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  • Audit Committee Penetration Testing Considerations
  • GASB Issues Statements 100 and 101
  • Mitigating the Negative Impacts of Job-Related Stress
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Magazine

Home /Magazine
March/April 2023

Book Review: Blockchain Basics: A Non-Technical Introduction in 25 Steps

By Daniel Drescher

By  Yigal Rechtman, CPA, CFE, CITP, CISM

June 2023 0

By Daniel Drescher. Apress Business, 2017, ISBN 978-1-4842-2604-9. As blockchain and, its derivative, virtual currency become ubiquitous in commerce, business, and Main Street, there have…

March/April 2023

Simplification May Not be so Simple

The Adoption of ASU 2021-08

By  Nathan S. Slavin, PhD, CPA and Jianing Fang, DPS, CPA, CITP

May 2023 0

FASB issued ASU 2021-08, Business Combinations (Topic 805)–Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, to address the diversity in practice on the…

March/April 2023

Audit Committee Penetration Testing Considerations

By  Joel Lanz, CPA/CGMA/CITP/CFF, CISM, CISSP, CFE

May 2023 0

Whether responding to heightened regulatory expectations or confirming trust in their organization's ability to repel a cyberattack, performing penetration testing (i.e., “pen test”) continues to…

March/April 2023

GASB Issues Statements 100 and 101

Clarifying the Reporting of Accounting Changes and Compensated Absences

By  Paul Copley, PhD, CPA and Leah M. Kratz, CPA

May 2023 0

In Brief To address the challenges facing governments in reporting accounting changes and error corrections, GASB issued Statement 100. This standard aims for greater uniformity…

NextGen

Mitigating the Negative Impacts of Job-Related Stress

By  Sammie Parsley, DBA, CPA, CMA, CIA, CGMA and Jennifer Reynolds-Moehrle, PhD, CPA, CGMA

May 2023 0

Although stress in public accounting is unavoidable, especially during the busy season, excessive amounts can be dysfunctional for both individual CPAs and their firms. Prolonged…

March/April 2023

Financial Reporting Quality during COVID-19

Non-GAAP Financial Measures and MD&A Disclosures

By  Jiali (Jenna) Tang, Khondkar E. Karim, DBA, CPA and Christina Roy

May 2023 0

The COVID-19 pandemic has added to the uncertainty and confusion faced by stakeholders. As companies incur revenue loss, plan for recovery, and start to adopt…

March/April 2023

Current Developments in California, Florida, Indiana, and Pennsylvania

By  Corey L. Rosenthal, JD and Faith Gorman, CPA

May 2023 0

CPAs need to be aware of current tax developments in key states to properly advise their clients that are doing business in multiple jurisdictions. This…

March/April 2023

Single Audits Are Not What They Used to Be

By  John D'Amico, CPA

May 2023 0

In Brief The past several years have seen large sums of federal assistance directed to not-for-profit organizations in order to aid in dealing with and…

March/April 2023

Leveraging Business Skills in Counseling the Recovering Addict

By  Eric A. Kreuter, PhD, CPA, CFE, CGMA, CMA, MAFF

May 2023 0

Accountants can deploy their technical training, skills, and experience in helping powerless persons as a way of giving back to the community. This article describes…

March/April 2023

What to Consider When There is a Recent Dementia Diagnosis

A Conversation with an Elder Law Attorney

By  Sidney Kess, JD, LLM, CPA and Elizabeth Forspan, JD

May 2023 0

In Brief As the country's population ages, increasing numbers of people find themselves experiencing conditions of chronic illness. CPAs that serve such clients can tailor…

March/April 2023

What CPAs Need to Know about Employee Retention Credit Fraud

By  Christopher M. Ferguson, JD and David Taylor

May 2023 0

Most taxpayers have likely received a solicitation recently claiming that they may be entitled to thousands of dollars in employee retention tax credits. The solicitations…

March/April 2023

Top Challenges Facing Not-For-Profit CFOs Today

By  Travis Carey, CPA and Amy West, CPA

May 2023 0

In Brief Chief financial officers of not-for-profit organizations have always faced many challenges, some common to all corporate leaders, some unique to the sector. Today's…

March/April 2023

Nonprofit Technology Predictions and Trends for 2023

By  David Rottkamp, CPA and Hassan Khan

May 2023 0

As CPAs advise their nonprofit clients on strategies for 2023, it is imperative to understand the top technology trends that will affect the sector this…

March/April 2023

Do PCAOB Audit Inspections and ICFR Assessments Protect the Public Interest?

