FASB News Advisers Offer Tepid Approval on Board Developing Rules for Government Grants FASB’s main advisory body said the board should advance its efforts to…
From Practitioner to Professor
Why Aren’t More Accountants Getting PhDs?
Have you ever thought about becoming an accounting professor? We suspect that many of the readers of The CPA Journal have—67% of accounting practitioners the…
The more I talk to other CPA firms and analyze my own firm, the more I have come to realize that most of our problems…
The accounting profession is well aware of the need to attract and retain new accounting professionals. The AICPA's 2021 Trends: A Report on Accounting Education,…
There are many reasons why CPAs decide to leave public accounting firms. Based on my experience, I believe some of these reasons are personal and…
FASB News Proposed Clarification of Lease Accounting Rules for Subsidiaries Controlled by the Same Parent Company FASB has proposed what could be the eighth round…
The Critical Role of Practitioners in Inspiring Future Accountants
A Collaborative Project to Attract Students to the Profession
In Brief In recent years, declining enrollment in accounting programs has made attracting more high-achieving students into the major and then into the professional pipeline…
The U.S. population is aging, and CPAs should consider this fact in determining which services they can offer and how they will adapt their practices…
Evaluating the CPA Evolution Initiative
If You Build It, Will They Come?
In Brief For the past decade, declining trends in accounting enrollments and CPA candidates have pointed to the need for bold action to rebuild the…
Fixing the Crisis in Accounting
Five Steps to Attracting Tomorrow’s CPAs
The United States is facing an acute shortage of CPAs. In fact, accountants are leaving their jobs in unprecedented numbers (AICPA, 2021 Trends Report, https://bit.ly/3RmyE4T), at…
FASB News Proposed Concepts for Recognizing and Derecognizing Financial Statement Items FASB has issued a proposal for public comment on the concepts it plans to…
Building a Stronger Pipeline
Stacking Pre-CPA Accounting Licenses on the Way to CPA
In Brief Many initiatives have tried to solve the perennial problem of attracting more students to become CPAs. The author believes more innovative approaches are…
SSDI and SSI—Government Programs to Help the Disabled
What CPAs Need to Know to Answer Pressing Questions
The U.S. federal government has a wide range of programs to help those in need, including health insurance for seniors (Medicare), discounted phone and Internet…
The CPA Examination in Evolution
Answering the Call for Change
In Brief The recent CPA Evolution Project represents the accounting profession's attempt to transform the CPA licensure model to fit the skills and competencies that…
Teaching Accounting Students an Alphabet Soup of Technology
Preparing the CPA Evolution and the Digital Workplace
As digital transformation becomes ubiquitous, corporations and firms have digitized business processes at record speed, especially during the COVID-19 pandemic. Disruptive technologies, such as robotic…
FASB News Small Public Filers Urge Efforts on Accounting Rules for Government Grants FASB’s current research on accounting for government grants should be advanced to…
CPAs need to be aware of current tax developments in key states to properly advise clients that are doing business in multiple jurisdictions. As state…
An Update on the Future of Accounting Education
A Pessimistic Outlook Calls for Major Changes
In Brief The future of accounting education has been a topic of concern for the profession's leaders for years in the light of demographic shifts,…
The Inflation Reduction Act of 2022 (IRA; PL 117-169) was signed into law on August 16, 2022. This massive measure, which is intended to tamp…
FASB News Two Standards and Two Proposals Coming by Year-End, Plus a Peak into 2023 For the remainder of this year, FASB plans to publish…
From the very first certified public accountancy law (passed in 1896 in New York State) to the present day, the accounting profession and the nature…
Individual taxpayers have probably noticed that they have been required to answer questions on Form 1040 about virtual currency transactions in recent years. The U.S.…
My daughter is learning about volume and liquid capacity in her math class. She frequently asks me questions like, “How many quarts are in a…
ICYMI | Keynote–Fireside Chat
A Conversation with PCAOB Chair Erica Y. Williams
About the Speaker The conference concluded with a “fireside chat” with newly installed PCAOB chair Erica Y. Williams. Williams was sworn in as the chair of the…
In Brief With new technologies come new forms of assets and, eventually, new rules for the regulation and taxation of such assets. Beyond the current…
Chief Financial Officers have seen their job description expand over the years to include broader responsibilities and more reporting requirements, such as those mandated under…
IASB News Companies Will Have to Disclose Pollution Caused by External Suppliers Multinational and other companies will be required to disclose their indirect greenhouse gas…
In Brief To date, “smart contracts” have had only limited use. Nevertheless, they have the power to be transformative, particularly when combined with artificial intelligence…
In Brief Although business's increasing utilization of technology to drive operational decisions has meant a greater reliance on data, it is exceedingly rare that an…
In Brief Corporations have long grappled with the question of how to report the potential impact of climate-related risks on their business. Recent years have…