• CPA Business Execs Slightly Less Optimistic on Economy

    By:
    Chris Gaetano
    |
    Jun 1, 2018
    Business executives who are also CPAs are slightly less optimistic about the economy than they were a few months ago, with opinions slipping on concerns about trade and political disruption. 
  • Study: The More Business Travel, the Worse Your Health

    By:
    Chris Gaetano
    |
    Jun 1, 2018
    If you ever suspected that business travel was literally killing you, a recent study has come out saying it's got proof: the more frequently people travel for business, the worse health they have. 
  • Fed Rolls Out Proposed Changes to Volcker Rule

    By:
    Chris Gaetano
    |
    May 31, 2018
    The Federal Reserve has proposed changes that would relax some of the requirements in the Volcker Rule, which Congress instituted in the wake of the financial crisis to prevent banks from engaging in proprietary trading and from owning or controlling hedge funds or private equity funds.
  • Lease Standards Still Challenging Companies: Poll Shows Only 44 Percent Have Even Begun Transition

    By:
    Chris Gaetano
    |
    May 31, 2018
    Despite having had two years to get ready, companies are still struggling to implement the Financial Accounting Standards Board's new lease standards that go into effect this year, with a recent survey showing only 44 percent of companies have even begun making the transition. 
  • Unusually Large Number of Companies Flubbing CEO Pay Disclosures, Revising Info

    By:
    Chris Gaetano
    |
    May 30, 2018
    At least 16 S&P 500 companies are revising their financial information to account for errors made in CEO pay disclosure, adjusting their totals up or down by millions of dollars. 
  • Report Finds More Than Half of Women Prefer Deferring to Spouse on Financial Decisions

    By:
    Chris Gaetano
    |
    May 30, 2018
    A recent report from UBS has found that 56 percent of married women would rather defer to their spouse when it comes to making financial decisions and investments. 
  • States Vow to Fight IRS Efforts to Nix State-Funded Charities as SALT Cap Fix

    By:
    Chris Gaetano
    |
    May 29, 2018
    The state governments of New York and New Jersey are responding negatively to a notice from the IRS strongly suggesting that it will not accept as valid charitable contributions made to state-run nonprofits as a way to mitigate the impact of the Tax Cuts and Jobs Act's state and local tax (SALT) deduction cap. 
  • PCAOB Director of Enforcement and Investigations, Claudius Modesti, Announces Plans to Leave

    By:
    Chris Gaetano
    |
    May 29, 2018
    Claudius Modesti, the Director of Enforcement and Investigations for the Public Company Accounting Oversight Board (PCAOB), will be leaving the organization after 14 years of service. 
  • Regulatory Roundup: May 23-29

    By:
    Chris Gaetano
    |
    May 29, 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.   
  • Study: Big Four Fees Grow with Tenure

    By:
    Chris Gaetano
    |
    May 24, 2018
    A recent study has found that audit fees from Big Four firms grow the longer they're with a client. 
  • Finance Professionals on Average Got 4.3 Percent Raise in 2017

    By:
    Chris Gaetano
    |
    May 24, 2018
    Finance professionals in general got an average raise of 4.3 percent last year, with chief financial officer pay increasing by 5.7 percent in the same period. 
  • IRS Warns of Scammers Posing as Accounting or Professional Organizations

    By:
    Ruth Singleton
    |
    May 24, 2018
    The IRS has issued an alert to tax professionals about phishing emails that appear to come from accounting or professional organizations. The scammers behind these emails targeted, in particular, tax practitioners in Iowa, Illinois, New Jersey and North Carolina.
  • PCAOB Chief Auditor Martin Baumann to Leave at End of Month

    By:
    Chris Gaetano
    |
    May 23, 2018
    The Public Company Accounting Oversight Board (PCAOB) has announced that its chief auditor for 12 years, Martin Baumann, will leave the organization at the end of this month. 
  • Dodd-Frank Rollback Clears Congress, Goes to President

    By:
    Chris Gaetano
    |
    May 23, 2018
    With a 258-159 vote in the House of Representatives last night, Congress passed a bill rolling back many of the protections installed by the Dodd-Frank Act in the immediate aftermath of the 2008 economic crisis; the bill now goes to the president's desk for final signature. 
  • IRS Strongly Suggests Against Donating to a State Nonprofit to Mitigate SALT Deduction Cap

    By:
    Chris Gaetano
    |
    May 23, 2018
    The IRS issued a notice saying it plans to release guidance soon in response to efforts by several state governments to mitigate the impact of the $10,000 limit on state and local tax deductions. While specific policies are not mentioned in the notice, it implies that the IRS will not look kindly upon, specifically, people donating to a state-run nonprofit to claim a charitable deduction on federal taxes. 
  • Speakers Talk About How to Boost Valuation with Intellectual Property

    By:
    Chris Gaetano
    |
    May 23, 2018

    As the global economy increasingly turns less on physical goods and more on intellectual property (IP), patents have become an efficient and effective way for a company to increase its valuation, especially when preparing for a sale, according to a pair of speakers at the Foundation for Accounting Education’s Business Valuation Conference on May 21. 

  • AICPA's Melancon Calls for a Radical Change to the Audit

    By:
    Chris Gaetano
    |
    May 22, 2018
    AICPA CEO Barry Melancon, during a speech at the institute's Governing Council spring meeting, called on audit industry leaders to embrace emerging technologies like blockchain and cognitive computing, saying that the profession needs an entirely new approach to audits. 
  • Regulatory Roundup: May 16-22

    By:
    Chris Gaetano
    |
    May 22, 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.  
  • NYS Proposes New Unincorporated Business Tax as Salve to SALT Cap

    By:
    Chris Gaetano
    |
    May 22, 2018
    The New York State Department of Taxation and Finance has released a discussion draft on a proposed unincorporated business tax (UBT) matched with a corresponding set of credits for members of partnerships doing business in New York, as part of the state's overarching response to the federal Tax Cuts and Jobs Act
  • Speakers: Cash Tough, but Not Impossible, to Track

    By:
    Chris Gaetano
    |
    May 22, 2018

    While the task of valuing a business is challenging enough on its own, it becomes even more difficult when that business deals mainly in cash. But a pair of speakers at the Foundation for Accounting Education’s Business Valuation Conference on May 21 walked their audience through the different ways professionals can adapt.  

     

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