By  Steven Mintz, PhD and William F. Miller, EdD, CPA

May 2023 0

In Brief The PCAOB inspects audits of registered public accounting firms and identifies deficiencies in gathering audit evidence and internal controls over financial reporting and…

March/April 2023

Accounting for Unsubmitted Grant Reimbursement Claims and Related Auditing and Reporting Considerations

By  Howard B. Levy, CPA

May 2023 0

Editors' Note: The CPA Journal staff would like to acknowledge the recent passing of longtime column editor, author, and Editorial Advisory Board member Howard Levy. His…

March/April 2023

Fulfilling a Mission of Public Service

By  Calvin Harris, CPA

May 2023 0

Welcome to our latest issue of The CPA Journal! This particular issue touches on matters near and dear to my heart, as we cover topics in the…

Featured

Accounting for Changing Prices

There’s a Better Way Now

By  Robert F. Sharp, PhD, CPA

May 2023 0

In Brief The past year has seen inflation reach levels not seen since the early 1980s. Under the circumstances, it can be instructive to revisit…

Featured

First Look at the Secure Act 2.0 of 2022

Practical and Legal Considerations

By  Sheldon M. Geller, JD, CPA

May 2023 0

On December 23, 2022, Congress passed the Securing a Strong Retirement Act of 2022 (Secure 2.0) as part of the Consolidated Appropriations Act of 2023,…

Featured

Detecting ‘Big Bath’ Accounting in the Wake of the COVID-19 Pandemic

Can Traditional Financial Metrics Find Earnings Management?

By  Donald Frey, CMA, Brandy Havens, CPA and Alfred C. Greenfield, PhD

May 2023 0

In Brief As many companies deal with the aftermath of declining sales and reduced profit margins associated with the COVID-19 pandemic, management may be tempted…

January/February 2023

The ABCs of Worker (Mis-)Classification

Recent Developments in New Jersey

By  Corey L. Rosenthal, JD and Lance E. Rothenberg, JD, LLM

May 2023 0

Whether a “worker” is properly characterized and treated as an “employee” or as an “independent contractor” is a complex—but increasingly important—inquiry for business owners and…

Featured

Regulators and Standard Setters: Updates and Panel Discussion

Highlights from the 17th Annual Baruch College Auditing Conference

By  CPAJ Staff

May 2023 0

The first panel of the conference, “Regulators and Standard Setters: Updates and Panel Discussion,” featured presentations and discussion on current topics in auditing standards and…

January/February 2023

Adapting to Constant Change

By  Calvin Harris, CPA

April 2023 0

My first job out of college in 1992 was as an auditor for Arthur Andersen & Co. in their Baltimore office. Like so many other…

Featured

Critical Audit Matter Reporting

A Comparison of Years 1 through 3

By  Jian Zhang, PhD and Kurt Pany, PhD

April 2023 0

In Brief It has been suggested that the recent introduction of Critical Audit Matters (CAM) to audit reports represents the most significant change to reporting…

January/February 2023

Reassessing the Erroneous Refund Penalty

The IRS Flexes an Obscure Authority

By  Megan L. Brackney, JD, LLM (Tax)

April 2023 0

Under IRC section 6676, the IRS has the authority to assess penalties against taxpayers for making erroneous claims for refund or credit. In a 2013…

Featured

PCAOB Chair Keynote Session

Fireside Chat with Erica Y. Williams

By  Erica Y. Williams and Paquita Davis–Friday

April 2023 0

About The Speaker The keynote speaker at the conference was PCAOB Chair Erica Y. Williams. Williams was sworn in as the chair in January 2022, coming from…

Featured

Tax & Accounting Update

By  CPAJ Staff

April 2023 0

Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…

January/February 2023

Forté Capital’s Selected Statistics

By  Anthony Sarmiento

April 2023 0

Forté Capital's Selected Statistics U.S. Existing Home Sales Home sales, new and existing, have weakened due to the sharp increase in mortgage rates last year.…

Featured

The State of the Internal Revenue Service

By  Susan B. Anders, PhD, CPA/CGMA

April 2023 0

Alarge majority of respondents to The CPA Journal 2022 Practice Management and Tax Practice Survey reported substantial difficulty in reaching an Internal Revenue Service representative, which…

Featured

Pluto~Charon Inc., or Where the Orbits of Right-of-Use Assets and Impaired Value Collide

By  Stephen Franciosa, CPA and Guy DeSanctis, CPA

April 2023 0

On February 25, 2016, FASB issued Accounting Standards Update (ASU) 2016-02, Leases (ASC Topic 842) to “increase transparency and comparability among organizations by recognizing lease assets…

January/February 2023

Equity Method Accounting

By  Josef Rashty, CPA

April 2023 0

Many equity investments do not require the complete acquisition of investees and their consolidations. Depending on circumstances, companies may account for an equity investment as…

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Our Latest Content

  • Book Review: Blockchain Basics: A Non-Technical Introduction in 25 Steps June 2023
  • CPAJ News Briefs: FASB, IASB, GASB June 2023
  • Simplification May Not be so Simple May 2023
  • Audit Committee Penetration Testing Considerations May 2023
  • GASB Issues Statements 100 and 101 May 2023












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