Accounting is all about the numbers. But some items that are not easily tallied up in a financial statement are nonetheless essential to the day-to-day…
Quarterly U.S. GDP Growth First quarter GDP growth was 2.63%, the lowest in four quarters; however, the expectations for the current quarter range from 3%…
I read with interest the introduction to the June 2018 technology issue of The CPA Journal and the articles related to blockchain technology. I found the blockchain…
The Global Sustainability Standards Board (GSSB) of the Global Reporting Initiative (GRI) transitioned from issuing “guidelines” to more formal “standards” in October 2016. The new…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
In March 2018, the Sustainability Accounting Standards Board (SASB) established a relationship with Fordham University's Gabelli School of Business to advance the emerging field of…
"Progress is impossible without change, and those who cannot change their minds cannot change anything." — George Bernard Shaw Is the CPA profession declining in…
Most CPA firms today are focusing their efforts on eliminating client interaction. They want clients to drop off their tax info and pick up their…
First Look at the Tax Cuts and Jobs Act of 2017
Seven Questions about the Business Interest Expense Deduction
This article answers several questions taxpayers and their advisors will have about the new rules under the Tax Cuts and Jobs Act of 2017 (TCJA)…
Sustainable Investing for Institutions
A Case Study
Sustainable investing is at once intuitive and confusing; it seems like the right thing to do, but there are many different ways to do it.…
In Brief Corporate sustainability reporting is becoming more widespread with each passing year, and with that growth comes the need for companies to back up…
Narrowing the Casualty Loss Deduction
TCJA Provisions Limit Scope of Tax Relief
Internal Revenue Code (IRC) section 165(c)(3) defines a casualty event to be a “fire, storm shipwreck, or other casualty.” As usually happens with ambiguous language…
Getting Older Without Family
Addressing Personal, Legal, and Financial Concerns
The American Association of Retired Persons (AARP) projects that by 2030, approximately 16% of women will be between 80 and 84 years old and childless…
The Current State of Sustainability Reporting
A Work in Progress
In Brief Sustainability investing continues to grow in popularity, but the lack of standardization in sustainability reporting poses a challenge for investors wishing to maximize…
The Profession’s Role in Sustainability Advocacy
Challenging CFOs to Join the Movement
For the past 15 years of my 40-year career in the hospitality sector, I have been advocating for hotel companies, and the tourism industry at…
Mandatory Nonfinancial Reporting in the EU
Implications for U.S. CPAs
As a result of new regulation in the European Union (EU), in 2018 many companies will issue their first annual reports containing mandatory nonfinancial disclosures.…
State and Local Tax Roundup
Current Developments in New Jersey and Connecticut
CPAs need to be aware of current tax developments in key states to properly advise clients that are doing business in multiple jurisdictions. Below is…
Table 1 Regression (1) Bloomberg ESG Disclosure = RobecoSAM + Control Variables Model Unstandardized Coefficients Standardized Coefficients T Sig. B Std. Error Beta 1 (Constant)…
In Brief Sustainability investing continues to grow in popularity, but the lack of standardization in sustainability reporting poses a challenge for investors wishing to maximize…
Sustainability Assurance Services
From a Niche to the Mainstream
The practice of sustainability reporting—the regular reporting of environmental, social, and governance (ESG) data—is quickly becoming the norm rather than the exception for global companies.…
The State of COSO and SASB
A Conversation with Robert B. Hirth, Jr.
In Brief Bob Hirth is the immediate past chair of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), having served from June 2013…
Conflict Minerals Disclosure Requirements and Corporate Social Responsibility
Trends, Challenges, and Opportunities
In Brief Among the many topics of concern for companies and investors interested in social responsibility is the use of minerals sourced from war zones…
Passport Revocation and Denial for Seriously Delinquent Tax Debts
New IRS Procedures Signal More Stringent Enforcement
In January 2018, the IRS published procedures to begin enforcement of Internal Revenue Code (IRC) section 7345, which requires the State Department to deny the…
The Future of Accounting Is Now
Financial Performance Is Linked to Sustainable Growth
A growing body of research indicates that the language people speak could shape the way they think. Might the same be true when it comes…
The notion of sustainability is not an accounting concept, or even a business concept. Indeed, common English usage defines a sustainable entity merely as one…