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News

The Daily

  • NEWS HIGHLIGHTS FOR TUESDAY - 7.12.16

    By:
    Maya Lindsay
    |
    Jul 12, 2016

    Accounting and Financial News Stories

    Accountants, Auditors to Get a New Ethics Rule Book
    Wall Street Journal
    Accountants will soon get a new and expanded rule book that gives them step-by-step guidance on what to do if they uncover corporate misdeeds, from money laundering to environmental abuses. The International Ethics Standards Board for Accountants plans to release new standards this week aimed at resolving potential conflicts of interest for internal and external accountants and auditors, who can feel bound by strict client confidentiality rules, even when they uncover wrongdoing.

  • NEWS HIGHLIGHTS FOR MONDAY - 7.11.16

    By:
    Maya Lindsay
    |
    Jul 11, 2016

    NYSSCPA Members in the News

    Greg Altman (Buffalo)
    On the Record / July 9, 2016
    The Buffalo News
    Hires/Honors/Promotions - The New York State Society of Certified Public Accountants  elected Greg J. Altman, CPA, and the director of finance and operations at Health Sciences Charter School, vice president of its board of directors for a one-year term. Altman was previously a member of the membership and awards committee and served as a past Buffalo chapter president, president-elect, treasurer and executive board member.

     

  • NEWS HIGHLIGHTS FOR FRIDAY - 7.8.16

    By:
    Maya Lindsay
    |
    Jul 8, 2016

    NYSSCPA Members in the News

    Tracey Niemotko (Mid-Hudson)
    The Mount’s Niemotko Joins NYS Society of Certified Public Accountants Board
    Mount Saint Mary College
    Tracey Niemotko, professor of accounting and chair of Mount Saint Mary College’s School of Business, was recently elected to The New York State Society of Certified Public Accountants Board of Directors as a Chapter Representative. Niemotko, who earned accounting and Juris Doctor degrees from Fordham University, is a certified public accountant and a certified fraud examiner.

     

     

  • NEWS HIGHLIGHTS FOR THURSDAY - 7.7.16

    By:
    Maya Lindsay
    |
    Jul 7, 2016

    Accounting and Finance News Stories

    The Multiple-Employer Trap

    Accounting Today
    All across America, hard-working people receive their personal income tax returns and wonder why they still owe money at tax time. For some the answer is that they sacrificed adequate withholding to receive more money with each paycheck.

  • NEWS HIGHLIGHTS FOR WEDNESDAY - 7.6.16

    By:
    Maya Lindsay
    |
    Jul 6, 2016

    NYSSCPA Members in the News


    Harold Dieters (Suffolk)

    A More Integrated Society

    Long Island Business News

    The New York State Society of Certified Public Accountants announced last month it is broadening its membership beyond the accounting profession to welcome attorneys, bankers and others as associate members. Non-accounting professionals with a bachelor’s degree, working full-time for the government, a nonprofit or in the financial, legal or banking industries, can now join the organization, but without the right to vote in society elections or to serve a leadership role.

  • NEWS HIGHLIGHTS FOR TUESDAY - 7.5.16

    By:
    Maya Lindsay
    |
    Jul 5, 2016

    NYSSCPA Members in the News

    David Evangelista (Rockland), Harold L. Deiters III (Suffolk), Greg J. Altman (Buffalo), and Anthony S. Chan (Manhattan/Bronx)
    State CPA Societies Tap New Leaders
    Accounting Today
    In New York, employee benefit plans advisor and auditor David Evangelista was recently elected president of the New York State Society of CPAs’ Foundation for Accounting Education by the FAE’s board of trustees. Evangelista, of Stony Point, N.Y., is a principal at MSPC Certified Public Accountants and Advisors. His one-year term as FAE president began June 1. 

  • NEWS HIGHLIGHTS FOR THURSDAY - 6.23.16

    By:
    Maya Lindsay
    |
    Jun 23, 2016

    NYSSCPA Members in the News

    David Evangelista (Rockland)
    Evangelista to Lead NY Accounting Foundation
    CPA Practice Advisor
    David Evangelista, CPA, a nationally-known employee benefit plans advisor and auditor, was recently elected president of the Foundation for Accounting Education’s (FAE) Board of Trustees.  Evangelista, of Stony Point, N.Y., is a principal at MSPC Certified Public Accountants and Advisors, P.C., with offices in New York and New Jersey. His one-year term as FAE president began June 1.

