Although CPA mobility laws and regulations have significantly eased the process for CPAs to practice across licensing jurisdictions, recent enforcement reports of the New York…
FASB News FAF Trustees to Meet on February 15 The Financial Accounting Foundation (FAF), the trustee body with oversight responsibility of FASB and GASB, will…
Paycheck, Culture, Work-Life Balance
How to Attract and Retain Millennial Accountants
Millennials are the future of the accounting profession. Much has already been written about their generation's preferences and the implications for employers. To attract and…
FASB News Level at Which Goodwill is Tested for Impairment Won’t Change On January 26, the FASB voted 4–3 against changing the unit level at…
Smoke and Mirrors
Race and the Black CPA
Change is in the air for accounting. Many promises have been made about increasing diversity, particularly for Black accountants. But have all the projects, initiatives,…
IASB News Implementation Group to Discuss Whether Crypto Rules Needed for Small-to-Midsized Entities An IASB implementation group that monitors private company reporting rules will discuss…
I read with interest the article “Using the Guideline Company Method in Valuing Closely Held Companies,” by Nicholas Mastracchio (CPAJ July/August 2020), and I applaud the…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
PCAOB News Erica Williams Sworn in as Chair Erica Williams was sworn in as chair of the PCAOB on January 10, 2022. The board now…
A New Approach to Finally Stop the Hackers
Increased Risks Require New Solutions
Everyone knows that hacking is a huge problem that typically results in the theft of large amounts of confidential information. But they don't know a…
Book Review | Corporate Law and the Theory of the Firm
Reconstructing Corporations, Shareholders, Directors, Owners, and Investors (The Economics of Legal Relationships)
By Wm. Dennis Huber In Corporate Law and the Theory of the Firm, author Wm. Dennis Huber, an attorney and CPA with graduate degrees in economics and…
FASB News Advisers Taking ‘Wait and See’ Posture on Joint Venture Project FASB’s private company advisers will wait until the board completes its proposal on…
An Introduction to Structured Installment Sales
Avoiding Capital Gains Taxes on Real Estate Transactions or Business Buyouts
When the right set of circumstances presents itself, there may be no simpler way to defer, reduce, or completely eliminate long-term capital gains taxes when…
FASB News Advisers Want Balanced Financial Performance Reporting Project A FASB project to require more details about a company’s financial performance in the income statement…
There is still time in the final quarter of 2021 for tax professionals to advise taxpayers to take actions that can favorably impact tax liability…
FASB News ESG, Crypto, Intangibles, Government Assistance Added to Research Agenda Companies got a hint at what could make it to the FASB’s technical agenda…
The COVID-19 pandemic has wreaked havoc on the United States, not just in terms of lives lost, but also in terms of the country's ability…
FASB News Developing More Rules on Government Incentives Raises Tricky Questions Government grants are often “in the eye of the beholder,” and therefore developing recognition…
FASB News Regulatory Framework Will Determine Next Steps on Digital Assets FASB will be able to comprehensively address the reporting of digital assets once there…
FASB News General ESG Matters Won’t be Added to Core Mission At a recent trustee meeting, FASB Chair Richard Jones signaled that the board does…
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 More Amendments to Credit Loss Accounting Rules and Disclosures Proposed FASB has issued a narrow proposal to remove troubled debt restructuring (TDR) accounting…
Book Review | Corporate Law and the Theory of the Firm: Reconstructing Corporations, Shareholders, Directors, Owners, and Investors (The Economics of Legal Relationships)
By Wm. Dennis Huber; Routledge, 2020, ISBN 978-0367895532
In Corporate Law and the Theory of the Firm, author Wm. Dennis Huber, an attorney and CPA with graduate degrees in economics and finance, challenges…
FASB News New Accounting Rules for Disclosing Government Incentives On November 17, FASB issued a new accounting standard to create consistency in the way companies…
Accounting—at least as an independent field of study—is becoming obsolete in today's technology- and analytics-focused world. Its value lies in its interdisciplinary applicability and position…
Although the last year has spurred hardships for those in the accounting profession, the coronavirus (COVID-19) pandemic has presented a promising opportunity for future generations…
Integrating Sustainability into the Accounting Curriculum
Meeting an Emerging Student Demand
Last year marked the 50th anniversary of Milton Friedman's seminal article, “The Social Responsibility of Business Is to Increase Its Profits.” The essay focused primarily…
FASB News FAS Investor Panel to Drill Down on Board Priority Topics FASB will wait until early next year to move on topics investors believe…
The ESG Reporting Journey
Take the first steps … before it’s too late
Environmental, social, and governance (ESG) reporting is no longer considered a soft investment. Market demand and regulatory guidance are coalescing quickly. Consistent and transparent financial…
FASB News Modest Revisions to Interim Disclosure Rules Proposed FASB has proposed modifications to interim disclosure rules aimed at helping companies to provide more meaningful…