Latest Articles

  • Speakers: When It Comes to Disruptive Technologies, the Future Is Already Here

    By:
    Chris Gaetano
    |
    Nov 8, 2018
    While many CPAs are aware of the potential for disruptive technologies to seriously impact the accounting profession, the temptation is to think of them as far-off advances that will take a generation to fully infiltrate through the industry. Yet a pair of speakers at the Foundation for Accounting Education's Auditing Standards Conference today said that taking such a view is a mistake because many of these technologies are already in use. 
  • Speaker: 2018 Was Slower Year for PCAOB, But Expect Ramp-Up in 2019

    By:
    Chris Gaetano
    |
    Nov 8, 2018
    The Public Company Accounting Oversight Board (PCAOB) has been a little more quiet than usual this year, but don't expect that calm to last; a speaker at today's Auditing Standards Conference said that she expects the board to ramp up activity next year. 
  • New FASB Guidance Clarifies Some Transactions in Collaborative Arrangements Can Count as Revenue

    By:
    Chris Gaetano
    |
    Nov 6, 2018
    The Financial Accounting Standards Board (FASB) released new guidance saying that transactions in collaborative arrangements count as revenue, and therefore are under the purview of current revenue recognition standards, provided the the participant is a customer in the context of a unit of account. 
  • Tax Court Rejects Offer in Compromise on Wesley Snipes' $23.5 Million Debt

    By:
    Chris Gaetano
    |
    Nov 6, 2018
    A tax court rejected Hollywood actor Wesley Snipes' offer in compromise on $23.5 million in delinquent tax debt, where he offered to pay roughly 4 percent of the outstanding balance. 
  • Regulatory Roundup: Oct. 31 - Nov. 6

    By:
    Chris Gaetano
    |
    Nov 6, 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.

  • Fast Food Chains Increasingly Turning to Retirees Over Teens

    By:
    Chris Gaetano
    |
    Nov 5, 2018
    Fast food chains are increasingly staffed by retirees, as senior citizens accelerate their entry into minimum wage jobs, replacing the teens that once dominated such positions. 
  • Best Firms to Work for List Includes Three NY-based Firms

    By:
    Chris Gaetano
    |
    Nov 5, 2018
    A list of firms best loved by their employees compiled by Accounting Today includes three mid-sized New York-based CPA firms. 
  • Society Awards 2019: Call for Nominations

    By:
    Nereida Gomez
    |
    Nov 2, 2018
    Certified public accountants throughout New York state give generously of their free time to better their profession and to assist with community causes and projects in the public interest. The NYSSCPA recognizes these volunteer and professional commitments through an awards program designed to highlight outstanding service and to recognize professional development. Please consider nominating one or more Society members for an award.
  • SEC Enforcement Actions Increased to 821 in FY 2018

    By:
    Chris Gaetano
    |
    Nov 2, 2018
    The Securities and Exchange Commission's Division of Enforcement reported that FY 2018 brought 821 enforcement actions, an increase from last year's 754. 
  • Study Quantifies Trust as a Multibillion-Dollar Asset That Can Be Easily Lost

    By:
    Chris Gaetano
    |
    Nov 2, 2018
    Whether through a data breach, a regulatory embarrassment, a social media backlash or some other incident, companies are increasingly aware that losing the trust of their customers, and the public as a whole, can have expensive consequences, but consulting firm Accenture, in a recent report, says it is the first to quantify what those costs actually are.