Latest Articles

  • Elon Musk Admits No One Reviewed Tweet on Taking Tesla Private

    By:
    Chris Gaetano
    |
    Aug 17, 2018
    Tesla CEO Elon Musk, in an interview with the New York Times, said that no one had seen or reviewed his bombshell tweet about taking the company private, which blindsided both regulators and his own board members. 
  • Trump Directs SEC to Study Possibility of Ditching Quarterly Reports

    By:
    Chris Gaetano
    |
    Aug 17, 2018
    President Trump today said he has directed the Securities and Exchange Commission to consider ditching the quarterly reports. 
  • SEC Subpoenas Tesla Over Musk Tweets

    By:
    Chris Gaetano
    |
    Aug 16, 2018
    The Securities and Exchange Commission has subpoenaed Tesla in connection with recent social media posts by its CEO Elon Musk, indicating that it has launched a formal investigation of the company. 
  • FASB Releases New Standard for Long-Term Insurance Contracts

    By:
    Chris Gaetano
    |
    Aug 16, 2018
    The Financial Accounting Standards Board (FASB) has released an accounting standards update (ASU) for insurance companies that issue long-duration contracts, such as life insurance, disability income, long-term care and annuities.
  • Defined Benefit Plans Find New Life as Tool for Barred Professionals to Qualify for 20 Percent Pass-Through Deduction

    By:
    Chris Gaetano
    |
    Aug 15, 2018
    The 20 percent deduction for pass-through business entities contained in the Tax Cuts and Jobs Act specifically excludes those working in law, architecture, engineering, insurance, financial services, consulting, health, and other professional services. But, according to Bloomberg, some in these fields have found a way to use defined benefit plans to get around the measure's restrictions. 
  • Survey of 42,764 Office Workers Finds Everyone Wants an Office

    By:
    Chris Gaetano
    |
    Aug 15, 2018
    A survey of 42,764 office workers on what kind of workspace would make them the most happy and productive has found that pretty much everyone wants an enclosed, private space, aka an office with a door. 
  • FASB Proposes Tweaks to Lease Standard for Lessors

    By:
    Chris Gaetano
    |
    Aug 14, 2018
    The Financial Accounting Standards Board (FASB) has released proposed guidance aimed primarily at lessors, intended to make implementing the new lease standard easier and less expensive. 
  • Federal Reserve Says 2008 Crash Cost Average American $70,000 in Lifetime Income

    By:
    Chris Gaetano
    |
    Aug 14, 2018
    The Federal Reserve Bank of San Francisco said that the country has still not fully recovered from the 2008 crash, and the size of the resulting losses suggests that the level of output is unlikely to revert to its pre-crisis trend level, which means that Americans will make, on average, $70,000 less over the course of their lifetimes. 
  • Regulatory Roundup: Aug. 8-14

    By:
    Chris Gaetano
    |
    Aug 14, 2018

    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA’s regular series that collects relevant regulatory announcements from the past week, and puts them in one place to help you stay on top of the issues.

  • PCAOB's Proposed Five-Year Strategic Plan Includes Audit Quality Indicators, Transparency, Assessing Tech Disruption

    By:
    Chris Gaetano
    |
    Aug 13, 2018
    The Public Company Accounting Oversight Board (PCAOB) has released a proposed new five-year strategic plan that includes going forward with researching audit quality indicators, becoming more transparent, and assessing the impact of disruptive technology.