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2011: A Year We Won't Soon Forget

Mary-Jo Kranacher, MBA, CPA/CFF, CFE

This was the year that Uncle Sam nearly defaulted on its obligations, the U.S. government's credit rating experienced a historic downgrade, America's income gap grew, consumer confidence in our political and economic systems plummeted to an all-time low, and the national debt reached an all-time high. Yes, this was one heck of a year.

But some things haven't changed—after 81 years of publication, The CPA Journal continues to enjoy the respect of CPAs and other financial professionals for its in-depth analysis of emerging issues. But this is not a singular endeavor. The editors are grateful to the accounting and financial professionals who shared their expertise with our readers by authoring articles for publication in the Journal.


The CPA Journal is a submission-based, double-blind, peer-reviewed publication that is published monthly with special themes during the year on financial planning and a taxation update. The content and length of an article determine whether it will appear as an In Focus article, or in the Perspectives or Essentials sections. In Focus articles address areas of general interest and are often featured on the cover. Articles in the Essentials sections cover specific technical topics, while the Perspectives section includes news and opinion pieces on matters of importance to our readers.

The primary areas of interest covered in the Journal are accounting and auditing, taxation, finance, management, responsibilities and leadership, and technology. The editors attempt to balance practical information and conceptual analysis to provide readers with opportunities to enhance their understanding of key issues. We depend on a large group of individuals from a diverse cross section of the profession to assist us in providing the best material for our readers. These individuals may author or review manuscripts. When we ask a reviewer to evaluate a manuscript for possible publication, we use six criteria to ensure quality control: technical accuracy, readability, practicality, relevance of topic, timeliness, and comprehensiveness.

During tire Society's fiscal year between June 1, 2010, and May 31, 2011, the Journal received a total of 247 submissions, as compared to 272 during the previous year. Of those, 71 were accepted as is, 74 were accepted after revision (145 total), 57 were ultimately rejected, and 6 were withdrawn without a decision. Of the 117 submissions returned to authors for revision, 35 are still pending revision at this time. The comparable numbers for the previous year were: 139 accepted, 77 rejected, 117 returned to authors for revision, and 3 withdrawn. The average length of time a manuscript spent in the review process was 83 days (53 last year). The average article took approximately 47 days from acceptance to publication (82 last year). The acceptance rate before revision was 28.7% (25.0% last year), and the overall acceptance rate was 58.7% (51.1% last year). The overall acceptance rate for submissions from academics was 64.9%, and it was 39.3% for submissions from practitioners and other financial professionals. Academic authors were responsible for 67.6% of submissions accepted through the review process; nonacademic authors were responsible for 32.4% (71.2%/28.8% last year).


Every year at this time, we take this opportunity to thank everyone who has contributed to the Journal—by developing topics, soliciting authors, reviewing submissions, and participating in judging for the annual Max Block Distinguished Article Award program. The Editorial Board members, editors, and production staff are named each month on the masthead. The Editorial Board includes individuals who author and review submissions, solicit and develop submissions by others, and advise the editors as we continue to develop the mission and future direction of the magazine. In addition to those hard-working and dedicated individuals, the Journal has also benefited over the past year from the efforts of many members of the Editorial Review Board, upon whom the editors frequently rely for evaluating manuscripts, and ad hoc reviewers, experts who the editors occasionally ask to review individual manuscripts on a particular subject. The names of Editorial Review Board members and ad hoc reviewers who evaluated manuscripts over the past year are listed in the Perspectives section of this issue on page 11.

Finally, I would like to thank the members of the editorial and production staffs, who are instrumental in making The CPA Journal a quality publication. Without their dedication and hard work, this monthly endeavor would not be possible.

As always, we welcome your comments and suggestions, and encourage your support of The CPA Journal's mission for the profession.

Mary-Jo Kranacher, MBA, CPA/CFF, CFE. Editor-in-Chief. ACFE Endowed Professor of Fraud Examination, York College, The City University of New York (CUNY) mkranacher@nysscpa.org.

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