The accounting profession is facing a severe crisis due to a shortage of accountants. Significantly fewer students have selected accounting as a major. As a…
IASB News GRI and ISSB Trustees to Launch Sustainability Innovation Lab The Global Reporting Initiative (GRI) and the IFRS Foundation will launch the Sustainability Innovation…
Friends and colleagues, Accounting has often been called the language of business— and CPAs the sturdy backbone of the business world, enabling financial clarity, corporate…
IASB News GRI and ISSB Trustees to Launch Sustainability Innovation Lab The Global Reporting Initiative (GRI) and the IFRS Foundation will launch the Sustainability Innovation…
FASB News Revenue Accounting Rules Pose Ongoing Costs but Firms not Pressing for More Changes FASB was applauded by participants at a recent roundtable for…
FASB News Statement of Cash Flows to be Narrowly Reorganized for Financial Institutions FASB has voted to add a rulemaking project to its agenda to…
FASB News New Rule for Profits Interest Awards will be Issued Early Next Year FASB voted to finalize a narrow proposal that aims to provide…
Finding the Right ESG Framework
Which Standards Setters Should You Choose?
On March 18, 2022, Wolters Kluwer's Expert Insights published “The 5 biggest hurdles to effective ESG [environmental, social, and governance] reporting.” Unsurprisingly, “multiple ESG frameworks” was…
IASB IFRS Interpretations Committee to Publish Final Decisions on Three Topics, Propose New One The IFRS Interpretations Committee will ask the IASB this week whether…
Artificial Intelligence (AI) traces its origin to antiquity, when humans attempted to use formal reasoning to predict the future of events. Today, AI has made…
IASB News Due Process Handbook to be Updated to Reflect ISSB’s Role The IFRS Foundation plans to update its Due Process Handbook to reflect the…
The notion of becoming a CPA never even crossed my mind as a child. When I was 3 years old, my father passed away. My…
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 New Accounting Standard to Incorporate 14 SEC Disclosure Rules into GAAP FASB issued an accounting standard that pulls 14 SEC disclosure requirements into…
The notion of becoming a CPA never even crossed my mind as a child. When I was 3 years old, my father passed away. My…
Finding the Right ESG Framework
Which Standards Setters Should You Choose?
On March 18, 2022, Wolters Kluwer's Expert Insights published “The 5 biggest hurdles to effective ESG [environmental, social, and governance] reporting.” Unsurprisingly, “multiple ESG frameworks” was…
FASB News New Subtopic for Crypto Assets to be Added to Intangibles Section of U.S. GAAP. FASB plans to add a new subtopic number…
Value-driven disruptive digital strategies, business models, skills, and technologies are transforming organizations of all sizes, sectors, and geographies. Digital disruption is also stressing organizational governance.…
FASB News No Fundamental Change Needed on Cost-Benefit Due Process FASB’s approach for weighing the costs versus benefits of changing accounting rules may be the…
Artificial Intelligence (AI) traces its origin to antiquity, when humans attempted to use formal reasoning to predict the future of events. Today, AI has made…
FASB News Disclosure Rules on Stock Compensation not Complex but Some Audits Costly. Recommendations on whether FASB should revise certain disclosure requirements for stock compensation…
Addendum: The CPA Journal staff would like to acknowledge the recent passing of longtime Editorial Advisory Board member Sidney Kess. Over his decades of service to…
Greetings, fellow CPAs. During these “dog days” of summer, many of us will pause professionally to focus on time away with family and friends. Often,…
FASB News New Rules Coming Will Pull SEC Disclosures into GAAP FASB plans to publish an accounting standard in October that will bring 14 SEC…
ICYMI | A Taxpayer Victory in a Statutory Resident Case
New York Court of Appeals Denial Finalizes a Landmark Decision
On February 9, 2023, in a major victory for the taxpayer, the New York State Court of Appeals (New York State's highest court), denied the…
FASB News Proposal on Accounting and Disclosure of Crypto Assets Finalized FASB unanimously voted to finalize proposed accounting rules on crypto assets—just five months after…
With so much attention drifting toward the productivity of remote workers in the post–COVID-19 environment, many CFOs are overlooking the related critical tax and compliance…
FASB News Proposed Disclosure Rules on Income Taxes to be Finalized FASB has unanimously voted to finalize the proposed disclosure rules on income taxes, touting…
FASB News New Standard on Accounting for Joint Ventures Issued FASB has published a new standard intended to improve the accounting for joint venture formations,…
As a CPA who has also earned a PhD in behavioral accounting, I have always been qualified to practice forensic accounting. After all, in order…