While society has come a long way in its diversity efforts, the fact that many corporations have yet to implement diversity programs shows that the…
ICYMI | Addressing the Challenges of Diversity in the Profession
Determinant Factors for the Dearth of Minority CPAs
The dearth of minority CPAs has been a source of concern within the accounting profession for many decades (see Bert N. Mitchell, “The Black Minority…
FASB News Simpler Rules Issued for Convertible Instruments, Own Equity On August 5, FASB issued new rules to simplify the accounting for convertible instruments and…
FASB News No New Definition for Joint Ventures A majority of the FASB said it was best not to revise the definition for joint ventures—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…
FASB News Accounting Rules for Franchise Fees Discussed FASB discussed whether to add a project to its technical agenda that would provide an accounting alternative…
The pandemic has put many people and businesses in need of help. The federal government has responded by enacting Economic Impact Payments, Paycheck Protection Program…
FASB News New Chairman Signals Focus on Maintaining, Improving Existing Rules In an effort to glean insight that would aid in understating the financial reporting…
IASB News IFRS Foundation to Hold Annual Conference Virtually The IFRS Foundation said it would combine two major annual conferences into one event and hold…
FASB News PCCC Mulling Whether to Carve Out Rules on Profits Interest Compensation The Private Company Council (PCC) said it would wait for more FASB…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Good times or bad, it is vital for investors to hold cash reserves. Federal deposit insurance provides an extra layer of comfort, so it is…
FASB News Private Company Council to Discuss Profits Interest Compensation FASB’s advisory body, the Private Company Council, plans at its June 25 meeting to take…
Online Accounting Courses
Transition and Emerging Issues
Due to the effects of the worldwide coronavirus (COVID-19) pandemic, accounting professors have been forced to navigate the complexities of teaching in a nontraditional format…
Trust is among the most important commodities in the world, and it is in increasingly short supply. The 2020 Edelman Trust Barometer, a yearly survey…
FASB News Nonprofits to Get New Rules for Gifts in Kind Donations On June 10, FASB voted to publish new rules later this year that…
The IRS is increasingly relying on correspondence audits to audit small businesses. This report of a correspondence audit of the personal income tax returns of…
GASB News Clarified Rules for Reporting Cloud Computing, Subscription-Based IT Arrangements GASB issued new accounting rules on June 5 to clarify how to report cloud…
Editor's Note: The CPA Journal also interviewed Joseph Dio Guardi about the federal deficit and accountants in public service. An edited print excerpt can be found here…
FASB News FAF Allocates $11.6 Million to Modernize Technology, Systems The Financial Accounting Foundation (FAF) said its work to replace the obsolete technology used to…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The update is…
By Steven Mintz and Roselyn Morris McGraw-Hill Education, 2019, ISBN 978-1259969461, $287.30 (Hardcover) Reviewed by Edward Mendlowitz Before I begin my review of this casebook…
Should CPA students no longer have to learn the basics of government accounting? According to a new AICPA exposure draft, Maintaining the Relevance of the…
The Not-for-Profit Board Challenge
How to Use Board Members’ Time More Effectively
CPAs and other accounting and finance professionals are often asked to sit on the boards of not-for-profit (NFP) organizations. The volunteer, unpaid status of NFP…
FASB News Webinar on Big Three, Covid-19 Issues for Private Companies and Nonprofits FASB said it plans to hold a webinar on June 15 dedicated…
FASB News Golden Outlines Board’s Standards Setting Plans Prior to Departure FASB Chairman Russell Golden said the board will determine whether to finalize a proposal…
These are extraordinary times with extraordinary challenges. We fear for our safety and the safety of those we love, for the stability of our country…
FASB News National Defense Group Urges FASB to Extend Delay on Revenue Accounting Rules The defense sector has asked FASB to extend a proposed delay…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
The Setting Every Community Up for Retirement Enhancement (SECURE) Act, signed into law by President Trump on December 20, 2019, as part of funding legislation…