  • NEWS HIGHLIGHTS FOR WEDNESDAY - 6.22.16

    By:
    Maya Lindsay
    |
    Jun 22, 2016

    NYSSCPA Members in the News

    NYSSCPA COAP Program – Adelphi University
    Adelphi University kicks off summer 'COAP' program for CPA hopefuls
    Accounting Today
    Adelphi University announced this week that their Robert B. Willumstad School of Business will kick off the annual Career Opportunities in the Accounting Profession (COAP) summer program, designed to introduce minority high school juniors in New York State to the accounting profession. Approximately 40 local students will participate in Adelphi's five-day program, which begins Saturday, June 25.

  • NEWS HIGHLIGHTS FOR TUESDAY - 6.21.16

    By:
    Maya Lindsay
    |
    Jun 21, 2016
    Accounting and Finance News Stories

    IRS Chief Koskinen Fights First Appointee Impeachment Since 1876
    Bloomberg Politics
    Before he became the top U.S. tax collector and the target of an unprecedented Republican-led impeachment drive, John A. Koskinen majored in physics, guided the country through the “Y2K” problem and ran a foundation that promotes youth soccer. Now, amid a three-year controversy over the Internal Revenue Service’s scrutiny of conservative groups, Koskinen, 76, is being re-educated in the exertion of forces, the limits of computer technology and -- according to a predecessor -- the sensation of being kicked around.
  • NEWS HIGHLIGHTS FOR MONDAY - 6.20.16

    By:
    Maya Lindsay
    |
    Jun 20, 2016

    Accounting and Financial News Stories

    Junk Bonds Regain Fans
    Wall Street Journal
    Some investors are turning again to junk bonds, saying their higher yields make them a good bet at a time when many stocks and government bonds appear richly valued. The idea of buying into lower-rated companies with large debt loads at a time of general economic unease and acute concern about a possible U.K. departure from the European Union is anathema to many risk-averse investors.

     

     

  • NEWS HIGHLIGHTS FOR WEDNESDAY - 6.15.16

    By:
    Maya Lindsay
    |
    Jun 15, 2016

    Accounting and Finance News Stories

    Virtual Currencies Still Dogged by Tax Issues, CPAs Say
    Bloomberg BNA
    Bitcoin and other virtual currencies still pose tax problems for those attempting to stay in compliance and more IRS guidance is needed, a group of accounting professionals said. In a June 10 letter to the Internal Revenue Service, an American Institute of CPAs technical advisory panel said clarifications are needed, in particular on the exchange rates taxpayers should use to determine the fair market value of virtual currency in U.S. dollars.


    Virtual Currencies Still Dogged by Tax Issues, CPAs Say

    Bloomberg BNA

    Bitcoin and other virtual currencies still pose tax problems for those attempting to stay in compliance and more IRS guidance is needed, a group of accounting professionals said. In a June 10 letter to the Internal Revenue Service, an American Institute of CPAs technical advisory panel said clarifications are needed, in particular on the exchange rates taxpayers should use to determine the fair market value of virtual currency in U.S. dollars.

    Virtual Currencies Still Dogged by Tax Issues, CPAs Say

    Bloomberg BNA

    Bitcoin and other virtual currencies still pose tax problems for those attempting to stay in compliance and more IRS guidance is needed, a group of accounting professionals said. In a June 10 letter to the Internal Revenue Service, an American Institute of CPAs technical advisory panel said clarifications are needed, in particular on the exchange rates taxpayers should use to determine the fair market value of virtual currency in U.S. dollars.

    Virtual Currencies Still Dogged by Tax Issues, CPAs Say

    Bloomberg BNA

    Bitcoin and other virtual currencies still pose tax problems for those attempting to stay in compliance and more IRS guidance is needed, a group of accounting professionals said. In a June 10 letter to the Internal Revenue Service, an American Institute of CPAs technical advisory panel said clarifications are needed, in particular on the exchange rates taxpayers should use to determine the fair market value of virtual currency in U.S. dollars.

  • NEWS HIGHLIGHTS FOR TUESDAY - 6.14.16

    By:
    Maya Lindsay
    |
    Jun 14, 2016
    Accounting and Finance News Stories

    AICPA Asks IRS for More Tax Guidance on Virtual Currency Transactions
    Accounting Today
    The American Institute of CPAs has sent a letter to the Internal Revenue Service requesting additional guidance about how existing tax principles apply to virtual currency transactions, such as those in Bitcoin.  “Virtual currency transactions, in which taxpayers increasingly engage, add a new layer of complexity to the analysis of a client’s reporting requirements,” AICPA Tax Executive Committee chair Troy K. Lewis wrote in a letter last Friday.

