Latest Articles

  • Study: Swiss Sewers Flush $2 Million Worth of Gold Annually

    By:
    Chris Gaetano
    |
    Oct 11, 2017
    A recent study has found that about 95 pounds of gold, $2 million worth at current prices, is flushed through the Swiss sewage system every year. 
  • FASB Makes Long-Awaited Nonprofit Proposal

    By:
    Chris Gaetano
    |
    Oct 10, 2017

    The question of whether a transaction should count as an exchange or a contribution—and whether a contribution is conditional or unconditional—is one that has long challenged not-for-profit accountants, with no real consensus as to the proper treatment. A new proposed accounting standards update, issued on Aug. 3 by the Financial Accounting Standards Board (FASB), aims to end this ambiguity by providing a consistent methodology. While it’s relevant mainly for nonprofits, if approved, it would apply to every entity that receives or makes contributions of cash and other assets. 

  • Report: Women's Advancement in Workplace Losing Ground in Some Areas

    By:
    Chris Gaetano
    |
    Oct 10, 2017
    A study looking at 222 companies employing more than 12 million people, which included more than 70,000 individual surveys and a smaller number of in-person interviews, found that women's advancement in the workplace has either stalled or, in some areas, actually lost ground in 2017. 
  • Guardian: Deloitte Hack Hit Server Containing Emails From Across US Government

    By:
    Chris Gaetano
    |
    Oct 10, 2017
    The recent data breach of Big Four firm Deloitte may have been, upon further investigation, bigger than originally thought. While initially believed to have only impacted six clients, sources with knowledge of the hack told the Guardian they believed that this number is closer to 350, which includes four US government departments, the United Nations and some of the world’s biggest multinationals.
  • Regulatory Roundup: Oct. 4-10

    By:
    Chris Gaetano
    |
    Oct 10, 2017
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA’s regular series that collects relevant regulatory announcements from the past week, and puts them in one place to help you stay on top of the issues.
  • PCAOB Releases Revenue Recognition Guidance for Auditors

    By:
    Chris Gaetano
    |
    Oct 6, 2017
    The Public Company Accounting Oversight Board (PCAOB) has released staff guidance for how auditors can deal with the new revenue recognition standards. 
  • Study: Financial Rewards May Discourage Whistleblowers in Certain Circumstances

    By:
    Chris Gaetano
    |
    Oct 6, 2017
    A recent study has found that adding a financial incentive can, in certain cases, actually inhibit whistleblowers because the possibility of reward changes the choice from a moral decision to a cost-benefit one. 
  • Japanese Woman Works 152 Hours of Overtime, Dies

    By:
    Chris Gaetano
    |
    Oct 5, 2017
    A Japanese woman was said to have died to heart failure after working 152 hours of overtime over the course of a month. 
  • SEC Charges NY-based Investment Adviser With Running $20 Million Ponzi Scheme

    By:
    Chris Gaetano
    |
    Oct 5, 2017
    The Securities and Exchange Commission said that a Westchester investment adviser convinced 42 friends and acquaintances to invest millions of dollars into a risky options-trading scheme, lost pretty much all of it, but continued to tell them everything was fine as he desperately sought new investors to pay back the old ones. 
  • Amazon Hit With 250M Euro Tax Bill

    By:
    Chris Gaetano
    |
    Oct 4, 2017
    The European Union said that gigantic Internet retailer Amazon owes 250 million euros, approximately $293 million, because it benefited from a tax agreement with Luxembourg that was later found to be illegal.