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…
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 | 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…
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,…
Online Accounting Courses
Transition and Emerging Issues
Due to the effects of the worldwide coronavirus (COVID-19) pandemic, accounting professors have been forced to navigate the complexities of teaching in a nontraditional format…
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…
ON April 3, 2020, Governor Andrew M. Cuomo signed into law the New York State 2020/21 Budget, which contains several key tax measures related to…
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…
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…
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…
Estate Tax Advice Today
The Impact of Coronavirus, the CARES Act, Low Interest Rates, and Market Declines
In Brief The COVID-19 pandemic has put the economy in a precarious state, but certain effects of the downturn, such as historically low interest rates…
FASB News Golden Outlines Board’s Standards Setting Plans Prior to Departure FASB Chairman Russell Golden said the board will determine whether to finalize a proposal…
These are extraordinary times with extraordinary challenges. We fear for our safety and the safety of those we love, for the stability of our country…
PPP Payback Deadline May Have Unintended Consequences
CPAs Should Revisit Advice Given to Clients
To supplement its Payroll Protection Program (PPP) Rules, the Small Business Administration (SBA) regularly issues PPP frequently asked questions (FAQ) in numerical order, easily found…