In Brief The accounting profession has long prided itself on its commitment to ethics. For academia, this makes the question of how to teach individuals…
FASB News More Amendments to Credit Loss Accounting Rules and Disclosures Proposed FASB has issued a narrow proposal to remove troubled debt restructuring (TDR) accounting…
Book Review | Corporate Law and the Theory of the Firm: Reconstructing Corporations, Shareholders, Directors, Owners, and Investors (The Economics of Legal Relationships)
By Wm. Dennis Huber; Routledge, 2020, ISBN 978-0367895532
In Corporate Law and the Theory of the Firm, author Wm. Dennis Huber, an attorney and CPA with graduate degrees in economics and finance, challenges…
The purpose of this essay is to provide some reflections about my 40-year career as an accounting educator. My focus will include the inspiration for…
FASB News New Accounting Rules for Disclosing Government Incentives On November 17, FASB issued a new accounting standard to create consistency in the way companies…
Accounting—at least as an independent field of study—is becoming obsolete in today's technology- and analytics-focused world. Its value lies in its interdisciplinary applicability and position…
Although the last year has spurred hardships for those in the accounting profession, the coronavirus (COVID-19) pandemic has presented a promising opportunity for future generations…
Integrating Sustainability into the Accounting Curriculum
Meeting an Emerging Student Demand
Last year marked the 50th anniversary of Milton Friedman's seminal article, “The Social Responsibility of Business Is to Increase Its Profits.” The essay focused primarily…
FASB News FAS Investor Panel to Drill Down on Board Priority Topics FASB will wait until early next year to move on topics investors believe…
An Unconventional Tax Saving Strategy for Parents of College Students
Part 2—Lifetime Learning Credit
In Brief The Lifetime Learning Credit (LLC) and the American Opportunity Credit (AOC) offer significant tax savings for education expenses. This second article in a…
According to the U.S. Bureau of Labor Statistics Occupational Outlook Handbook, there were more than 1.4 million accountants and auditors in 2019 (https://bit.ly/3DYhhSC). Based on…
An Unconventional Tax Saving Strategy for Parents of College Students
Part 1–American Opportunity Credit
In Brief The American Opportunity Credit (AOC) and the Lifetime Learning Credit (LLC) have been topics of discussion for their utility in helping to fund…
The ESG Reporting Journey
Take the first steps … before it’s too late
Environmental, social, and governance (ESG) reporting is no longer considered a soft investment. Market demand and regulatory guidance are coalescing quickly. Consistent and transparent financial…
FASB News Modest Revisions to Interim Disclosure Rules Proposed FASB has proposed modifications to interim disclosure rules aimed at helping companies to provide more meaningful…
The PCAOB requires that registered audit firms adhere to an audit quality control (QC) requirement: A firm of independent auditors has a responsibility to adopt…
California Approves SALT Cap Workaround
An Overview of the Key Provisions
California Governor Gavin Newsom recently signed Assembly Bill 150 (AB150), which created a workaround for the current $10,000 limitation on the deduction for state and…
ICYMI | Using the Guideline Company Method in Valuing Closely Held Companies
A Comparison of Traditional Indicators and Economic Value Added
There are several reasons why a closely held company may need to determine the value of its businesses. These include transactions in company stock; purchases…
One CPA’s Experience in a Doctorate in Business Administration Program
The Journey from Practitioner to Professor
In this personal reminiscence, one accounting professor recounts her journey from public accounting into academia. Rather than taking the usual PhD, she took the sometimes…
Joshua Rosenstock, and Martin M. Shenkman, JD, CPA, PFS, AEP The accounting profession must be understanding and sensitive to the changing landscape of diversity, equity,…
FASB News Private Company Accounting Option for Measuring Certain Types of Share Awards Issued On October 25, 2021, FASB issued a simpler accounting option that…
First Look at the Human Capital Disclosures on Form 10-K
Analyzing the SEC Mandate and Comparing it to SASB and EU Standards
In Brief The SEC recently required registrants to disclose information on human capital resources that is material to understanding a company's business. Although this represents…
Faced with shrinking budgets and resources, for more than a decade the IRS has been forced to do more with less. It has responded by…
Modifying the Collegiate Accounting Curriculum to Prepare for the CPA Evolution Project
Incorporating Advances in Technology into Accounting Programs
In Brief Technological innovation in the business environment has significantly impacted how CPAs work. In response to these technological advances, the American Institute of Certified…
Using Sustainability Initiatives to Engage Young Professionals
Prioritizing Purpose for Generation Z and Millennials
Generation Z, like the millennial generation before it, is pessimistic about careers, life in general, and the world around it. However, it shares a deep…
FASB News Independent Joint Ventures Getting Specific Disclosure Rules FASB continued to hammer out a proposal for joint venture formations, voting on the disclosures that…
Whistleblowing Intentions for Internal Auditors
Why Psychological Safety Is Critically Important
In Brief Financial fraud represents a serious threat to financial markets, and it has long been noted that whistleblowing can be an important deterrent to…
Accounting Ethics Education
A 43-Year Retrospective
In Brief The accounting profession has long prided itself on its commitment to ethics. For academia, this makes the question of how to teach individuals…
The PCAOB requires that registered audit firms adhere to an audit quality control (QC) requirement: A firm of independent auditors has a responsibility to adopt…
FASB News Same Expense Disclosures to Be Required for Single and Multiple Segment Companies FASB continues to build a proposal for segment disclosures, as the…
ICYMI | Twenty Questions on the Challenges of Maintaining the Quality of Accounting Education During the COVID-19 Pandemic
Assessing the Impact on Students, Universities, and Employers
Over the past year and a half, the coronavirus (COVID-19) pandemic has affected all sectors of the global economy and society. The impact has perhaps…