  • NEWS HIGHLIGHTS FOR MONDAY - 6.13.16

    By:
    Maya Lindsay
    |
    Jun 13, 2016

    NYSSCPA Members in the News

    Matt Bryant (Rochester)
    Financial advice for fathers
    WROC Rochester First
    As we approach Father's Day this coming weekend, CPA Matt Bryant offered up some financial advice for Dads Monday on News 8 at Sunrise. Bryant said fathers should set up an allowance for their children at a young age to see money coming in and to learn that items have a value to them.

     

  • NEWS HIGHLIGHTS FOR THURSDAY - 6.3.16

    By:
    Maya Lindsay
    |
    Jun 3, 2016
    NYSSCPA Members in the News

    Gary Carpenter (Syracuse)
    More grandparents assisting in college costs
    The Bulletin
    A college education — even at a highly rated private institution — was once regarded as a relatively affordable route to lifelong prosperity, but in recent years it has become a hobbling financial burden for many families. To avoid a potential reduction in aid, grandparents could postpone sending 529 proceeds until the last two years of college, suggests Gary Carpenter, a Syracuse, New York-based certified public accountant and executive director of the National College Advocacy Group, a nonprofit focused on college financing.


  • NEWS HIGHLIGHTS FOR THURSDAY - 6.2.16

    By:
    Maya Lindsay
    |
    Jun 2, 2016
    NYSSCPA Members in the News

    F. Michael Zovistoski (Northeast)
    NYSSCPA inducts F. Michael Zovistoski as 97th president, opens doors to non-CPAs
    Accounting Today
    The New York State Society of CPAs (NYSSCPA) inducted Albany CPA F. Michael Zovistoski, a partner at UHY, as its 97th president on May 19 at the NYSSCPA’s Foundation for Accounting Education (FAE) Moynihan Fund Gala, the Society announced this week. Zovistoski's one-year term begins June 1.


     
  • NEWS HIGHLIGHTS FOR WEDNESDAY - 6.1.16

    By:
    Maya Lindsay
    |
    Jun 1, 2016
    NYSSCPA Members in the News


    Santo Caracciolo (Southern Tier)
    Movers: Business success in the Southern Tier
    Press & Sun-Bulletin
    Piaker and Lyons, P.C. announced Santo D. Caracciolo, CPA has been elected as the president of the Southern Tier Chapter of the New York State Society of CPAs. Caracciolo is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants.

  • NEWS HIGHLIGHTS FOR TUESDAY - 5.31.16

    By:
    Maya Lindsay
    |
    May 31, 2016

    Accounting and Finance News Stories

    Dollar Bonds Offer a Look at Risk

    Wall Street Journal
    Investors trying to assess the dangers of a resurgent emerging-market crisis or the return of troubles in the eurozone should be looking to one of the markets not directly manipulated by central bankers: dollar bonds issued by countries other than the U.S. Yields on these bonds suggest investors think that Russia, one of the biggest emerging markets, is now less risky than Portugal, the next potential point of failure in the eurozone after Greece.

  • NEWS HIGHLIGHTS FOR FRIDAY - 5.27.16

    By:
    Maya Lindsay
    |
    May 27, 2016

    Accounting and Finance News Stories

    Credit Unions, Community Banks Duke It Out Over Planned Rule
    Wall Street Journal
    A long-standing rivalry between U.S. credit unions and community banks has been reignited by a government push to boost credit-union membership. The proposed rule from the National Credit Union Administration, credit unions’ federal regulator, could be completed by this fall.

     

  • NEWS HIGHLIGHTS FOR WEDNESDAY - 5.25.16

    By:
    Maya Lindsay
    |
    May 25, 2016

    Accounting and Financial News Stories

    Audit Innovation Helps Private Companies Improve Performance
    Accounting Today
    Breakthrough innovations in such areas as artificial intelligence, workflow automation and data analytics are enabling auditors to deliver powerful insights that simply weren’t possible before. The good news for private companies? Audit innovation is scalable, making it possible for private companies to experience the benefits of innovative audits that are being conducted for larger, public companies.

     

  • NYSSCPA Comments on Proposals Regarding Hosting Services, Goodwill Impairment

    By:
    Chris Gaetano
    |
    Jul 7, 2016
    The NYSSCPA recently released a pair of comment letters, one regarding the independence implications of hosting services, and the other on simplifying accounting for goodwill impairment.