During my sophomore year in high school, I made the conscious decision that I would never depend on anyone for anything, and I took ownership…
FASB News Trustees Approve 2021 Budget Trustees of the Financial Accounting Foundation (FAF), the parent body of the nation’s two main accounting rulemakers, approved its…
Maurice E. Peloubet
A Life of Impact on Accountancy and Society
In Brief Maurice E. Peloubet was a leader in the field of accountancy during the first half of the last century who contributed to the…
The Life and Career of Colonel Arthur H. Carter
A Leading Accountancy Professional of the 1930s
In Brief Colonel Arthur H. Carter was one of the recognized leaders of the accounting profession during the period of “CPA Movement” in the early…
FASB News Companies Worry Proposal on Franchise Fees Would Unravel Rules A September 2020 proposal from FASB would compromise revenue accounting rules, introducing industry-specific guidance…
ICYMI | The Intersection of Public Accounting and Human Rights
What Is the CPA’s Role?
Whenever speaking publicly on business and human rights, I usually preface my words with the caveat that I am not a lawyer, but a public…
ICYMI | Do Professional Standards Account for Pandemic Risks?
Sustainability Reporting and COVID-19
COSO's Enterprise Risk Management Framework. The GRI Standards. The SASB Standards. The Integrated Reporting Framework. The Sustainable Development Goals. These are the models and metrics…
In Brief The accounting academic and practitioner communities are closely intertwined, making the developments in one discipline of paramount importance to the other. As such,…
FASB News Investors Urge Movement on Government Assistance Project FASB should move ahead with its work to provide accounting disclosure rules around government assistance companies…
ICYMI | The Future of Accounting Education
In-Demand Skills, Workplace Readiness, the 150-Hour Requirement, MAcc Programs, and the CPA Exam
In Brief Changing educational requirements to sit for the CPA Exam are throwing the future of accounting education into doubt. In the years since the…
ICYMI | When Will We Be Able to Breathe in Accounting?
Provoking an Honest Conversation about Race and Racism in the Profession
“I can't breathe.” Three words seared into the minds of Black and Brown people in the United States and the world over. We heard George…
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…
FASB News Codification Updated to Streamline Disclosures, Various Rules FASB has issued an update to the U.S. GAAP codification to streamline the disclosure section and…
ICYMI | Addressing the Challenges of Diversity in the Profession
Determinant Factors for the Dearth of Minority CPAs
The dearth of minority CPAs has been a source of concern within the accounting profession for many decades (see Bert N. Mitchell, “The Black Minority…
FASB News FASB Proposes Clarifications to Accounting for Certain Modifications of Forwards and Options FASB has issued a narrow proposal aimed at clarifying and reducing…
Editor's Note: The CPA Journal also interviewed Joseph Dio Guardi about the federal deficit and accountants in public service. An edited print excerpt can be found here…
The CPA Exam Should Adopt Remote Testing
An Imperfect Solution for Unprecedented Times
The CPA exam and certification it leads to remains the premier certification for accountants in public practice. And while passing the exam still confers the…
Teaching at a University
A Symbiotic Relationship
Many CPAs are curious about whether teaching at a university will be a rewarding and fulfilling part of a professional career. In this article, the…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
FASB News New Rules for Long-Term Insurance Need Fixes for Embedded Derivatives, Insurance Sector Says Insurance companies are finding it tougher to account for embedded…
FASB News Multiple Amendments to Standards Represent Continuous Improvement FASB does not find it frustrating to have to amend new accounting rules over and over,…
As the role of CPAs continues to expand, adapting and revising accounting curricula to meet emerging complexities becomes increasingly difficult. One such emerging area is…
The Effect of Sexual Harassment on Internal Audit Risk Assessments
Are You Part of the Solution or Part of the Problem?
Everyone today must ask themselves: Is my workplace at high risk for sexual harassment? In a recent article, USA Today listed over 100 powerful men who have…
Before the coronavirus (COVID-19) pandemic, change was evolving in accounting firms. CPA firms were already seeing a movement away from time-based billing, an increase in…
The Future of Accounting Education
In-Demand Skills, Workplace Readiness, the 150-Hour Requirement, MAcc Programs, and the CPA Exam
In Brief Changing educational requirements to sit for the CPA Exam are throwing the future of accounting education into doubt. In the years since the…
Do Professional Standards Account for Pandemic Risks?
Sustainability Reporting and COVID-19
COSO's Enterprise Risk Management Framework. The GRI Standards. The SASB Standards. The Integrated Reporting Framework. The Sustainable Development Goals. These are the models and metrics…
Does the future look bright for accounting majors? In its 2017 report of accounting enrollment and hiring trends in the public accounting sector, the AICPA's…
FASB News Proposed Improvements for Taxonomy Issued Companies can now weigh in on whether they agree with the proposed technical and other conforming improvements for…
Updating Accounting Education for the ‘CPA Evolution’
A New Framework for a New Licensure Model
In Brief The CPA Evolution initiative is a joint effort between the National Association of State Boards of Accountancy (NASBA) and the AICPA that seeks…
Proposed Regulations Provide Guidance on Deducting Fines and Penalties Paid to the Government
Important Questions Still Remain
Since 1969, Internal Revenue Code (IRC) section 162(f) has disallowed an ordinary and necessary business deduction in computing taxable income for any civil or criminal…