pandemic has disrupted life around the world, but business, in altered fashion, goes on. Companies will have to report on their…
Quarterly Real U.S. GDP Growth The estimates for second quarter GDP growth range from −20% to −51%, with the average from the Blue Chip consensus…
FASB News No New Definition for Joint Ventures A majority of the FASB said it was best not to revise the definition for joint ventures—a…
CPAs are uniquely positioned to assess the impact of coronavirus (COVID-19) on client organizations, employers, and society. The profession continues to contribute to recovery and…
The pandemic has put many people and businesses in need of help. The federal government has responded by enacting Economic Impact Payments, Paycheck Protection Program…
FASB News New Chairman Signals Focus on Maintaining, Improving Existing Rules In an effort to glean insight that would aid in understating the financial reporting…
CPAs have spent much of “busy season” assisting individuals and business with questions about coronavirus-related economic relief, such as stimulus payments and paycheck protection loans.…
Managing the Impact of Cloud Computing
Perspectives on Vulnerabilities, ERM, and Audit Services
In Brief Cloud computing is in the vanguard of a global digital transformation. This article looks at how to identify cloud computing opportunities and operationalize…
IASB News IFRS Foundation to Hold Annual Conference Virtually The IFRS Foundation said it would combine two major annual conferences into one event and hold…
In Brief Public health measures taken to mitigate the spread of the coronavirus (COVID-19) pandemic have upended business operations and processes. Auditing is no exception;…
The COVID-19 pandemic has raised many questions about charitable giving and on the timing of required filings for many exempt organizations. Many of those questions…
COVID-19 and the ‘Great Lockdown’
Telework Multistate Tax Considerations
The COVID-19 pandemic has had a profound impact on, well, nearly everything, including businesses, individuals, and CPAs grappling with its effects upon state and local…