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News

The Daily

  • Price to Kill "Too Big to Fail" Once and For All Could Be as High as $1.19 Trillion

    By:
    Chris Gaetano
    |
    Nov 9, 2015
    Recently approved standards from the Financial Stability Board, an international consortium of central banks and financial regulators, will require banks raise more than a trillion dollars to head off a repeat of the too-big-to-fail dilemma.   
  • Report: Not Even CEOs Safe From Automation Risk

    By:
    Chris Gaetano
    |
    Nov 6, 2015
    A recent report estimates that about 20 percent of what a CEO does could probably be done by a machine. 
  • NY Fed Chief: Wall Street Must Change its Culture

    By:
    Chris Gaetano
    |
    Nov 6, 2015
    The head of the New York Federal Reserve, in a recent speech, suggested that perhaps the issue isn't a few bad apples on Wall Street, but the barrel itself. 
  • Proposal Would Allow Older CPAs to Designate Themselves "Retired CPAs"

    By:
    Chris Gaetano
    |
    Nov 5, 2015
    With an eye toward demographics, the AICPA and National Association of State Boards of Accountancy have issued a joint proposal that, if ultimately approved, would allow CPAs aged 55 and older to designate themselves a "Retired CPA" which would allow them to practice in a limited capacity without having to keep up with being an active CPA in practice. 
  • News of IRS Stingray Surveillance Tech Prompts Swift Action by Congress

    By:
    Chris Gaetano
    |
    Nov 5, 2015
    Recent revelations that the IRS has the ability to lift metadata from cell phones has raised alarm in legislators in both the House and the Senate, with inquires and proposed legislation being initiated just days after the matter broke into headlines. 
  • Gov. Cuomo Signs "Women's Equality Agenda" Legislation into Law

    By:
    Chris Gaetano
    |
    Nov 4, 2015
    Governor Andrew Cuomo signed into law a package of five bills intended to curb gender-based workplace discrimination in New York. 
  • AICPA Given Go-Ahead on Suit Against IRS Over Tax Registration Program

    By:
    Chris Gaetano
    |
    Nov 4, 2015
    The AICPA has been given permission by an appeals court to pursue a previously-dismissed lawsuit against the IRS over its voluntary tax preparer registration program. 
  • Let Google Write Your Next Email

    By:
    Chris Gaetano
    |
    Nov 3, 2015
    Ever feel like you're writing the same email over and over again? Google knows your frustration, and is ready to roll out a new service that basically writes out a reply for you. 
  • Study: People Overestimate How Long They Work by About 5-10 Percent

    By:
    Chris Gaetano
    |
    Nov 3, 2015
    An exhaustive study of how people spend their days has found that, contrary to popular perceptions, people are not as busy as they think. 
  • IRS Reach Expands as New Data Sharing Agreements Come Online

    By:
    Chris Gaetano
    |
    Nov 2, 2015
    Evading the IRS became a little more difficult with the service beginning automated digital exchange of financial information with its counterparts in over 70 different nations. 
  • Poll: Companies Slow to Adapt to New Revenue Recognition Standard

    By:
    Chris Gaetano
    |
    Nov 2, 2015
    The new revenue recognition standard, approved in May of 2014, promises to radically change how companies think about what does and does not count as revenue. Despite this, however, a PwC survey has found companies still woefully unprepared for its implementation. 
  • SEC Approves Equity Crowdfunding

    By:
    Chris Gaetano
    |
    Oct 30, 2015
    While backers of crowd funded projects have received rewards such as free t-shirts or lunch with a celebrity, new rules approved this morning by the Securities and Exchange Commission allows them to get something they never could before: actual equity. 
  • IASB Releases Proposal on Materiality

    By:
    Chris Gaetano
    |
    Oct 30, 2015
    The International Accounting Standards Board (IASB) has released draft guidance outlining the circumstances in which something can be considered material. 
  • On Mental Health In the Accounting Industry

    By:
    Chris Gaetano
    |
    Oct 29, 2015
    A recent post on the accounting blog Going Concern features a very personal account of dealing with panic attacks and anxiety at her already high-stress accounting job. 
  • Study: Typical Office Air Quality Makes Us Think Less Gooder

    By:
    Chris Gaetano
    |
    Oct 29, 2015
    Ever get the feeling that the longer you're in the office, the tougher it is to think? Maybe you're just tired, or maybe, according to a recent study, it's elevated levels of CO2 and other airborne pollutants. 
  • Study: When In Doubt, Shake Hands

    By:
    Chris Gaetano
    |
    Oct 28, 2015
    In what has been dubbed the "biggest study ever conducted into physical contact," it has been revealed that, when it comes to touching strangers, most people tend to draw the line at shaking hands. 
  • Budget Deal Allows IRS to Deal With Entire Partnership at Once

    By:
    Chris Gaetano
    |
    Oct 28, 2015
    Whereas before, if the IRS wanted to audit a large partnership, it would need to go through each member individually, this week's budget deal allows it to audit the entire partnership as a single entity. 
  • Bill Would Restrict SEC's Use of Administrative Courts

    By:
    Chris Gaetano
    |
    Oct 27, 2015
    The Securities and Exchange Commission has made extensive use of administrative courts to enforce its regulations since the Dodd-Frank Act expanded the circumstances in which they could be used, but a new bill would, if implemented, significantly narrow their use. 
  • Recession Fears Among Finance Pros Highest in Two Years

    By:
    Chris Gaetano
    |
    Oct 27, 2015
    A survey of economists, fund managers and analysts show that, among financial professionals, fear of a looming recession is higher than it's been in two years. 
  • Firms to Try Name-Blind Hiring to Reduce Racism in the Process

    By:
    Chris Gaetano
    |
    Oct 26, 2015
    Several large firms in the UK, including Deloitte and KPMG, have said they will begin recruiting and evaluating job candidates without knowing their names, a process that is intended to account for unconscious biases.