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January/February 2022

Home /Magazine/January/February 2022
Featured

ICYMI | Working from Home

State Income Tax Complications

By  Mark Klein, JD, Joseph Endres, JD and Tyler J. Gately, JD

August 2022 0

The coronavirus (COVID-19) pandemic triggered an exodus of workers from their comfortable offices to the safety of their homes and other remote locations. For some,…

Featured

ICYMI | Nine Valuation Mistakes for Business Owners to Avoid

By  Evan Levine, ChFC and Nainesh Shah, CFA, CVA

July 2022 0

Whether or not a business owner plans to sell or transfer their business in the next few years, obtaining a proper business valuation is critical.…

Featured

ICYMI | Expanding Options for Providing Attestation Services

A Review of AT-C Sections 205 and 206

By  Gerald W. Hepp, CPA, Alan Reinstein, CPA and Thomas R. Weirich, PhD, CPA

July 2022 0

In September 2020, the Auditing Standards Board issued Statement on Standards for Attestation Engagements (SSAE) 21, Direct Examination Engagements. Its provisions are effective for assertion-based and direct…

Featured

ICYMI | Seeking Truly Global Financial Reporting Standards

Should U.S. Standards Setters Re-Engage with IFRS (and the IASB and ISSB)?

By  Peter Harris, CPA, CFA, CMA, CIA, Eva K. Jermakowicz, PhD, CPA and Barry Jay Epstein

July 2022 0

In Brief For decades, leading standards setters have advocated a single set of global financial reporting standards. After large strides were made in converging U.S.…

Featured

ICYMI | FASB Streamlines Income Tax Accounting

Some Simplification for Franchise Taxes

By  Mark P. Holtzman, PhD, CPA

July 2022 0

Recently, FASB issued a new Accounting Standards Update (ASU 2019-12), Simplifying the Accounting for Income Taxes. The new standard amends section 740 of the Accounting Standards…

Featured

ICYMI | Finding Financial Experts for Audit Committees

What Compensation Can CPAs Expect?

By  Jimmy Carmenate, DBA, CPA, Caroline C. Hartmann, DBA, CPA, Divesh S. Sharma, PhD, FCA and Vineeta D. Sharma, PhD

July 2022 0

In Brief Regulatory and market pressures have led to increased responsibilities for corporate audit committees, as well as greater demand for such members to possess…

Featured

ICYMI | How Independence and Commercialism Can Coexist

By  Vincent J. Love, CPA/CFF, CFE

July 2022 0

This article is an updated and expanded version of one written by this author seven years ago (“Can Professionalism and Commercialism Coexist in CPA Firms?…

Featured

ICYMI | Implementing CECL During the Pandemic

Unexpected Consequences Revealed

By  Arianna Pinello, PhD, CPA, CIA and Ernest Lee Puschaver, CPA

June 2022 0

In Brief The much-anticipated and -deliberated changes to the accounting for financial instruments ushered in by ASU-2016-13, Financial Instruments–Credit Losses, happened to take effect during an…

Featured

‘Flat Sum’ Settlements

An ‘End Run’ Around New York’s Reporting Requirements?

By  Garrett L. Brodeur, JD, LLM

May 2022 0

In computing a state resident's adjusted gross income for personal income tax purposes, New York, like many states, starts with the individual's federal adjusted gross…

Featured

Examining the Ethics Education Requirements for CPA Candidates

State-by-State Variations and the Quest for Mobility

By  Eric Horne, PhD, Sonja E. Pippin, PhD, CPA and Jannet Vreeland, PhD

May 2022 0

In Brief Although ethics is undoubtedly at the core of what it means to be a public accountant, there has long been dispute and divergence…

January/February 2022

Forté Capital’s Selected Statistics

Economic & Market Data

By  CPAJ Staff

April 2022 0

Forté Capital's Selected Statistics U.S. Treasury Yield Curve One of the driving factors in both the economic picture and the capital markets is the expectation…

Featured

More Predictions about the Profession’s Future

By  Yigal Rechtman, CPA, CFE, CITP, CISM

April 2022 0

I read with interest the collection of predictions for 2022 (“The State of the Profession: Predictions for 2022,” December 2021), and I have my own…

Featured

Book Review: Advice for a Successful Career in the Accounting Profession

Wiley, ISBN: 978-1119855286 by Jerry Maginnis

By  David D. Wagaman, CPA

April 2022 0

Jerry Maginnis has written a book that should be on the bookshelf of anyone in the accounting profession, from interested students to experienced practitioners. Advice for…

Featured

Implementation of Critical Audit Matters

Lessons from Other Countries

By  Li Wang, PhD, CPA and George S. Lu

April 2022 0

On October 23, 2017, the SEC approved Auditing Standard (AS) 3101, The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an…

Featured

Nine Valuation Mistakes for Business Owners to Avoid

By  Evan Levine, ChFC and Nainesh Shah, CFA, CVA

April 2022 0

Whether or not a business owner plans to sell or transfer their business in the next few years, obtaining a proper business valuation is critical.…

