Jacoby and Levy's probing article “The Materiality Mystery” (July 2016, p. 14) raises perhaps the most important question in auditing: What does “material” really mean?…
Risk of Recession The probability that the U.S. economy will fall into recession within six months increased from 17% in April to 20% in May,…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The update is…
Many CPA candidates will find it advantageous to investigate which resources exist to help them pass the CPA exam. The majority of the best resources…
It’s Amazing What CPAs Can Do
How Technology Drives Entrepreneurship
I was born in London, England, to parents of Indian descent and grew up in a single-parent household most of my childhood. My mother had…
CPAs and Conflicts of Interest
A Recap of Recent AICPA Guidance
The AICPA Code of Professional Conduct acknowledges that CPAs in both public practice and business may be faced with conflicts of interest when performing professional…
Benefit Corporations and B Corporations
New Opportunities for Accountants
For-profit corporations in the United States are required as part of their fiduciary duties to act in the best interests of their shareholders. Conventional wisdom…
In 2014, FASB issued amended accounting rules and disclosures for certain types of repurchase (repo) transactions. Under the new guidance, certain repo transactions previously accounted…
Repurchase agreements, or repos, have existed since 1917 and play an important role in the short-term liquidity markets. Although the purpose of a typical repo…
Claims alleging breaches of fiduciary duties have historically targeted large 401(k) plans with significant levels of assets. Recently, however, a claim was filed against a…
Transactions in which an older person advances money to a trust to pay premiums for a life insurance policy on a child or children using…
As many CPAs may be aware, the state of Nevada has historically never imposed an entity-level corporation income tax on companies doing business within its…
Increasingly, U.S. citizens and lawful permanent residents are cutting their ties with the United States. This process, called expatriating, includes renouncing U.S. citizenship and terminating…
According to the AICPA report “Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits,” hiring at public accounting firms rose…
The Next Version of the CPA Exam
Changes Are Coming Next Year
The AICPA recently released its report covering the next version of the Uniform CPA Examination (AICPA, Practice Analysis Final Report, Apr. 4, 2016, http://bit.ly/294IHtx), launching…
Recruiting and Retaining Talent: One Firm’s Story
2016 Max Block Award Honorable Mention in the Area of News & Views/Opinion
Whenever I talk to another CPA firm—big, small, or anywhere in between—about the biggest challenges facing their firm, they almost always say recruiting and retaining…
The CPAs of Tomorrow
Graduate Student Perspectives on the Value and Purpose of the Profession
As an accounting professor at Mount Saint Mary College, the author teaches a graduate accounting research course. Students in this capstone seminar are all working…
On June 23, 2016, the citizens of the United Kingdom voted to leave the European Union. According to Prime Minister David Cameron, “Over 33 million…
From Analysis to Action
The Evolution of Accounting Ethics Education
The overemphasis within accounting ethics education on developing ethical reasoning skills (the “why”) to analyze dilemmas may be failing to engage students in the action…
Post–Public Accounting Careers
How Retiring CPAs Can Become College Instructors
In Brief The current shortage of accounting faculty at many colleges and universities has created an increasing number of opportunities for CPAs seeking to retire…
Adjunct Teaching Opportunities for CPAs
A Part-Time Path for Those Considering a Move to Academia
In Brief Adjunct faculty positions are a good way for professionals to begin a career in academia. The opportunities for CPAs to teach at this…
Making the Jump from Accounting Practice to Academia
Considerations for the Transition to a PhD Program
In Brief Many CPAs who work in public practice and corporate accounting harbor the idea of returning to college to share their professional experiences and…
This month's issue focuses on topics of interest to both the younger generation of CPAs preparing to enter the profession and the older generation seeking…