Latest Articles

  • Company Asks Media to Use Non-GAAP Metric After SEC Ordered It Excluded From Financial Report

    By:
    Chris Gaetano
    |
    Aug 9, 2017
    Video game company Activision Blizzard―known for hit titles like World of Warcraft, Starcraft and Overwatch―has been asking the media to report non-GAAP metrics that the SEC told them to stop using in their financial reports. 
  • The Opposite of 'Accountants and Auditors' is 'Agricultural Graders'

    By:
    Chris Gaetano
    |
    Aug 9, 2017

    Using data from the U.S. Department of Labor, the New York Times broke every profession down into their required skills, and then used those points to determine what the opposite of each profession would be. In the case of accountants and auditors, the result was agricultural graders. 

  • State Education Department Proposes Changes to Annual Professional Ethics CPE Requirement

    By:
    Ruth Singleton
    |
    Aug 8, 2017
    Beginning in 2018, New York-licensed CPAs will be required to earn six CPE credits in ethics every three years, up from the current four-credit requirement, if the New York State Board of Regents approves the measure this fall.
  • State Tax Department Simplifies Power of Attorney Form, Process Issues

    By:
    New York State Department of Taxation and Finance
    |
    Aug 8, 2017
    Based on feedback from tax professionals and taxpayers, the New York State Department of Taxation and Finance recently revised Form POA-1, Power of Attorney, and implemented a power of attorney (POA) web application to make it easy to file. The changes are part of the department’s ongoing effort to make its forms more user-friendly and to enhance its operational efficiency.
  • Americans' Credit Card Debt Tops $1 Trillion

    By:
    Chris Gaetano
    |
    Aug 8, 2017
    A recent report from the U.S. Federal Reserve has found that American credit card debt is higher than it's ever been before, with people collectively owing $1.021 trillion, and there's no sign it won't climb higher. 
  • NYC Mayor Proposes Tax Increase to Fund Subway Repairs

    By:
    Chris Gaetano
    |
    Aug 8, 2017
    NYC Mayor Bill de Blasio said that the city could raise taxes on the rich in order to fund repairs and improvements to the ailing public transit system. 
  • Regulatory Roundup: Aug. 2-8

    By:
    Chris Gaetano
    |
    Aug 8, 2017
    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.
  • Banks Pocketed $15 Billion in Overdraft Fees Last Year

    By:
    Chris Gaetano
    |
    Aug 7, 2017
    A recent report from the Consumer Financial Protection Bureau said that penalties from overdraft fees gave banks $15 billion last year. 
  • Regulatory Penalties Down Two-Thirds Compared with Last Year

    By:
    Chris Gaetano
    |
    Aug 7, 2017
    Securities and Exchange Commission, the Commodity Futures Trading Commission and the Financial Industry Regulatory Authority in the first half of 2017 were down nearly two-thirds compared with the first half of 2016. 
  • PCAOB Slaps PricewaterhouseCoopers with $1 Million Fine

    By:
    Chris Gaetano
    |
    Aug 4, 2017
    The Public Company Accounting Oversight Board (PCAOB) imposed a $1 million penalty against PricewaterhouseCoopers over issues in its audit of Merrill Lynch's compliance with SEC rules.