Featured

Expanding Options for Providing Attestation Services

A Review of AT-C Sections 205 and 206

By  Gerald W. Hepp, CPA, Alan Reinstein, CPA and Thomas R. Weirich, PhD, CPA

April 2022 0

In September 2020, the Auditing Standards Board issued Statement on Standards for Attestation Engagements (SSAE) 21, Direct Examination Engagements. Its provisions are effective for assertion-based and direct…

Featured

Center for Audit Quality and Critical Audit Matters

By  Susan B. Anders, PhD, CPA/CGMA

April 2022 0

Accounting trend observers report that audit and assurance services regarding environmental, social, and governance reporting, as well as cybersecurity risks, continue to be prominent issues…

Featured

Asset Acquisition Accounting

Understanding the Available Guidance

By  Josef Rashty, CPA

April 2022 0

A business combination is a transaction or event by which an acquirer obtains control of a business (i.e., the acquiree). If the acquisition of an…

Featured

Working from Home

State Income Tax Complications

By  Mark Klein, JD, Joseph Endres, JD and Tyler J. Gately, JD

April 2022 0

The coronavirus (COVID-19) pandemic triggered an exodus of workers from their comfortable offices to the safety of their homes and other remote locations. For some,…

Featured

FASB Streamlines Income Tax Accounting

Some Simplification for Franchise Taxes

By  Mark P. Holtzman, PhD, CPA

March 2022 0

Recently, FASB issued a new Accounting Standards Update (ASU 2019-12), Simplifying the Accounting for Income Taxes. The new standard amends section 740 of the Accounting Standards…

Featured

Exploring the Variety of Career Opportunities Offered by the Accounting Profession

By  Jerry Maginnis, CPA

March 2022 0

In my role as an executive in residence at Rowan University in southern New Jersey, I have had the opportunity to meet with many students…

Featured

Seeking Truly Global Financial Reporting Standards

Should U.S. Standards Setters Re-Engage with IFRS (and the IASB and ISSB)?

By  Peter Harris, CPA, CFA, CMA, CIA, Eva K. Jermakowicz, PhD, CPA and Barry Jay Epstein

March 2022 0

In Brief For decades, leading standards setters have advocated a single set of global financial reporting standards. After large strides were made in converging U.S.…

Featured

How Independence and Commercialism Can Coexist

By  Vincent J. Love, CPA/CFF, CFE

March 2022 0

This article is an updated and expanded version of one written by this author seven years ago (“Can Professionalism and Commercialism Coexist in CPA Firms?…

Featured

An Introduction to Lattice Allocations

A Better Method for Service Department Cost Allocations

By  Dennis Caplan, PhD, CPA, CMA and Kirke Bent

March 2022 0

The invention of the system of equations method (i.e., the reciprocal method) was a significant step in the allocation of service department costs to production…

Featured

The Many Skills of the CFO

By  Frank Manzi, CPA and Mark Martinelli, CPA

March 2022 0

The demands placed on CFOs and their related financial organizations are driven by the many hats that they wear in discharging their responsibilities. As summarized…

Featured

Finding Financial Experts for Audit Committees

What Compensation Can CPAs Expect?

By  Jimmy Carmenate, DBA, CPA, Caroline C. Hartmann, DBA, CPA, Divesh S. Sharma, PhD, FCA and Vineeta D. Sharma, PhD

March 2022 0

In Brief Regulatory and market pressures have led to increased responsibilities for corporate audit committees, as well as greater demand for such members to possess…

Featured

Advocating for CPAs for 125 Years and Counting

By  Joanne S. Barry, CAE

March 2022 0

As we enter our 125th year of representing and advocating for CPAs, I can't help but be struck by the footprint we have made on…

Featured

How Long is a Year?

A Deeper Look at 52/53-Week Reporting Conventions

By  Joshua J. Filzen, PhD, CPA, Allen Hartt, PhD, CFA and Troy Hyatt, PhD, CPA

March 2022 0

In Brief Although many businesses operate on a fiscal year distinct from the calendar year, some use a distinctive 52/53-week fiscal year. This reporting convention…

Featured

The Complexity of Sales Taxation of Information Services

A Review of Recent New York Litigation

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

March 2022 0

The proper taxation of “information services” under the New York Sales Tax Law can raise complex and costly issues resulting in difficult audits and even…

Featured

Implementing CECL During the Pandemic

Unexpected Consequences Revealed

By  Arianna Pinello, PhD, CPA, CIA and Ernest Lee Puschaver, CPA

March 2022 0

In Brief The much-anticipated and -deliberated changes to the accounting for financial instruments ushered in by ASU-2016-13, Financial Instruments–Credit Losses, happened to take effect during an…

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Our Latest Content

  • CPAJ News Briefs: FASB, PCAOB, IASB March 2023
  • Reassessing the Erroneous Refund Penalty March 2023
  • Keynote Session March 2023
  • Ensuring Integrity March 2023
  • ICYMI | Enhancing Employee Resilience March 2023












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