The internship is a time-honored tradition among accounting students, an opportunity to put their hours in the classroom to the first real test. Internships provide…
Students today know much more about technology than their counterparts a generation ago. The advances in technology over the past two decades have forced them…
Given the ongoing changes in accounting, auditing, tax and consulting standards; the scope of services provided; the proliferation of reporting frameworks; and the exponential increases…
Life insurance is one of the most important tools in modern financial planning, but it is not always the most appreciated. It has a role…
Employee Engagement in Public Accounting Firms
Getting Millennial Staff Excited about the Work Environment
Employee engagement is an important issue for leaders of organizations looking to foster a healthy and positive work environment. Engaged employees are excited and enthusiastic…
Advancing Diversity within the CPA Profession
An Interview with Alfonzo Alexander
While society has come a long way in its diversity efforts, the fact that many corporations have yet to implement diversity programs shows that the…
Accounting professionals are keenly aware that the workflow in public accounting is cyclical and that reporting deadlines can lead to work weeks well in excess…
Private Company Accounting Standards
Survey of New York CPAs Finds Adoption Slow
The CPA profession has been debating the concept of separate accounting standards for closely held businesses for over 40 years. In the December 1972 Journal of…
IRS Form 3520, Penalties, and Whether to Make a Protective Filing
Information Reporting on Foreign Trusts and Gifts
Whether a taxpayer is required to file IRS Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, is…
Mergers and Acquisitions of Accounting Firms
When, How, and Why to Merge
It seems that every week, there is news of another merger within the accounting profession. Legally speaking, however, very few combinations of accounting firms are…
The CPA Journal is a submission-based, double blind, peer-reviewed monthly publication that features special themes throughout the year, including financial reporting, fraud, financial planning, technology, and…
The State of the Profession
Analyzing the Results of the 2017 Practice Management Survey
The results of the 19th Annual Rosenberg Practice Management Survey are in. For the third year in a row, the NYSSCPA has partnered with the…
The Equifax Data Breach
What CPAs and Firms Need to Know Now
In the wake of the Equifax computer breach—in which key personal information of 145 million Americans was stolen—it may be correct to assume that anyone…
Editors’ Note: Published this past June, Baruch Lev and Fang Gu’s The End of Accounting and the Path Forward for Investors and Managers (Wiley) has generated a great…
Reproduced with permission from Accounting Policy & Practice Report, 233 APPR (Dec. 6, 2017). Copyright 2017 by The Bureau of National Affairs, Inc. (800-372-1033) http://www.bna.com. Guidance expected…
I just finished reading the September 2017 issue. It was a very good overview of what's wrong (and right) with accounting education. The takeaways for…
Individuals who own businesses frequently need to have the business valued. Sometimes it is for a specific purpose, such as for postsale retirement planning; other…
The IRS recently reported (IR-2017-176) a 30% decline in confirmed identity theft returns from 2016 to 2017 and a 40% reduction in taxpayer self-reported identity…
Our Greatest Hits | Applications of control charts
From The CPA Journal Archives
"Our Greatest Hits" is an effort to show our readers the most popular - and still avidly read - articles from our archives. This article…
CPAs in all areas of practice encounter client screening, acceptance, and termination (CSAT) scenarios daily. CSAT is without a doubt the first line of defense…
(http://bit.ly/2yMsBi1), individuals gave $281.86 billion in 2016, nearly 4% more than the prior year. How do high-income taxpayers—defined here as income of $200,000 or more—fit…
Sourcing receipts for apportioning business income continues to be a challenge to CPAs, especially for providers of services. Financial service companies in particular have seen…
In May 2014, FASB and the IASB released a final, converged standard on revenue recognition [see Accounting Standards Update (ASU) 2014-09 and IFRS 15]. The…
Many CPAs and most tax specialists perform personal financial planning (PFP) services; the AICPA estimates that more than 100,000 of its members perform some form…
Data computing is a far older practice than most people realize, and it has always been linked to accounting. The Mesopotamians claimed the earliest use…
On February 25, 2016, FASB, in collaboration with the International Accounting Standards Board (IASB), released Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), in order to…
Under Internal Revenue Code (IRC) section 6672(a), an individual can be held personally liable for a penalty for the willful failure to collect, account for,…
The U.S. economy has been improving steadily for the past seven years, and interest rates have remained at historical lows. Nevertheless, there will be an…
ICYMI | One Accounting Firm’s Contributions to World War II
The Story of Colonel Carter and his Colleagues at Deloitte’s Predecessor Firms
In Brief The United States' entry into World War II marked the start of the largest business undertaking in the nation's history, and accountants were…
To make informed decisions, financial statement users need to understand the nature of the items on a company's income statement, particularly whether they are persistent…