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As Sustainability Factors Become Mainstream Investment Strategies, Companies Take Notice

Read the January/February 2020 Issue (pdf)

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No Change to Ethics CPE in January 2020

In Face of Recession Risk, CPAs Say, ‘Don’t Panic’

New Tax Commissioner Reveals His Priorities

Latest Articles

NYC to Ease Up on Fines for Small Businesses

By:

Chris Gaetano
|
Feb 21, 2020

The New York City government plans to go easier on small businesses through eliminating fines for many first-time violations, and expanding the number of violations with "cure" periods allowing the businesses to fix problems without getting penalties.
Wells Fargo Nears Final Settlement for Scandals Involving Banking, Auto Loans and Mortgages

By:

Chris Gaetano
|
Feb 21, 2020

Banking giant Wells Fargo is close to entering a settlement with the U.S. Justice Department and Securities and Exchange Commission over a widespread fraud on its customers on several fronts, including sham bank accounts, forced auto insurance and surprise mortgage adjustments.
IRS Provides Guidance, Safe Harbor, on Carbon Capture Credits

By:

Chris Gaetano
|
Feb 20, 2020

The IRS has provided clarifying guidance and a safe harbor for the carbon capture credits passed into law in 2018 in lieu of separate private letter rulings.
SEC and PCAOB, Mulling Impact of Coronavirus, Consider Deadline Relief in Specific Circumstances

By:

Chris Gaetano
|
Feb 20, 2020

The Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) urged firms to coordinate with their audit committees on the material impacts of the coronavirus epidemic, and said that, in circumstances beyond the control of the issuer, they would be willing to grant "appropriate" relief from filing deadlines.
Study Finds Balance Sheet Liabilities Jumped 1,475 Percent When Lease Standard Went Into Effect

By:

Chris Gaetano
|
Feb 19, 2020

A recent study has found that the average company saw a major increase in balance sheet liabilities when the new lease standard went into effect. Average balance sheet liabilities jumped by 1,475 percent.
Accounting Change Juices Argentina's Balance Sheet From Negative $2 Billion to Positive $35 Billion

By:

Chris Gaetano
|
Feb 19, 2020

Argentina, through a change in how it values certain government bonds, has changed its balance sheet from negative $2 billion to positive $33 billion, a move that has been received with some skepticism by the international finance community.
Regulatory Roundup - February 11-18

By:

Chris Gaetano
|
Feb 18, 2020

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.
Study Finds Strong Language in Investor Calls Linked to Stock Price Improvement

By:

Chris Gaetano
|
Feb 18, 2020

A recent study looking at transcripts of 60,094 earnings calls has found that when managers use strongly positive words like "terrific," "excellence," "incredible," or "amazing," stock prices go up slightly.
IRS Reports Nearly Two Dozen Acts of Data Theft on Practitioners This Year

By:

Chris Gaetano
|
Feb 18, 2020

Just 19 days into the tax season, the IRS was already reporting that two dozen practitioners had been the victims of data theft.
IRS No Longer Counting In-Game Cash as Cryptocurrency, Admits Error

By:

Chris Gaetano
|
Feb 14, 2020

The IRS has admitted it erred when counting certain in-game currencies like Fortnite's V-bucks as cryptocurrencies akin to Bitcoin.

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Latest Articles

NYC to Ease Up on Fines for Small Businesses

Wells Fargo Nears Final Settlement for Scandals Involving Banking, Auto Loans and Mortgages

IRS Provides Guidance, Safe Harbor, on Carbon Capture Credits

SEC and PCAOB, Mulling Impact of Coronavirus, Consider Deadline Relief in Specific Circumstances

Study Finds Balance Sheet Liabilities Jumped 1,475 Percent When Lease Standard Went Into Effect

Accounting Change Juices Argentina's Balance Sheet From Negative $2 Billion to Positive $35 Billion

Regulatory Roundup - February 11-18

Study Finds Strong Language in Investor Calls Linked to Stock Price Improvement

IRS Reports Nearly Two Dozen Acts of Data Theft on Practitioners This Year

IRS No Longer Counting In-Game Cash as Cryptocurrency, Admits Error

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