Latest Articles

  • FASB Expands Private Company Relief for Variable Interest Entity Guidance

    By:
    Chris Gaetano
    |
    Nov 1, 2018
    The Financial Accounting Standards Board (FASB) has released new guidance that offers private company alternatives to using guidance concerning variable interest entities under common control. 
  • Martin Baumann, Former PCAOB Chief Auditor, Will Not Chair IAASB After All

    By:
    Chris Gaetano
    |
    Oct 31, 2018
    Martin Baumann, the former PCAOB chief auditor, who was slated to chair the  International Auditing and Assurance Standards Board, has decided not to assume the position, citing personal reasons. 
  • Study: 150-Hour Rule Did Not Improve Quality of CPAs

    By:
    Chris Gaetano
    |
    Oct 31, 2018
    A study from the University of Chicago's Booth School of Business asserts that since the 150-semester-hour requirement for licensure went into effect in all 54 jurisdictions, there has been no real improvement in the quality of CPAs compared to those who were certified before the rule went into effect. 
  • Cannabis Conference to Demonstrate that Industry Is Serious Business

    By:
    Chris Gaetano, Zach Simeone and Ruth Singleton
    |
    Oct 30, 2018

    Zachary Gordon, chair of the NYSSCPA’s Cannabis Industry Committee, would like you to discard the tired jokes and stereotypes. With the majority of U.S. states having at least some degree of legalization, ranging from medical to recreational, cannabis is a rapidly maturing industry that presents lucrative opportunities for business professionals of all stripes. The prospect of a recreational cannabis program in New York is one of the reasons why Gordon’s committee is organizing a Cannabis Conference on Dec. 11, which will explore these opportunities in depth.

  • Treasury Department Expects to Add More than $1 Trillion in New Debt This Year

    By:
    Chris Gaetano
    |
    Oct 30, 2018
    The Treasury Department announced that, in the fourth quarter of 2018, it expects that its debt issuance will reach a total of $1.338 trillion, more than twice last year's total debt issuance of $546 billion. 
  • CPA Firms Increasingly Heeding Calls for Flexible Work Policies

    By:
    Chris Gaetano
    |
    Oct 30, 2018
    When it comes to what people want in an employer these days, more workers have been longing for a flexible work schedule. A recent survey of 175 CPA firms across the country indicates that the profession is starting to take note, as nearly all firms now offer some form of flexible work options. 
  • Regulatory Roundup: Oct. 24-30

    By:
    Chris Gaetano
    |
    Oct 30, 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.

  • JPMorgan Chase to Expand into More States After Lifting of Once-Secret Punishment from Obama-Era Regulators

    By:
    Chris Gaetano
    |
    Oct 29, 2018
    JPMorgan Chase, the biggest bank in the country by assets, has been let loose from shackles that, until recently, most Americans had not even known existed: For violating banking rules, Obama-era regulators had specifically barred the financial institution from opening branches in new states. 
  • Price Pressures Leading Consumers to Keep Phones, Stay in Homes, Longer

    By:
    Chris Gaetano
    |
    Oct 29, 2018
    Americans are waiting longer than before both to sell their homes and to upgrade their smartphones, a consequence of price pressures in both sectors. 
  • FASB Introduces New Hedge Accounting Interest Rate

    By:
    Ruth Singleton
    |
    Oct 26, 2018
    The Financial Accounting Standards Board (FASB) has added an “Overnight Index Swap” rate, based on “a broad Treasury repurchase agreement financing rate referred to as the Secured Overnight Financing Rate (SOFR),” to the list of benchmark interest rates allowed for hedge accounting.