As we enter our 125th year of representing and advocating for CPAs, I can't help but be struck by the footprint we have made on…
FASB News Definition of SOFR to be Amended for Accounting Rules FASB voted to amend the definition of the Secured Overnight Financing Rate (SOFR) in…
FASB News Credit Losses, Leases Among Topics at CPE Forum FASB’s semiannual online training forum for professionals and companies that offer accounting for continuing professional…
FASB News Debate over Revising Goodwill Accounting Rules Continues On March 2, FASB continued hammering out revisions it aims to propose about the reporting of…
ICYMI | 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…
FASB News Trustees Working on Protocols to Reopen to Visitors The nation’s two main accounting rulemaking boards have not yet fully opened their offices to…
FASB News Private Companies Misjudging Effort Needed to Adopt New Lease Accounting Rules Some private companies have misjudged the amount of backwork that FASB’s new…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
By Cece Leung; Lioncrest Publishing, ISBN: 978-1-5445-2114-5 Reviewed by Dan Torpey Cece Leung's Dear Accountant is an innovative and creative work in accounting. It is both inspiring…
It can be hard to know which medical insurance to use during the age of retirement when someone continues working. This is especially true when…
FASB News Most Investors Don’t Voluntarily Weigh-in on Key Topics FASB has to go beyond the norm to reach investors for input about accounting topics,…
Understanding CPA Mobility
How to Abide by the Rules
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…