One of the most amazing things that CPAs can do is give other people the tools they need to realize their goals. CPAs teach their…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
What a terrific issue (September 2017)! There were so many thoughtful and relevant articles related to accounting education that it was hard to narrow down…
I read, with some interest, the recent special issue (September 2017) on accounting education, which discussed pedagogical changes needed to create synergy between academics and…
I just finished reading the September 2017 issue. It was a very good overview of what's wrong (and right) with accounting education. The takeaways for…
Individuals who own businesses frequently need to have the business valued. Sometimes it is for a specific purpose, such as for postsale retirement planning; other…
The IRS recently reported (IR-2017-176) a 30% decline in confirmed identity theft returns from 2016 to 2017 and a 40% reduction in taxpayer self-reported identity…
Our Greatest Hits | Applications of control charts
From The CPA Journal Archives
"Our Greatest Hits" is an effort to show our readers the most popular - and still avidly read - articles from our archives. This article…
Industrial Production Recent data on U.S. industrial production indicates a return to growth, growing 0.3% in September, as opposed to August, during which time industrial…
FASB News Small Business Advisory Committee Backs Simplified Approach to Goodwill Representatives from small businesses, auditors, and investors told FASB on November 30 that they…
(http://bit.ly/2yMsBi1), individuals gave $281.86 billion in 2016, nearly 4% more than the prior year. How do high-income taxpayers—defined here as income of $200,000 or more—fit…
Sourcing receipts for apportioning business income continues to be a challenge to CPAs, especially for providers of services. Financial service companies in particular have seen…
In May 2014, FASB and the IASB released a final, converged standard on revenue recognition [see Accounting Standards Update (ASU) 2014-09 and IFRS 15]. The…
Many CPAs and most tax specialists perform personal financial planning (PFP) services; the AICPA estimates that more than 100,000 of its members perform some form…
FASB News Leasing Standard to Get Minor Revisions Before Effective Date On November 29, FASB said it plans to float a proposal for public comment…
On February 25, 2016, FASB, in collaboration with the International Accounting Standards Board (IASB), released Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), in order to…
Under Internal Revenue Code (IRC) section 6672(a), an individual can be held personally liable for a penalty for the willful failure to collect, account for,…
The U.S. economy has been improving steadily for the past seven years, and interest rates have remained at historical lows. Nevertheless, there will be an…
2018 PCAOB Budget Cuts Spending By 3.2 Percent
PCOAB/AICPA/IASB News
PCAOB News 2018 PCAOB Budget Cuts Spending by 3.2 Percent On November 16, the PCAOB unanimously approved its 2018 budget of $259.9 million, an $8.6…
To make informed decisions, financial statement users need to understand the nature of the items on a company's income statement, particularly whether they are persistent…
A search for unrecorded liabilities is a fundamental, almost universally applied procedure in all audits. The scope of such a search frequently includes a sampling…
One of the most amazing things that CPAs can do is give other people the tools they need to realize their goals. CPAs teach their…
Characteristics of Financial Restatements and Frauds
An Analysis of Corporate Reporting Quality from 2000–2014
Corporate reporting quality has been at the forefront of the profession since the major corporate accounting scandals such as Enron and WorldCom at the beginning…
Forensic Accounting
A Value-Adding Skill for the CPA
Accountants, especially those in public accounting, normally strive for attainment of the coveted Certified Public Accountant (CPA) designation. After four to five years of study,…
CPAs love collecting data on employees, clients, and themselves. Most firms track dozens of key performance indicators (KPI) to manage their practices—most of them focused…
Overcoming Obstacles with the Right Tax Software
2017 Annual Survey of New York State Practitioners
In Brief New York tax practitioners encountered new challenges during the 2017 tax season, most notably meeting the new driver's license reporting requirements and obtaining…