Latest Articles

  • Study: Moderate Scrutiny Most Likely to Produce Inflated Earnings Statements, Versus High or Low

    By:
    Chris Gaetano
    |
    Jun 7, 2018
    A recent study has found that there is a Goldilocks zone for earnings management risk, with executives most likely to overstate performance when there is a moderate amount of external scrutiny, versus high or low levels. 
  • Study Finds Lottery Winners More Satisfied with Life, But No Happier on Day-to-Day Basis

    By:
    Chris Gaetano
    |
    Jun 7, 2018
    A recent study published by the National Bureau of Economic Research found that people who win $100,000 or more in the lottery have sustained increases in life satisfaction lasting 10 years or more, but their day-to-day happiness levels remain largely unchanged. 
  • Speaker: Many Options Available for Pension Plans Looking to Lower Risk

    By:
    Chris Gaetano
    |
    Jun 7, 2018
    With defined benefit plans under increasing cost pressures, many companies have turned to a wide variety of strategies to reduce risk and gain a little more breathing room, according to a speaker at the Foundation for Accounting Education's Employee Benefits Conference today. 
  • Money Spent on Consultants Hits New Record, Buoyed by Tax Concerns, Tech Guidance

    By:
    Chris Gaetano
    |
    Jun 6, 2018
    Americans spent a record amount on consultants last year, $63.2 billion, a spike attributed to companies being increasingly concerned about navigating the new tax law and technological changes in the economy. 
  • Economists Predict Recession in 2020

    By:
    Chris Gaetano
    |
    Jun 6, 2018
    Economic forecasts predict that the next recession will happen in the year 2020. 
  • Society Helps Resolve Refund Notice Mix-Up at NYS Dept. of Taxation

    By:
    Chris Gaetano
    |
    Jun 5, 2018

    The NYSSCPA, through its New York, Multistate and Local Taxation Committee, has helped resolve an issue involving taxpayers who received notices saying that their New York state tax refunds had been adjusted, without an explanation. The problem stemmed primarily from a processing issue at the New York State Department of Taxation and Finance (NYSDTF), whereby taxpayers received inquiry letter after they received adjustment letters. It will be resolved through a reversal of the timing of the letters, along with better communication.

  • Study: Pay Disputes More Common in Finance and Insurance Industries

    By:
    Chris Gaetano
    |
    Jun 5, 2018
    When it comes to pay disputes with workers, such as failing to pay employees for overtime or expecting them to do tasks off clock, finance and insurance companies make up half of the top 12 payers of settlements and fines over such matters. 
  • IRS Gets Specific on What It Will Need for TCJA Implementation

    By:
    Chris Gaetano
    |
    Jun 5, 2018
    The IRS will need nearly $300 million to implement the Tax Cuts and Jobs Act, and it recently outlined specifically what steps it would need to take to do so. 
  • Regulatory Roundup: May 30-June 5

    By:
    Chris Gaetano
    |
    Jun 5, 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 ‚Äč‚Äčannouncements from the past week, and puts them in one place to help you stay on top of the issues.    
  • Finance Departments Preparing for Large-Scale Automation

    By:
    Chris Gaetano
    |
    Jun 4, 2018
    Companies are increasingly turning to software to automate tasks that were once done by people: 41 percent of finance executives in the U.S. and Europe say that their firms have an enterprise-wide automation strategy in place, with finance departments, not IT, generally leading the way.