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News

The Daily

  • Report: CPAs More Optimistic About Economy

    By:
    Chris Gaetano
    |
    Jun 3, 2016
    In comparison to last quarter, CPAs in business and industry are more optimistic about the economy, according to an AICPA survey. 
  • "Reply All" Brings Wells Fargo to Knees

    By:
    Chris Gaetano
    |
    Jun 2, 2016
    An internal email sent to 90,000 Wells Fargo employees brought the bank's servers to a grinding halt as workers continually used "reply all" to respond. 
  • Report: Federal Reserve Faces Constant Cyberattacks

    By:
    Chris Gaetano
    |
    Jun 2, 2016
    The U.S. Federal Reserve has been enduring a near-constant stream of cyber attacks since at least 2011, according to documents it released Wednesday. 
  • Firm Staffed Entirely By Robots Raises $130 Million

    By:
    Chris Gaetano
    |
    Jun 1, 2016
    It's a company that literally runs itself: styled as a Decentralized Autonomous Organization, it is aimed to run as a venture capital fund that operates with literally no human input whatsoever. 
  • Study: Generalists Win Out Over Specialists in Job Offers, Bonuses

    By:
    Chris Gaetano
    |
    May 31, 2016
    Researchers from Columbia and Tulane Universities have found that MBA graduates who chose to heavily specialize in finance got fewer job offers and smaller bonuses than those with a broader base of experience. 
  • IRS Warns of "Federal Student Tax" Scam

    By:
    Chris Gaetano
    |
    May 31, 2016
    Adding to the already voluminous bestiary of IRS-related scams, fraudsters are now calling students demanding payment of a federal student tax, which doesn't actually exist. 
  • Number of CPAs in the U.S.: 664,532

    By:
    Chris Gaetano
    |
    May 26, 2016
    The National Association of State Boards of Accountancy has, for the first time, determine just how many CPAs there are in the U.S. As of April, the answer is 664,532. 
  • SEC On the Prowl at Conferences

    By:
    Chris Gaetano
    |
    May 26, 2016
    Conferences are great places to reconnect with old colleagues, make new networking contacts and keep up with the latest industry gossip--and, if you're the SEC, to catch signs of possible securities law violations. 
  • 40 Percent of Swiss Voters Support Measure to Give Everyone $2500 a Month

    By:
    Chris Gaetano
    |
    May 25, 2016
    Switzerland is set to vote on a national referendum in June that, if passed, would give every single adult in Switzerland $2,500 a month untaxed and with no strings attached. 
  • Rise of Gig Economy Raises Tax Questions for Workers

    By:
    Chris Gaetano
    |
    May 25, 2016
    Workers in what has colloquially been called the "gig economy," typified by companies such as Uber or Task Rabbit, frequently underpay or overpay taxes because, often times, they're not entirely sure how much they have to pay. 
  • NEWS HIGHLIGHTS FOR TUESDAY - 5.24.16

    By:
    Maya Lindsay
    |
    May 24, 2016

    NYSSCPA Members in the News

    Buffalo Chapter Education Night Dinner
    Honor Roll (May 22): Recognizing accomplishments of WNYers
    The Buffalo News
    The Buffalo Chapter of the New York State Society of Certified Public Accountants recently held its annual Education Night Dinner honoring the outstanding junior, senior and graduate students at Western New York colleges and universities. Four D’Youville College accounting students were among those being honored for their academic accomplishments at the event.

  • NEWS HIGHLIGHTS FOR MONDAY - 5.23.16

    By:
    Maya Lindsay
    |
    May 23, 2016

    NYSSCPA Members in the News

    Dionne Warwick Serenades New York CPA
    Accounting Today
    Chart-topping singer Dionne Warwick sang for the New York State Society of CPAs at the NYSSCPA Foundation for Accounting Education’s annual gala Thursday evening, raising funds for young students interested in entering the accounting field. The gala raised funds in support of the NYSSCPA’s Career Opportunities in the Accounting Profession (COAP) program, a college readiness program that helps students of color enter the accounting profession, where they have been historically underrepresented.

  • NEWS HIGHLIGHTS FOR MONDAY - 5.16.16

    By:
    Maya Lindsay
    |
    May 16, 2016

    NYSSCPA Members in the News

    Jamie Block (Rochester)
    Long-term disability insurance
    WROC Rochester First
    CPA Jamie Block discussed the benefits of having long-term care disability insurance Monday on News 8 at Sunrise. Block said while other forms of insurance are required by law, such as car and homeowners insurance, long-term disability insurance is voluntary.

  • NEWS HIGHLIGHTS FOR FRIDAY - 5.13.16

    By:
    Maya Lindsay
    |
    May 13, 2016

    Accounting and Financial News Stories

    Jobs, Inflation, Wages: Good for the Economy, Bad for Stocks
    Wall Street Journal
    The Federal Reserve appears to finally be getting what it wants. The market might not be so happy about that. Steady job gains? Check. Rising wages? Positive signs are indeed emerging. A pickup in inflation? Pressure is mounting.

  • NEWS HIGHLIGHTS FOR WEDNESDAY - 5.11.16

    By:
    Maya Lindsay
    |
    May 11, 2016
    Accounting and Financial News

    FASB Tweaks Revenue Recognition Standard
    Accounting Today
    The Financial Accounting Standards Board has released a new accounting standards update providing “narrow-scope improvements and practical expedients” for the revenue recognition standard that it converged with the International Accounting Standards Board. The improvements stem from the work of a joint Transition Resource Group that FASB and the IASB established after they released the long-awaited standard in mid-2014.

  • NEWS HIGHLIGHTS FOR TUESDAY - 5.10.16

    By:
    Maya Lindsay
    |
    May 10, 2016
    Accounting and Finance News

    FAF Updates FASB and GASB Codification Print Editions
    Accounting Today
    The Financial Accounting Foundation has published updated print editions of the Financial Accounting Standards Board’s FASB Accounting Standards Codification and the Governmental Accounting Standards Board’s Codification of Governmental Accounting and Financial Reporting Standards. The FASB Codification provides an authoritative source of U.S. GAAP for public and private companies and not-for-profit organizations.

  • NEWS HIGHLIGHTS FOR MONDAY - 5.9.16

    By:
    Maya Lindsay
    |
    May 9, 2016

    NYSSCPA Members in the News

    Matt Bryant (Rochester)
    What to get the graduate: Financial gifts for the next step
    WROC Rochester News 8
    Allison Warren sat down and spoke with Matt Bryant, the President of the Rochester Chapter of the New York Society of Certified Public Accountants. Matt suggests that college graduates prepare to live off a budget and save for retirement. Some gifts to help with that include buying them stocks and investing in an IRA for them. Bryant says it's never to early to begin saving for the future.

  • Oil Investor Accused of $45 Million Worth of Tax Evasion

    By:
    Chris Gaetano
    |
    May 24, 2016
    A wealthy oil investor, Morris Zuckerman, has been accused of evading $45 million worth of taxes. 
  • IRS Head John Koskinen Won't Show Up to Impeachment Hearing, Sends Statement Instead

    By:
    Chris Gaetano
    |
    May 24, 2016
    IRS Commissioner John Koskinen will skip today's hearing before the House Judiciary Committee where lawmakers will lay out the case for impeaching him over failure to preserve documents related to the IRS tea party scandal.
  • On Smart Drugs and the Corporate Environment

    By:
    Chris Gaetano
    |
    May 23, 2016
    An article in the Harvard Business Review says that the use of cognitive enhancers like Ritalin, Adderall and Modafinil is on the rise in workplaces, leading to questions of how employers should react.