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News

The Daily

  • To Beat Tax Refund Theft, Timing Counts

    By:
    Chris Gaetano
    |
    Nov 30, 2015
    Tax refund theft is a growing problem, but an article on CNN Money proposes a novel solution: claim your refund first before potential thieves can get to it. 
  • Study: Graphs Wow People Even if They Add Nothing to Discussion

    By:
    Chris Gaetano
    |
    Nov 23, 2015
    Want to convince people that your shaky proposition is actually rock solid and needs to be supported? Add a graph. 
  • TIGTA Asks IRS to Reconsider Who is High-Income

    By:
    Chris Gaetano
    |
    Nov 23, 2015
    The Treasury Inspector General for Tax Administration (TIGTA) in a recent report said the IRS has improved its process for auditing high-income tax payers, but said the service could make more efficient use of its resources by rethinking just who counts as high-income in the first place. 
  • Treasury Dept. Announces New Rules to Curb Inversions

    By:
    Chris Gaetano
    |
    Nov 20, 2015
    The U.S. Treasury Department released new rules that are intended to make corporate inversions less appetizing to companies. 
  • Owe $50K or More in Taxes? You May Lose Your Passport

    By:
    Chris Gaetano
    |
    Nov 20, 2015
    A provision tucked into a bill that mainly has to do with funding federal highways would target serious tax delinquents by either denying or revoking their U.S. passports. 
  • There's Tough, But Then There's Too Tough

    By:
    Chris Gaetano
    |
    Nov 19, 2015
    Yes, sometimes being the boss requires laying down the law, cracking the whip, putting the fear of God into people, and various other metaphors for exerting your authority in ways that may not be seen as friendly. But, just like being too nice is a bad idea, so is being too mean. 
  • FAF Makes Small Tweaks to Private Company Council After Three-Year Review

    By:
    Chris Gaetano
    |
    Nov 19, 2015
    The Financial Accounting Foundation (FAF) plans to tweak the operations and procedures of the Private Company Council without substantially changing its approach to non-public company financial reporting standards. 
  • Top SEC Accountant Calls for Allowing Supplemental IFRS Use in US

    By:
    Chris Gaetano
    |
    Nov 18, 2015
    SEC Chief Accountant James Schnurr has recommended that public companies in the U.S. be allowed to supplement their GAAP financial information with International Financial Reporting Standards if they so choose. 
  • Would You Spend $45,000 on Thanksgiving Dinner?

    By:
    Chris Gaetano
    |
    Nov 18, 2015
    If you thought your Thanksgiving dinner was expensive, try eating out at the Old Homestead Steakhouse, which is offering a feast worthy of Caligula with a $45,000 Thanksgiving feast. 
  • Could Robo-Recruiters Be Next Wave of Office Computerization?

    By:
    Chris Gaetano
    |
    Nov 17, 2015
    We've heard about robots being financial advisers and even CEOs, but a recent report from the National Bureau of Economic Research has found that computer algorithms may even be more skilled at deciding who to hire in the first place. 
  • GAO Faults IRS for Poor Internal Controls

    By:
    Chris Gaetano
    |
    Nov 17, 2015
    The Government Accountability Office (GAO), in a recent report, faulted the IRS for continuing material weaknesses over unpaid tax assessments. 
  • Want a Young Person to Get Back to You? Email Them

    By:
    Chris Gaetano
    |
    Nov 13, 2015
    You called, you texted, you hired a sky writer to spell out your message, but your young colleague still won't get back to you. A recent report suggests that what you should done was email them. 
  • Study: Accountants Add $575 Billion Worldwide

    By:
    Chris Gaetano
    |
    Nov 13, 2015
    A recent study commissioned by the International Federation of Accountants has found that every single accountant in the world combined adds about $575 billion in value to the global economy. 
  • New Bag Designed Specifically for Moving $1 Million in Cash

    By:
    Chris Gaetano
    |
    Nov 12, 2015
    There are times, I suppose, when a burlap bag with a giant dollar sign painted on it just won't do. For the times in your life when you need to move $1 million in cash from one location to another, a new bag designed specifically for that purpose might be the answer to perhaps the number one problem we'd all like to have. 
  • FASB Approves Lease Standard

    By:
    Chris Gaetano
    |
    Nov 12, 2015
    The Financial Accounting Standards Board (FASB) voted in its meeting on Wednesday to proceed with its final lease standard. 
  • NYS to Demand Banks Get Tougher on Cyber Security

    By:
    Chris Gaetano
    |
    Nov 11, 2015
    The New York State Department of Financial Services is preparing standards that would require the industry to get adopt tougher measures to protect themselves from cyber attacks.  
  • FASB Expected to Come to Final Vote on Lease Standard

    By:
    Chris Gaetano
    |
    Nov 11, 2015
    Concluding nearly a decade of research, outreach, negotiations, exposure drafts, and revised exposure drafts, the Financial Accounting Standards Board is finally set to vote on whether to create a radical change standards on lease accounting. 
  • Study: Your Team Doesn't Have to Trust Each Other 100 Percent

    By:
    Chris Gaetano
    |
    Nov 10, 2015
    A study asserts that a little bit of distrust can actually be good for a team, according to an article in the Harvard Business Review. 
  • Removing Small Perks Could Have Big Costs

    By:
    Chris Gaetano
    |
    Nov 10, 2015
    A lot of companies have certain perks that, while not necessary life-altering, do their part by making the work day just a little more tolerable. While budget-conscious managers may think getting rid of them won't make much of a difference, a recent article in Bloomberg suggests it can have a bigger impact than people might think. 
  • PCAOB Negotiations with China Fall Apart

    By:
    Chris Gaetano
    |
    Nov 9, 2015
    Negotiations between the Public Company Accounting Oversight Board (PCAOB) and the Chinese government over a possible joint inspection program have fallen through over terms that the board felt were overly narrow.