The Daily

News and daily posts about CPAs, the accounting and financial industries, and more.

  • On the Importance of Coffee to the Functioning of the Modern Workplace

    By:
    Chris Gaetano
    |
    Jul 29, 2015
    A recent study says that coffee's benefits extend far beyond the inevitable caffeine crash a few hours later: the Journal of Alzheimer's Disease says that drinking a moderate, consistent amount each day reduces later risk for developing dementia and Alzheimer's. For offices where the coffee machine has a special place in the hearts of every worked (see: virtually all of them), this news should provide a nice extra pick-me-up beyond the initial jolt of that first sip. 

    This has gotten us thinking about the role coffee in general plays in the modern workplace, namely how essential it has become to keeping staff satisfied and motivated. 
  • Modern Day Bartleby Lives in the Office

    By:
    Chris Gaetano
    |
    Jul 28, 2015
    Well, I guess that's one way to address work/life balance: not one but two people have recently written articles about how they secretly lived in their offices for at least a little while, and all things considered both seem pretty good about it. 
  • Chinese Stock Crash Claiming U.S. Wealth in Wake

    By:
    Chris Gaetano
    |
    Jul 28, 2015
    China's stocks have been taking a beating in the market, with the Shanghai Composite Index losing 8.5 percent of its value Monday in the biggest selloff in eight years, and the damage isn't being contained to its own borders: the crash has destroyed nearly $40 billion in wealth here in the U.S. as well. 
  • Study: Collaboration Can Both Foster and Kill Innovation

    By:
    Chris Gaetano
    |
    Jul 27, 2015
    Two heads might be better than one, but a recent study finds that this doesn't necessarily scale. Researchers from Oxford, University of Florida and Columbia Business School have found that being able to communicate with other people across a networked structure can indeed facilitate the formation of new ideas by the group as a whole, the more dense this network is, the less innovative each individual person is within it. Why? 
  • Auditor Rotation May Produce Less, Not More, Skepticism

    By:
    Chris Gaetano
    |
    Jul 27, 2015
    While proponents of mandatory auditor rotation say it would enhance professional skepticism, a recent study posits that this may not always be the case and, indeed, may have the exact opposite effect. 
  • Poll: CFOs Avoid Social Media, Prefer Email

    By:
    Chris Gaetano
    |
    Jul 24, 2015
    A recent poll shows that if you want to reach a CFO, you probably shouldn't go looking for them on Facebook or Twitter, as only 18 percent prefer to use social networks to keep up with colleagues versus email, a dramatic drop since the last time this poll was taken. 
  • From $108 Million to Chapter 7, One Former NBA Star's Story

    By:
    Chris Gaetano
    |
    Jul 24, 2015
    Professional athletes make big money, but they have a tendency to lose big money, too: three-time NBA all-star Antoine Walker is but one example. CNN Money has an article discussing how exactly it is he went from a millionaire many times over to having to file Chapter 7 bankruptcy just two years after retirement. 
  • GAO Finds Internal Controls at IRS's Exempt Org Unit Wanting

    By:
    Chris Gaetano
    |
    Jul 23, 2015
    The Government Accountability Office (GAO) said in a recent report that the IRS's Exempt Organizations unit had internal controls that, in several areas, were not well designed or well implemented, which increases risk that the unit could "select organizations for examination in an unfair manner." 
  • IASB Votes to Delay Revenue Recognition by One Year

    By:
    Chris Gaetano
    |
    Jul 23, 2015
    The International Accounting Standards Board (IASB) voted to delay implementation of its revenue recognition standard for one year during its most recent meeting, just a few weeks after the Financial Accounting Standard Board (FASB) voted for its own delay. 
  • The Cure for the Common Powerpoint: Pictures

    By:
    Chris Gaetano
    |
    Jul 22, 2015
    What's interesting and horrifying about PowerPoint presentations is that no one seems to like them, yet everyone keeps on using them. So, despite persistent criticism, it looks like we're stuck with it for the foreseeable future. May as well make the best of it

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