2016 News Archive
 

< Return to List

Articles

Career Builders and Killers for CPA Firm Staff

I was recently asked by CPA Leadership Institute, one of the industry’s finest resources for cutting edge CPA practice management, to describe the most common career builders and career killers for staff professionals. Here was my response:...

Estate basis consistency reporting rules are proposed

Proposed and temporary regulations issued by the IRS on Wednesday govern the newly enacted provision that requires consistency between a recipient’s basis in certain property acquired from a decedent and the value of the property as finally...

CPA decision-makers turn negative about U.S. economy

Just 28% of CPA decision-makers in business and industry say they are optimistic about the U.S. economy for the next 12 months, and fewer than half are optimistic about their own companies. That combination has produced the lowest level of...

Financial Regulators Have Cyber on Their Minds

This year, expect regulators to hold financial-services companies accountable for their cybersecurity failings. Financial regulators, struggling to keep up with the onslaught of new threats to the public’s sensitive financial and personal...

Reaching a Consensus on Management Review Controls

Management review controls are often subjective, complex to analyze, and harder to audit than other kinds of financial information. Requirements from the Public Company Acccounting Oversight Board are causing auditors to require a level of...

FAF Trustees Announce New Appointment to FASB

On Tuesday, the FAF Trustees announced the appointment of Christine Ann Botosan to the FASB. Christine will replace Tom Linsmeier, who retires from the Board when his second and final term concludes on June 30, 2016. Christine currently serves as...

IRS Two Steps Closer to Regulating Tax Preparers

The IRS strategy to require independent, non-credentialed tax preparers took two steps forward in February. Both steps are designed to establish required education and licensing for the estimated 111,000 independent tax preparers in the US. The...

Is Your Accounting Firm's Partnership Model Broken?

At the recent CPA Practice Advisor Thought Leader Symposium, I mentioned during our annual round table discussion that the partnership model is probably one of the biggest sources of problems for CPA firms. The most tragic loss is one you might...

Economist Says Fear Of a U.S. Recession Is Overblown

Fears that the United States is on the brink of entering into an economic recession are unfounded, writes Provasi Capital Partners' Chief Global Strategist Rick Golod in his latest investment outlook. Golod cites several indicators that the U.S....

FASB ISSUES NEW GUIDANCE ON LEASE ACCOUNTING

Norwalk, CT, February 25, 2016—The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) intended to improve financial reporting about leasing transactions. The ASU affects all companies and other...