FASB News Agenda Requests from Big Four Rejected FASB voted against adding two projects to its technical agenda, one to clarify rules related to common…
ICYMI | 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…
In Brief Generation Z is beginning to enter the workforce, bringing with it a demographic shift that will affect every facet of American society, including…
ICYMI | Why Are African American Students Still Not Majoring in Accounting?
The Importance of Early Impressions
In 1969, the AICPA formed the Minority Initiatives Committee, whose mission was to encourage, provide educational opportunities for, and promote the hiring of high-potential minority…
IASB News Advisory Council to Discuss Post-COVID-19 Workplan The IFRS Advisory Council held discussions this week on an on-site workplan for the global accounting rulemaker…
ICYMI | Advice for Retaining African American Accountants
Using ‘Perspective-Taking’ to Strengthen Interpersonal Relationships
In Brief Creating a diverse and inclusive work environment entails a variety of strategies. One common approach is to encourage professionals to be authentic to…
When people reach a certain age, a questioning of purpose and direction often happens. Although the entertainment media often satirizes such events, the opportunity to…
The Internal Revenue Service Criminal Investigation Division's Annual Report for 2020 (Pub 3583: https://www.irs.gov/pub/irs-pdf/p3583.pdf) emphasized coronavirus (COVID-19)-related tax fraud and cybercrimes, along with its more…
Audit Oversight and Effectiveness
Understanding the Past and Looking toward the Future
In Brief It has been nearly two decades since the creation of the PCAOB in response to a series of major financial reporting failures. But…
CPA financial planners can help clients not only grow their investments but also save money on common costs. Planning for medical costs can represent a…
FASB News Taxonomy Guides on Disclosures for Consolidation Rules Proposed On February 16, the FASB staff announced that the public can now weigh in on…
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…
Many CPA firms report that advisory and consulting operations have become their fastest-growing segments due to high client demand—and high margins—for these services. IBISWorld (https://www.ibisworld.com/),…
The liquidation of a partner's entire partnership interest can take various forms, including payment made by the partnership to the retiring partner in complete redemption…
Women Accountants at Haskins & Sells During the 1920s
The Pioneering Career of Jennie May Palen
In Brief In the early decades of the last century, women CPAs were not as common in the accounting profession as they have become today.…
Pandemic Payroll
How a Permanent Remote Workforce Will Affect Taxes
Most businesses throughout the United States have introduced or expanded their work-from-home policies in the wake of the coronavirus (COVID-19) pandemic, forcing companies to adjust…
FASB News Early Application Permitted for Simpler Rules on Convertible Instruments On February 9, FASB reminded public companies that simpler, more cost-efficient new accounting rules…
ICYMI | Building a Diverse Professional Community
Perspectives from the Chinese American Society of CPAs
Editor's Note: On the occasion of The CPA Journal's 90th anniversary of publication, the editors asked the leadership and members of the Chinese American Society of CPAs (http://www.cascpa.org)…
In Brief Despite claims to the contrary, the billable hour is still the most common billing method, and realization the most common profitability metric used…
The liquidation of a partner's entire partnership interest can take various forms, including payment made by the partnership to the retiring partner in complete redemption…
Tax Software in the COVID-19 Environment
2020 Annual Survey of New York State Practitioners
In Brief The 2020 tax season was unlike any other, with a global pandemic requiring virtually all tax preparers to work from home, often while…
Hidden Gems in the Consolidated Appropriations Act of 2021
Uncovering COVID-19–Related Tax Relief
On December 27, 2020, the President signed into law the Consolidated Appropriations Act (CAA), a 5,593-page combination of coronavirus (COVID-19) relief along with many other…
What made me want to become a CPA? Well, I have to acknowledge that the 18-year-old me was neither wise nor worldly. When I matriculated…
FASB News FASB Adds Three New Members to Nonprofit Advisory Panel FASB announced three new members to its Not-for-Profit Advisory Committee (NAC), the panel that…
Tax Compliance and Taxpayer Mood
Will COVID-19 Lead to an Epidemic of Tax Cheating?
In Brief The voluntary tax system in the United States rests largely upon the willingness of taxpayers to pay their fair share. The authors examine…
It is never pleasant when a client relationship ends on less than amicable terms. This is especially true when the relationship's demise leads to litigation.…
The Impact of COVID-19 on the Profession
An NYSSCPA Member Survey
In Brief Between May 2020 and July 2020, the NYSSCPA surveyed a random sample of NYSSCPA members and asked them about the impact of the…
The accounting profession continues to face a rapidly changing marketplace requiring changing skills and competences. Some of the most significant changes have been the result…
FASB News Banking Sector Urges Expanded Proposal on Evaluating Goodwill Triggering Events FASB’s December 2020 proposal to ease accounting for evaluating goodwill triggering events would…
ICYMI | Modifying the Pathway to Becoming a Licensed CPA
Considering Practitioners’ Perspectives
The current pathway to becoming a licensed CPA requires candidates to achieve a passing score across four separate competencies: audit (AUD), regulation (REG), financial accounting…