Latest Articles

  • IFRS Foundation Makes "Tweak" to Constitution

    By:
    Chris Gaetano
    |
    Nov 30, 2016
    The IFRS Foundation, the organization that oversees the International Accounting Standards Board, has amended its constitution to, among other things, reduce the size of the board and change the geographical distribution of its trustees. 
  • Regulatory Roundup, Nov. 23-29

    By:
    Chris Gaetano
    |
    Nov 29, 2016

    With so many regulators out there, it can be tough to keep track of everything they say from week to week. Luckily we here at The Trusted Professional have collected relevant regulatory announcements from this past week and put them here in one place to help you stay on top of regulatory issues or matters. This is the first of a regular series that will let you know what you may have missed in the past seven days. 

  • Study: Having a Younger Supervisor Can Hurt Morale, Performance

    By:
    Chris Gaetano
    |
    Nov 29, 2016
    A recent study from the Journal of Organizational Behavior has found that workers in companies where there are more younger managers of older employees had more negative emotions on the job, which translates into a penalty to financial and organizational performance. 
  • SEC Critiques Tesla for Use of Non-GAAP Metrics

    By:
    Chris Gaetano
    |
    Nov 29, 2016
    The Securities and Exchange Commission criticized electric car company Tesla Motors over its use of non-GAAP revenue calculations that the commission felt was outside the realm of acceptability, leading the company to eventually drop its use of non-GAAP metrics from earnings filings. 
  • NEWS HIGHLIGHTS FOR TUESDAY - 11.29.16

    By:
    Maya Lindsay
    |
    Nov 29, 2016
    Accounting and Financial News Stories

    The Path to Planning Success
    Accounting Today
    Whether a CPA firm chooses to provide personal financial planning services or not, you can still help pursue the success of your clients’ financial futures. It can be as simple as paying closer attention to the details and going just a little beyond telling them what happened last year. A progressive and caring CPA should always take the opportunity to make sure that their clients are well-served across the financial spectrum. For years, many CPAs have told or alerted their clients about gaps in their personal financial lives — yet the same issues emerge year after year, with a fix still needed.
  • NEWS HIGHLIGHTS FOR MONDAY - 11.28.16

    By:
    Maya Lindsay
    |
    Nov 28, 2016

    NYSSCPA Members in the News

    Scott Adair (Rochester)
    Back to work after retirement
    WROC Rochester First
    CPA Scott Adair discussed some of the considerations for people who decide to go back to work after retiring Monday on News 8 at Sunrise. "There's a lot of advice to give those people," said Adair. "One of the things is you really need to take a look at what current retirement benefits you are receiving. Take a look at what potential impact going back to work could have on income taxes, could have Social Security benefits, could have on health care, and ultimately could have on your overall financial projections as you move forward in life." Adair called Social Security benefits the hot topic.

     
  • SEC Names Wesley Bricker as New Chief Accountant, Replacing James Schnurr

    By:
    Chris Gaetano
    |
    Nov 28, 2016
    The Securities and Exchange Commission has named Wesley Bricker, a former PwC audit partner, as the new chief accountant, replacing outgoing head James Schnurr, who was seriously injured in a bike accident in April and is still in physical rehab for his injuries. 
  • WTO Rules Against Boeing Tax Subsidies, Declares Them Illegal

    By:
    Chris Gaetano
    |
    Nov 28, 2016
    The World Trade Organization has ruled against Washington State, saying that the tax break it gave to aerospace company Boeing to incentivize local production of the 777x jet violates international trade agreements and, should the ruling be upheld on appeal, must be removed. 
  • Overtime Pay Increase Rule, Set for Dec. 1, Faces Challenges

    By:
    Dominic G. Diongson
    |
    Nov 22, 2016

    The new overtime pay rule that goes into effect Dec. 1 faces challenges from legislators and President-elect Donald Trump, who begins his term in January, according to The Wall Street Journal.

  • NEWS HIGHLIGHTS FOR MONDAY - 11.21.16

    By:
    Maya Lindsay
    |
    Nov 21, 2016

    NYSSCPA Members in the News

    David Young (Rochester)
    Small business tax tips and advice with CPA Dave Young
    WROC Rochester First
    Small Business Saturday is this weekend, so Mark Gruba sat down with CPA Dave Young for some small business tax tips and good advice.  Some of Young's tips included staying organized and keeping good records, paying close attention to deductions, and even hiring your children.