I recognize that the article “CPA Exam Performance” (Stephen E. Rau, Brian M. Nagle, and K. Bryan Menk, September 2019, http://bit.ly/2NhwIvq) focused on the difference between…
CPAJ News Briefs
PCAOB, IASB, FASB News
PCAOB News Initial Observations of Critical Audit Matters Auditors of large public companies this year have begun including critical audit matters (CAM) in their audit…
The IRS appears to be making inroads in addressing tax-related identity theft, although the crime continues to feature prominently on its annual Dirty Dozen list…
As the 2020s approach, it is time for the profession to look to the coming developments for accounting software and technology over the next 10…
The previous installment of this column discussed what to do when a cyberattack inevitably occurs, including how to react if a client's organization (or a…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
How to Determine a Discount for Lack of Marketability
Introducing the Predictive Illiquidity Process
In Brief Many privately held companies treat their stock as if they were public companies, but such stock is less liquid than if it were…
On September 2, 2019, the New York City Department of Finance released Finance Memorandum 18-9, New York City Tax Treatment of Foreign-Derived Intangible Income Deduction, Global…
The Unsustainability of the Current U.S. Fiscal Path
Making the Case for Pragmatic Reforms
In Brief The U.S. federal government's own financial reporting paints a picture of an “unsustainable fiscal path.” The projections from the Treasury Department and Government…
Sales Allocation Methods
Cost of Performance vs. Market-Based Sourcing
Companies that need to allocate their income or loss among the various states they do business in, whether they perform services or sell or license…
In Brief As CPAs continue to expand into providing financial and other advisory services, one area of interest is business valuation services. The author explains…
Under Internal Revenue Code (IRC) section 7216 and its concomitant regulations, a tax preparer must obtain the consent of a taxpayer before disclosing or using…
In Brief Deciding whether a traditional individual retirement account (IRA) or a Roth IRA is the better investment vehicle can be a more complex choice…
As of October 21, 33 states and the District of Columbia have allowed the use of medical marijuana. In addition, recreational marijuana is legalized in…
The Challenge of Accounting for Goodwill
Impact of a Possible Return to Amortization
Determining how to account for the goodwill found in business combinations has been a hotly debated topic for decades. Standards setters have promulgated numerous different…
The prices listed below are based on information found on the providers’ and/or reviewers’ websites in October 2019. They have not been independently reviewed or…
The Best Tax Software 2019
Annual Survey of New York State Practitioners
In Brief New York tax practitioners encountered several challenges during the 2019 tax season, most notably with obtaining assistance from IRS and Department of Tax…