Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Every CPA understands that “asset allocation” is the determination of which asset classes (e.g., tax-exempt bonds, large cap stocks, international stocks) are included in a…
The disclosure of nonfinancial information took on an increased importance when the European Union issued Directive 2014/95/EU (http://bit.ly/305nwzg) concerning reporting of sustainability information by large…
ICYMI | The Future of Accounting Is Now
Financial Performance Is Linked to Sustainable Growth
A growing body of research indicates that the language people speak could shape the way they think. Might the same be true when it comes…
Although audit practice has been improved over the last 30 years by the incorporation of office software such as Microsoft Excel and Word, working paper…
A previous column discussed the value of data, how it is monetized by bad actors, and how executives typically do not understand the answer to…
At first glance, the Tax Cuts and Jobs Act of 2017 (TCJA) had little direct impact on the tax treatment of charitable giving. Drilling down,…
ICYMI | 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…
The advertising industry has recently earned its place in corporate infamy, as several well-publicized disagreements between the largest agencies in the business and their clients…
California State and Local Tax Update
Economic Nexus and Marketplace Facilitators
The Supreme Court's decision in South Dakota v. Wayfair, Inc. [585 U.S. __, (2018)] has driven the most substantive changes to the state and local tax landscape…
Financial planning services can be a separate service or an add-on to tax or other services. With the Tax Cuts and Jobs Act's (TCJA) simplification…
Changing the Conversation
Redefining How Companies Engage Investors on Sustainability
In 2010, when Ceres released The Ceres Roadmap for Sustainability (https://www.ceres.org/roadmap), sustainable business leaders were easily identified and few in number. Now it is commonplace to find…
ICYMI | The Current State of Sustainability Reporting
A Work in Progress
In Brief Sustainability investing continues to grow in popularity, but the lack of standardization in sustainability reporting poses a challenge for investors wishing to maximize…
In Brief One of the goals of GAAP is to present a full picture of a company's financial situation, but for various reasons, companies often…
Recently, a midsize accounting firm that had prepared financial statements and reports for President Donald Trump and various entities associated with him for many years…
The COSO Internal Control Framework and Sustainability Reporting
The Benefits of Good Governance and Internal Controls
In Brief Even as corporate reporting of sustainability information continues to gain in popularity, the practice still is not standardized, either domestically or globally. While…
How many standards can a sustainability accountant possibly follow? Three dozen comprehensive standards are published by the Global Reporting Initiative (GRI), and 77 industry-specific standards…
ICYMI | Sustainability Assurance Services
From a Niche to the Mainstream
The practice of sustainability reporting—the regular reporting of environmental, social, and governance (ESG) data—is quickly becoming the norm rather than the exception for global companies.…
The Expanding Use of Non-GAAP Financial Measures
Understanding their Utility and Regulatory Limitations
In Brief There is a long history of businesses reporting non-GAAP financial measures, often to highlight a change in operating structure or illuminate the impact…
Until the issuance of Accounting Standards Update (ASU) 2013-07 [which introduced Accounting Standards Codification (ASC) 205-30 and amended other sections, primarily ASC 942-810, 960, 962,…
Substantially all large corporations, both in the United States and internationally, are issuing annual sustainability reports. These reports cover the vast spectrum of social issues…
The Volkswagen Diesel Emissions Scandal and Accountability
Where Were the Auditors and Attorneys during the Sustainability Charade?
In Brief The effects of corporate scandals can reverberate for years. Volkswagen, whose conspiracy to hide the emissions of its diesel engine vehicles was first…
ISM Manufacturing Index There are further signs of a slowing economy in 2019. The Institute for Supply Management (ISM) Manufacturing Index, while still above 50%,…
ICYMI | 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…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
In a speech at Baruch College's 18th Annual Financial Reporting Conference, PCAOB member Kathleen Hamm stated: “Technology offers the promise of combining increased efficiencies with…
Understanding Electronic Medical Records
Reliability and Integrity as Critical Components of Medical Practice Valuation, Profitability, and Compliance
The sale and merger of medical practices into larger medical groups or hospital networks is an ongoing trend that began almost a decade ago. A…
I enjoyed Michael Doron's article in the February CPA Journal (“The PCAOB as Third-party Payer”). The PCAOB as a third-party payer is—as the article correctly puts it—an…
ICYMI | Enterprise Technology Risk in a New COSO ERM World
Eight Challenges Facing Management
The release of the revised Committee of Sponsoring Organizations (COSO) Enterprise Risk Management—Integrated Framework could not have come at a better time for technology risk professionals and…
Recently, The CPA Journal interviewed Joseph DioGuardi, the first practicing CPA elected to Congress, representing New York’s 20th Congressional district from 1985 to 1989. DioGuardi…