In Brief The worldwide COVID-19 pandemic has affected businesses of every size in every country, and the United States has been hit particularly hard. Many…
Financial Reporting and Auditing Implications of the COVID-19 Pandemic
Some Practical Guidance
In Brief The COVID-19 pandemic has disrupted life around the world, but business, in altered fashion, goes on. Companies will have to report on their…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Jeanette Lew, St. John’s University
Future Professionals, in Their Own Words
Why did you go into accounting? My original plan was to pursue a career in finance, before I realized that accounting was more what I…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Our article in the December 2017 issue of the Journal, “Alternative Dispute Resolution for Accounting and Related Services Disputes,” makes the following statement that needs to…
I read with interest the November 2017 article issue, “Helping Business Owners Understand Valuation Approaches” (Sidney Kess and Edward Mendlowitz, http://bit.ly/2BmvfQv). I congratulate the authors on…
FASB's recent work schedule has included proposed improvements to income tax accounting related to the recent tax law changes, the 2018 GAAP financial reporting taxonomy,…
CPAJ News Briefs
FASB News
Technical Corrections for Hedge Accounting Standard Put on Hold At its February 14 meeting, FASB backed away from issuing a limited, technical correction for its…
Accounting for Credit Losses Under ASU 2016-13
Anticipating the Impact on Reporting and Disclosure
The method used in determining the appropriateness of an allowance for credit losses (ACL) has been a challenging financial reporting issue for decades. The 2008…
The Decision Relevance of Financial Reporting
An Exclusive CPA Journal Panel Discussion
In Brief In the past few years, three major accounting standards—revenue recognition, leases, and financial instruments—have been the subject of discussion and preparation for CPAs…
CPAJ News Briefs
FASB/IASB News
FASB News FASB Addresses Questions About Hedge Accounting At its February 14 meeting, FASB discussed technical questions that have arisen since the publication of an…
In an interesting recent report, “The Practice of Now,” accounting and business software provider Sage summarized the results of an international survey of accountants on…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
IRS Offers in Compromise
A Case Study
In situations where a taxpayer has a greater tax liability than funds, there are several options available. The taxpayer can, of course, borrow the money…
2018 is here. Looking ahead to what will almost certainly be an eventful year, here are 10 trends that, in this author's opinion, will affect…
U.S. Macro Outlook for Tax Reform
A Plan That Doesn’t Get It Done
The sweeping changes to the tax code passed by the Trump administration and the Republican Congress will significantly impact the near-term economic outlook. The $1.5…
ICYMI | A Snowbird Must Carefully Plan Its Flight
Establishing Tax Residency under the Laws of New York and Florida
New York residents sometimes relocate to Florida to take advantage of that state's more lenient tax laws (not to mention more moderate climate). While establishing…
Hidden Tax Savings when Raising Employee Compensation
Options for Shareholder-Employees and Domestic Production
When raise and bonus discussions arise, managers often fail to fully consider the tax implications of such decisions. While an increase in the company's compensation…
The Tax Cut and Jobs Act (TCJA) was signed into law by President Trump on December 22, 2017 and is the most comprehensive tax law…
Individual retirement accounts are a popular and effective method of saving for retirement. For some individuals, however, there is a catch: starting at age 70½,…