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…
FASB News Private Companies Seeking Clarity around Coronavirus-Related Disclosure Requirements Private companies are seeking FASB or AICPA interpretative guidelines on the appropriate level of disclosures…
Deception is the main tool of fraudsters and the hallmark of many types of fraud. When used skillfully, deception often leads to not one incident…
FASB News Staff Document to Ease Hurdles on Accounting for Lease Concessions On April 10, FASB published a staff document that addresses four questions companies…
“Those who cannot remember the past are condemned to repeat it.” —George Santayana Public criticism of the accounting profession is intense. Users of financial statements…
“Rather fail with honor than succeed by fraud.” —Sophocles This article is a broad-strokes review of what forensic accountants do, how the profession has developed,…
CPAJ News Briefs
FASB, GASB, PCAOB News
FASB News Healthcare Accountants: Coronavirus Came at Pivotal Reporting Period The coronavirus (COVID-19) pandemic coincided with the most significant reporting and tax season of the…
Fiduciary Duty, Due Care, and the Public Interest
A Practical Dilemma for CPAs
The times have changed dramatically for CPAs. No longer are there only purely traditional CPA firms providing accounting, attestation, and tax services. The major firms…
CPAJ News Briefs
FASB, GASB, PCAOB News
FASB News Goodwill Impairments Expected to Spike in 2020 Companies will likely report more goodwill impairments than they might have planned for the first quarter…
CPAJ News Briefs
IRS, FASB, AICPA News
IRS News IRS Issues Official Guidance on Filing and Payment Deadline Postponements In Notice 2020-18, the IRS has made official the earlier announcement by Treasury…
CPAJ News Briefs
IRS, FASB, IASB News
IRS News IRS Creates Coronavirus Website The IRS has created a new website, http://www.irs.gov/coronavirus, that it says is “focused on steps to help taxpayers, businesses,…
Operating against a backdrop of global volatility and economic uncertainty, with business and regulatory risks becoming more complex and challenging, audit committees will need to…
CPAJ News Briefs
FASB, IASB, GASB News
FASB News Leases Roundtable Could Avert Private Company Adoption Costs FASB plans to hold a roundtable on April 9 to discuss the implementation experiences of…
The Lawyer's duty is first of all to his client, and that duty frequently compels him to avail himself of technicalities and other means of…
The Myth of Auditor Independence
Waking Up to Unconscious Bias
The AICPA Code of Professional Conduct requires that members in public practice be objective, free of conflicts of interest, and independent in fact and appearance…
CPAJ News Briefs
FASB, IASB News
FASB News FAF Appoints New Executive Director John Auchincloss, acting president of the Financial Accounting Foundation (FAF), the parent organization of FASB, has been appointed…
CPAJ News Briefs
PCAOB, FASB, GASB News
PCAOB News SEC, PCAOB Discuss Coronavirus Impact with Big Four Audit Firms During discussions over the past two weeks with Big Four audit firms, SEC…
CPAJ News Briefs
FASB, IASB News
FASB News Golden Outlines Process for Setting Rulemaking Agenda FASB’s process for putting a topic on its standards-setting agenda is one that entails making tough…
CPAJ News Briefs
FASB, GASB News
FASB News FASB Updates Codification to Incorporate SEC Staff Views on Credit Loss Rules, Leases Deferral FASB has issued a new accounting standard that updates…
CPAJ News Briefs
FASB, PCAOB, IASB News
FASB News Firms Ask FASB to Clarify Accounting Rules for Sale and Leaseback Transactions Six accounting firms, including the Big Four, have asked FASB to…
CPAJ News Briefs
FASB, IASB, AICPA News
FASB News FASB to Propose Conceptual Framework Amendments in June The U.S. accounting standards setter plans to issue a proposal early June that revises the…
CPAJ News Briefs
FASB, GASB, IASB News
FASB News New Rules Issued to Clarify Interaction of Equity Investment Accounting Rules FASB has issued narrow provisions to help accountants understand the interaction of…