In Brief Underfunding, questionable investment decisions, imperfect assumptions on future market returns, declining interest rates, and the structure of defined benefit plans have created a…
Much has been written over the past several years, and especially in the last few months, about the evolving role of the CFO in the…
ICYMI | Preparing the Statement of Cash Flows Using the Direct Method
Illustrating a Simpler Approach
FASB's Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, removes the requirement that not-for-profit (NFP) entities that choose to prepare the…
ICYMI | Internal Control Deficiencies in Local Government
Evidence from School Districts
Internal controls are a vital component of any financially healthy organization, and public school districts are no exception. In New York, the Office of the…
ICYMI | Implementing ASU 2016-14 on the Presentation of Not-for-Profit Financial Statements
Changes Aim to Provide More Relevant Information and Perspective
FASB's Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, contains changes in reporting requirements that will significantly affect how nonprofits communicate…
Forté Capital’s Selected Statistics: Risk of Recession in the United States
Economic and Market Data
RISK OF RECESSION The probability that the United States economy will fall into a recession in six months fell from 9% in December to 8%…
Forté Capital’s Selected Statistics: Employment Situation
Economic and Market
Employment Situation Payrolls increased by 235,000 jobs in February, well above the consensus expectations. Much of the strength was in goods-producing industries, which added 95,000…
This is the first busy season since the enactment of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, which amended federal…
A recent CPA Journal article “Assisting Individuals with Charitable Legacies” (Sidney Kess and Edward Mendlowitz, April 2016, http://bit.ly/2nmSxfx) describes different ways donors may structure bequests.…
People today live with more uncertainty than in the past. To some extent, this is because new technology and vehicles of communication, not to mention…
Nasty financial weather is raining down on many state and local governments. Retirement benefits and related obligations have grown into thunderheads, seeded by decades of…
When FASB issued Accounting Standards Update 2016-14, Presentation of Financial Statements for Not-for-Profit Entities (Topic 958), it stated that prior standards “could be improved to…
State and Local Government Pensions at the Crossroads
Updating Accounting Standards Highlight the Challenges
In Brief Underfunding, questionable investment decisions, imperfect assumptions on future market returns, declining interest rates, and the structure of defined benefit plans have created a…
Profiles in Community-Oriented, Socially Engaged Professionals
It’s Amazing What CPAs Can Do
Accounting as a profession carries a public interest responsibility that also contributes significant value to society. Accounting can also lead one to some amazing careers,…
FASB News Conceptual Framework Discussion to Resume FASB resumed discussions on its effort to complete its Conceptual Framework—an internal guide to help the board set…
Internal Control Deficiencies in Local Government
Evidence from School Districts
Internal controls are a vital component of any financially healthy organization, and public school districts are no exception. In New York, the Office of the…
Serving the Public Interest
Improving Government Reporting and Promoting Sustainable Corporate Governance
When discussing accounting and financial reporting for governments, we need to acknowledge that corporations dominate the global economy. Fifty-two of the world's largest 100 economies…
In Brief FASB's new revenue recognition standard will become effective for most not-for-profit (NFP) entities in 2019. Although this date may seem distant, the new…
If you ask most of the NYSSCPA's committee members about our government affairs program, they may not realize something—that they're a major part of it.…
Accounting for leases has received considerable attention from standards setters in recent years. Under current FASB and GASB accounting rules, many leases are structured to…
TPP | Reasonable Cause for International Information Return Penalties
What Is the Standard?
The Internal Revenue Code (IRC) requires the filing of a number of different information returns with respect to foreign entities or transactions. These “international information…
Implementing ASU 2016-14 on the Presentation of Not-for-Profit Financial Statements
Changes Aim to Provide More Relevant Information and Perspective
FASB's Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, contains changes in reporting requirements that will significantly affect how nonprofits communicate…
Gene L. Dodaro, Comptroller General of the United States and head of the Government Accountability Office (GAO), serves as the chief auditor for the federal…
Preparing the Statement of Cash Flows Using the Direct Method
Illustrating a Simpler Approach
FASB's Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, removes the requirement that not-for-profit (NFP) entities that choose to prepare the…
Much has been written over the past several years, and especially in the last few months, about the evolving role of the CFO in the…