Identity theft continues to be a serious issue for individuals and businesses. According to Javelin Research's 2016 Identity Theft Study, $15 billion was stolen from…
Taxation of multinational corporations has been a focus of the U.S. Department of the Treasury, tax professionals, and politicians for many years. One major concern…
New York State and City Prior Net Operating Loss Conversions
Common Errors and Important Highlights
At a recent state and local tax conference, the New York State Department of Taxation and Finance (DTF) and the New York City Department of…
A Tough Tax Act to Follow
A Piecemeal Approach to Reform that Will Need Its Own Reform
In order to meet legislative rules that would have required some bipartisan support, the Republicans have passed historic and comprehensive tax reform legislation that is…
First Look at the Tax Cuts and Jobs Act of 2017
Impact on Individuals
On December 20, 2017, Congress passed the Tax Cuts and Jobs Act (H.R. 1) designed to cut taxes on individuals and businesses, stimulate the economy,…
A Tax Reform Law for Our New Normal
Publisher’s Column
In The CPA Journal's December 1986 issue, authors Stanley Rier and Leonard Goodman summed up their analysis of how that year's major tax reform bill would…
Despite recent reports to the contrary, the sky is not falling. The increasing anticipation—or concern—over fundamental tax reform will certainly be with us in 2017,…
CPAJ News Briefs
FASB/AICPA News
FASB News Staff Document Advises Private Companies, Not-for-Profits to Follow SEC Guidance on Tax Reform Private companies and not-for-profit entities should be able to apply…
Forensic Accounting
A Value-Adding Skill for the CPA
Accountants, especially those in public accounting, normally strive for attainment of the coveted Certified Public Accountant (CPA) designation. After four to five years of study,…
Implementation of Leases Standard Raises Questions
FASB/GASB/ISAB News
FASB News Implementation of Leases Standard Raises Questions FASB has received several requests for clarifications to its lease accounting standard, and the board plans to…
In Brief As the demands placed on professionals in all fields continue to change rapidly, particular attention has been paid to accounting education programs. There…
More Accounting Changes
Financial Reporting through the Age of Crisis and Globalization
This book is part autobiography and part chronicle of recent events in accounting standards setting. The book follows Herz's role as the chair of FASB…
The board of directors of a nonprofit organization has three primary legal fiduciary duties: duty of care, duty of loyalty, and duty of obedience. Here…
I enjoyed Richard Kravitz's article in the April issue of the CPA Journal (“Serving the Public Interest,” p. 14). The message's import deserves some comment.…
A year ago at this time, we were putting the final touches on the inaugural Moynihan Fund Gala, hoping that if we transformed our staid…
Profiles in Community-Oriented, Socially Engaged Professionals
It’s Amazing What CPAs Can Do
Accounting as a profession carries a public interest responsibility that also contributes significant value to society. Accounting can also lead one to some amazing careers,…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
A basic postulate of financial accounting is that timely financial reporting requires the use of estimates. And it is a fact that all accounting estimates,…
FIN 46(R), Consolidation of Variable Interest Entities—An Interpretation of ARB No. 51, was issued in December 2003 in response to accounting scandals in which certain…
In March, I announced to CPA Journal readers that the New York State Society's 119th Annual Dinner would be a bit different this year—a different…
As more organizations integrate sustainability into their business strategies, the traditional role of accountants is expanding to provide sustainability reporting and assurance services. To be…
It’s Amazing What CPAs Can Do
A Career Spent Wearing Many Hats
Hollywood has long stereotyped accountants as boring number crunchers. In my view, that is not the case. For the past 25 years, the accounting profession…