On December 20, 2017, Congress passed the Tax Cuts and Jobs Act (H.R. 1) designed to cut taxes on individuals and businesses, stimulate the economy,…
Deep Dive on the Tax Cuts and Jobs Act
QBI Deduction Issues for Professionals
Most attorneys, accountants, and other professionals operate as unincorporated sole practitioners, or through partnerships and limited liability partnerships (LLP), making them owners of pass-through entities.…
Buying or selling a home is one of the most significant financial transactions many individuals engage in. The authors examine the various ways in which…
In Brief How much practical experience an accounting professor needs to be an effective educator has been a longstanding question within the accounting academy. Research…
New Jersey’s 2019 State Budget
Significant Tax Changes and an Amnesty Program
On July 1, New Jersey Governor Phil Murphy (D) signed the state's fiscal year 2019 budget after long negotiations with the legislature. Below is a…
ICYMI | How Online Learning Compares to the Traditional Classroom
Measuring Accounting Course Outcomes
In Brief As the popularity of online instruction spreads, many have questioned whether the method produces similar outcomes to the traditional classroom. The authors surveyed…
In January 2017, FASB issued Accounting Standards Update (ASU) 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminated the calculation of implied…
In Brief As the demands placed on professionals in all fields continue to change rapidly, particular attention has been paid to accounting education programs. There…
On November 2, 2015, Congress enacted the Bipartisan Budget Act of 2015 (BBA), which contained sweeping changes to the Internal Revenue Code's (IRC) partnership audit,…
One common challenge facing educators is determining how best to involve and actively engage students so they will do the work necessary to be successful…
A fter a nearly 10-year collaboration to develop a converged standard on leasing, on Jan. 13, 2016, the IASB issued IFRS 16, Leases, and on Feb. 25,…
Much has changed since the PCAOB began its inspection program in 2004. In just the last 10 years, the number of auditing firms registered with…
A report on research into the effect of audit committees in the March 2018 CPA Journal (April Klein, “Questioning the Effectiveness of Independent Audit Committees: Does the…
Reporting Undisclosed Foreign Assets
The Clock Is Ticking
On March 13, the IRS announced that it will close the Offshore Voluntary Disclosure Program (OVDP), effective September 28, 2018. In the announcement, the IRS…
The consolidation and reporting of related entities can be a complicated accounting topic, particularly for private companies that use separate legal entities to manage a…
Financial Reporting: Entering Uncharted Waters
Highlights from the 17th Annual Baruch College Financial Reporting Conference
The 17th Annual Financial Reporting Conference, hosted by Baruch College this past May 3, once again brought together regulators, standards setters, preparers, auditors, and users…
Where would I start in talking about sustainability and corporate reporting? First, corporations all over the world identify and understand the key factors behind their…
Few countries can claim that integrated reporting (IR) is common among domestic companies. An exception is South Africa, with many listed and public organizations having…
Most CPA firms today are focusing their efforts on eliminating client interaction. They want clients to drop off their tax info and pick up their…
Sustainable Investing for Institutions
A Case Study
Sustainable investing is at once intuitive and confusing; it seems like the right thing to do, but there are many different ways to do it.…
In Brief As more and more companies begin to devote serious attention to sustainability reporting, many different systems of rating the depth and effectiveness of…
The State of COSO and SASB
A Conversation with Robert B. Hirth, Jr.
In Brief Bob Hirth is the immediate past chair of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), having served from June 2013…
On March 30, Governor Andrew Cuomo and New York State legislators reached an agreement on the state's 2018/19 budget, which the governor executed on April…
ICYMI | The Coming Disruption of Drones, Robots, and Bots
How Will It Affect CPAs and Accounting Practice?
Drones, mechanical robots, and robotic software processes are augmenting, assisting, and, in some cases, replacing human workers in almost every industry. The common assumption that…
In Brief Technology continues to change society at a rapid pace, and accounting and auditing are by no means immune. New technologies are increasingly able…
ICYMI | Deep Learning and the Future of Auditing
How an Evolving Technology Could Transform Analysis and Improve Judgment
In Brief This article introduces deep learning technology—an emerging form of artificial intelligence that can be trained to recognize patterns in vast volumes of data…
Data Visualization Software
An Introduction to Tableau for CPAs
In Brief New software is constantly being developed to help users work with the ever-increasing volume of data produced by businesses. CPAs should be at…
Blockchain Basics and Hands-on Guidance
Taking the Next Step toward Implementation and Adoption
In Brief Since blockchain technology entered the mainstream in 2017, many have questioned its purpose and capabilities. What is blockchain? How does it work? What…
The high costs of long-term care affect an increasing number of individuals and their families. According to Genworth's 2016 Cost of Care Survey (http://bit.ly/2ngymTT), the…
Paid Family Leave Expands in New York
Common Questions about the New Law
Big changes arrived for New Yorkers on January 1, 2018, when the New York Paid Family Leave (NYPFL) benefit went into effect. Called one of…