New York State recently adopted a “first-in-the-nation” set of cybersecurity compliance requirements that impact any businesses or organizations that report to the Department of Financial…
ICYMI | The Coming Disruption of Drones, Robots, and Bots
How Will It Affect CPAs and Accounting Practice?
Drones, mechanical robots, and robotic software processes are augmenting, assisting, and, in some cases, replacing human workers in almost every industry. The common assumption that…
ICYMI | Managing Risk at the Speed of Change
A New Risk Vocabulary and a Call to the Profession
Electronic commerce has changed the pace of business activity. One McKinsey estimate speculates that the current rate of change is 10 times that of the…
ICYMI | Deep Learning and the Future of Auditing
How an Evolving Technology Could Transform Analysis and Improve Judgment
In Brief This article introduces deep learning technology—an emerging form of artificial intelligence that can be trained to recognize patterns in vast volumes of data…
In “Serving the Public Interest—Promoting Better Government Reporting and Sustainable Corporate Governance” (April 2017), Editor-in-Chief Richard Kravitz states, “I would argue that [external] auditors have…
Ever since the double-entry bookkeeping system was created in 1340, accountants and business owners have been focused on the fidelity of financial reporting systems. The…
Proposed Framework for Valuing Financial Instruments Released
AICPA and IASB News
AICPA News Proposed Framework for Valuing Financial Instruments Released On July 6, the AICPA issued a proposed framework intended to help accountants and financial reporting…
While the first “thinking machine” was invented in the 1940s, it took a good 30 years before computers were small and affordable enough to become…
Sifting through the Internet to find the answer to a specific question can be a daunting task. This article compiles some of the most useful…
There was a time in America, and in accounting, when loyalty was the most important contract employees and employers had with each other. The employee…
As information providers, accounting professionals are at the forefront of applying new technologies and resources to practice issues. The SEC has made use of data…
Fraud prevention is a critical and ongoing consideration for companies all over the world. According to the 2016 Report to the Nations on Occupational Fraud and…
Focus To Shift From New Standards To Improving Communication
IASB, PCAOB News
IASB News Focus to Shift from New Standards to Improving Communication Now that the IASB has finished its “big four” accounting standards—leases, revenue, insurance, and…
I grew up in New Jersey as a typical kid who played sports, followed the local teams, and watched comedy on TV at night while…
Recent Trends in Reporting Non-GAAP Income
An Example from Social Media Companies
In May 2016, the SEC issued new Compliance and Disclosure Interpretations (CDI) and modified others to revise its guidance on the reporting of non-GAAP financial…
Starting a Business from Home
Legal, Tax, and Financial Concerns
It is easy for just about anyone to start a business from home. Whether people have left an office job because of downsizing or retirement,…
The Coming Disruption of Drones, Robots, and Bots
How Will It Affect CPAs and Accounting Practice?
Drones, mechanical robots, and robotic software processes are augmenting, assisting, and, in some cases, replacing human workers in almost every industry. The common assumption that…
Over the past eight years, financial professionals' interest in bitcoin and other digital currencies has increased, and now regulators have taken notice. The federal government…
Poland began its transition to capitalism upon the collapse of the Soviet Union in 1991. At the time, the Polish Securities and Exchange Commission (PSEC),…
Not-for-Profit Liquidity Disclosures Will Be Flexible
FASB, IASB, and AICPA News
FASB News Not-for-Profit Liquidity Disclosures Will Be Flexible FASB’s ASU 2016-14 is the first major update to financial reporting for not-for-profit entities in more than…
New York State recently adopted a “first-in-the-nation” set of cybersecurity compliance requirements that impact any businesses or organizations that report to the Department of Financial…
On April 10, 2017, Governor Andrew Cuomo signed into law New York's 2017/2018 Budget Bill, which contains significant tax measures that CPAs need to be…
In Brief Use of the term “big data” has become as pervasive as the phenomenon itself. The authors attempt to define the term as it…
For many years, New York State Society members who also serve on AICPA Council have participated in the institute's biannual Capitol Hill visits in Washington,…
The Chief Information Security Officer
The New CFO of Information Security
Traditionally, CPAs have considered the chief financial officer (CFO) as the guardian of a business's organizational data. It was and remains the CFO's responsibility to…
Financial Reporting Faces Technological Change
FASB, IASB, and PCAOB News
FASB News Financial Reporting Faces Technological Change FASB and its Financial Accounting Standards Advisory Council (FASAC) are contemplating the future of financial reporting in a…
As other articles throughout this issue illustrate, keeping information secure is a paramount concern for today's businesses and their advisors. Cybersecurity is critical for accountants…
Editor's note: The following is a supplement to the author's “Depreciable Asset Lives: The Forgotten Estimate in GAAP,” published in the September 2016 CPA Journal.…