FASB News Trustees Approve 2021 Budget Trustees of the Financial Accounting Foundation (FAF), the parent body of the nation’s two main accounting rulemakers, approved its…
I write to you on the most auspicious occasion of The CPA Journal's 90th anniversary. For close to a century now, it has served as a valuable…
FASB News Companies Worry Proposal on Franchise Fees Would Unravel Rules A September 2020 proposal from FASB would compromise revenue accounting rules, introducing industry-specific guidance…
ICYMI | The Intersection of Public Accounting and Human Rights
What Is the CPA’s Role?
Whenever speaking publicly on business and human rights, I usually preface my words with the caveat that I am not a lawyer, but a public…
FASB News Investors Urge Movement on Government Assistance Project FASB should move ahead with its work to provide accounting disclosure rules around government assistance companies…
FASB News Codification Updated to Streamline Disclosures, Various Rules FASB has issued an update to the U.S. GAAP codification to streamline the disclosure section and…
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 FASB Proposes Clarifications to Accounting for Certain Modifications of Forwards and Options FASB has issued a narrow proposal aimed at clarifying and reducing…
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…
The CPA Exam Should Adopt Remote Testing
An Imperfect Solution for Unprecedented Times
The CPA exam and certification it leads to remains the premier certification for accountants in public practice. And while passing the exam still confers the…
Teaching at a University
A Symbiotic Relationship
Many CPAs are curious about whether teaching at a university will be a rewarding and fulfilling part of a professional career. In this article, 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…
FASB News New Rules for Long-Term Insurance Need Fixes for Embedded Derivatives, Insurance Sector Says Insurance companies are finding it tougher to account for embedded…
Maintaining student engagement—particularly in technical subjects such as accounting—presents a challenge to educators under the best of circumstances. Achieving high levels of student engagement has…
As accounting faculty at a public university, the authors believe the accounting profession has an obligation to combat implicit bias. Some may object that addressing…
FASB News Multiple Amendments to Standards Represent Continuous Improvement FASB does not find it frustrating to have to amend new accounting rules over and over,…
FASB News Proposed Improvements for Taxonomy Issued Companies can now weigh in on whether they agree with the proposed technical and other conforming improvements for…
The Intersection of Public Accounting and Human Rights
What Is the CPA’s Role?
Whenever speaking publicly on business and human rights, I usually preface my words with the caveat that I am not a lawyer, but a public…
FASB News Option to Avoid Applying Credit Loss Rules to Trade Receivables May Be Considered The new credit loss accounting rules did not move the…
FASB News Roundtable Raises Question on Whether to Redefine Leases An FASB lease accounting roundtable discussion on September 18 raised the surprising question of whether…
ICYMI | Eleven Ways to Reboot Business Momentum in the Midst of COVID-19
Taking Stock and Optimizing Opportunities
For CPAs, the past three months have seen a wide mix of consequences affecting clients, employers, and colleagues. One thing has been clear: Every business…
FASB News Consultation Document on Internationally Applicable Rules for Nonprofits to be Published A collaborative effort of various accounting groups worldwide will generate a consultation…
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 COVID-19 pandemic has caused disruption throughout the world and tragic loss of life. This difficult and uncertain time has produced significant negative impacts on…
FASB News Online Forum for CPE Providers Scheduled FASB will hold an online forum on October 12 that is designed to help companies and professionals…
ICYMI | The Statement of Cash Flows Turns 30
Common Reporting Deficiencies and Recent Changes
This past year marked the 30th anniversary of the statement of cash flows as a required financial statement. FASB's efforts in developing the then-new standard…
FASB News Proposed GAAP Codification Amendments Split Up FASB will continue to split up a November 2019 proposal aimed at improving the Accounting Standards Codification…
Eleven Ways to Reboot Business Momentum in the Midst of COVID-19
Taking Stock and Optimizing Opportunities
For CPAs, the past three months have seen a wide mix of consequences affecting clients, employers, and colleagues. One thing has been clear: Every business…
FASB News Twenty Projects on Technical Agenda to Be Reconsidered FASB plans to determine whether it still wants to pursue 20 of the projects on…
Editor's Note: This statement from our publisher was originally posted on the NYSSCPA website (http://www.nysscpa.org) on June 4, 2020. We as Americans and New Yorkers are…