Sustainability and Goodwill from a Student's Perspective - The CPA Journal
Note from Column Editor Tracey J. Niemotko: Jack Woods is currently a senior at Marist University, pursuing a bachelor's degree in professional| The CPA Journal
May/June 2025 | The CPA Journal
The accounting profession stands at an inflection point. We’re facing both a generational pipeline crisis and an accelerating wave of technological disruption. Emerging technologies—artificial intelligence (AI) in particular—has captured the profession’s attention, for good reason. While some headlines predict AI will render traditional accounting roles obsolete, the reality is far more nuanced, and far more […] The post Meeting the Moment appeared first on The CPA Journal.| The CPA Journal
There has been growing pressure—from investors, from the Financial Stability Board (FSB), and from the International Organization of Securities Commissions (IOSCO)—for companies to disclose their greenhouse gas (GHG) emissions. Many stakeholders were awaiting the issuance of standardized climate disclosure rules from the U.S. Securities and Exchange Commission (SEC). In the meantime, California enacted the first […] The post California Provides a Welcoming Environment for the Evolution ...| The CPA Journal
In Brief Over the years, numerous studies have revealed racial disparities in hiring practices, specifically detailing the favoring of White over Black applicants by employers. By conducting a blind study of callbacks for eight fictitious applicants of various races, genders, and resume qualities, a recent study found that although White applicants still held a significant […] The post Diversity, Equity, and Inclusion Hiring in Public Accounting appeared first on The CPA Journal.| The CPA Journal
While NASBA and the AICPA have long supported the 150-hour pathway to CPA licensure, opinions differ as to whether the 30 credits beyond the bachelor’s degree produce more qualified professionals. The 150-hour requirement has been widely credited with creating a barrier to entry for minority candidates. The past few years have seen increasing debate among […] The post ICYMI | NASBA and the AICPA Propose an Alternative Path to CPA appeared first on The CPA Journal.| The CPA Journal
The accounting profession is facing a severe crisis due to a shortage of accountants. Significantly fewer students have selected accounting as a major. As a direct result of enrollment declines in accounting programs, candidates sitting for the CPA exam have also decreased from 48,004 first-time candidates in 2016 to 32,188 in 2021, a drop of […] The post ICYMI | The Accounting Profession Is in Crisis appeared first on The CPA Journal.| The CPA Journal
In Brief The Boeing case is a cautionary tale of what can go wrong when a company fails to develop and implement sound internal quality controls that protect operational processes and encourage a culture of safety. At Boeing, whistleblowers reported problems with operating processes that were ignored by management and weren’t always reported to the […] The post The Story of Boeing’s Failed Corporate Culture appeared first on The CPA Journal.| The CPA Journal
In Brief Operational controls and their impact on the financial statements represent a significant challenge for management accountants. The authors present a case study of an industrial manufacturer and its external auditors. They describe the company’s five “gateways” of inventory control and their critical importance to materials management and the annual inventory check. * * […] The post The Five Gateways of Inventory Control appeared first on The CPA Journal.| The CPA Journal
Note from Column Editor Tracey J. Niemotko: Jack Woods is currently a senior at Marist University, pursuing a bachelor's degree in professional| The CPA Journal
Featured | The CPA Journal
The recent U.S. inflation measures show that high prices have not departed yet—and they continue to fuel an affordability crisis in critical sectors like healthcare, housing, food, and education. For nonprofits delivering vital services to struggling individuals, families, and communities this economic reality pushes them into a financial vise of higher operating costs and decreased […] The post How Nonprofits Can Adapt Their Operational and Financial Strategies in Today’s Economic Envi...| The CPA Journal
Audit and tax firms have long understood that the traditional services for which they are being engaged (e.g., conducting an independent audit, preparing and filing of a Form 990, or providing agreed upon procedures) are dependent on the skills, knowledge, and expertise of the internal finance teams of their clients. Many organizations may not have […] The post The Benefits of a CAS Practice Specializing in Not-for-Profit Organizations appeared first on The CPA Journal.| The CPA Journal
Amid the flurry of proposed rulemakings that were published in the month prior to President Trump's inauguration, the Treasury Department published the| The CPA Journal
While the audit process generally has an overwhelming connotation, there are several steps that a not-for-profit (NFP) organization can take to make the audit process much smoother year over year. This article will review what happens in the external audit: how NFPs can plan, document, and prepare for the audit, and what steps NFPs can […] The post Tips for a Smooth Nonprofit Audit Process appeared first on The CPA Journal.| The CPA Journal
Amid the flurry of proposed rulemakings that were published in the month prior to President Trump’s inauguration, the Treasury Department published the long-awaited proposed amendments to 31 CFR Part 10, better known as Circular 230. Broadly speaking, Circular 230 is the document that sets forth the standards for professionals who practice before the IRS. While […] The post Treasury Issues Proposed Regulations Amending Circular 230 appeared first on The CPA Journal.| The CPA Journal
CPA firms are constantly confronted by regulatory, compliance, and ethics issues in the face of an unpredictable and changing world. Hot topics like environmental, social, and governance (ESG) reporting mandates, accounting standards for digital assets, lease accounting complications under ASC 842, and most notably the Corporate Transparency Act (CTA), illustrate the breadth of challenges that […] The post Applying Problem Solving Tools to Ethical Conundrums appeared first on The CPA Journal.| The CPA Journal
In Brief Over the years, numerous studies have revealed racial disparities in hiring practices, specifically detailing the favoring of White over Black| The CPA Journal
Decentralized finance (DeFi) is an emerging peer-to-peer system for conducting financial activity on the blockchain without the need for third-party intermediaries or financial institutions. Although still in its infancy, DeFi activity has increased exponentially over the past few years. Unlike centralized exchanges, such as Binance and Coinbase, DeFi protocols are typically barebones, if not entirely […] The post Demystifying ‘DeFi’ appeared first on The CPA Journal.| The CPA Journal
In Brief The Boeing case is a cautionary tale of what can go wrong when a company fails to develop and implement sound internal quality controls that| The CPA Journal
One hundred years ago, an enterprising, bright, savvy, but uneducated young Polish immigrant started a modest business that would eventually grow to| The CPA Journal
In Brief The Boeing case is a cautionary tale of what can go wrong when a company fails to develop and implement sound internal quality controls that| The CPA Journal
Many CPAs who represent notfor-profit clients and serve on not-for-profit boards may be interested in a web page created by the National Council of Nonprofits, “The Impact of Recent Executive Orders on Nonprofits” (https://tinyurl.com/3spze3t8). This collection of resources includes a chart of the most relevant executive orders, checklists for conducting a risk assessment for federal […] The post Nonprofit Accounting Resources appeared first on The CPA Journal.| The CPA Journal
In Brief The Boeing case is a cautionary tale of what can go wrong when a company fails to develop and implement sound internal quality controls that| The CPA Journal
Featured | The CPA Journal
Over the past few years, a consensus has emerged that the accounting field is facing a significant talent pipeline challenge and action is needed to| The CPA Journal
Featured | The CPA Journal
Audit and tax firms have long understood that the traditional services for which they are being engaged (e.g., conducting an independent audit, preparing and filing of a Form 990, or providing agreed upon procedures) are dependent on the skills, knowledge, and expertise of the internal finance teams of their clients. Many organizations may not have […] The post The Benefits of a CAS Practice Specializing in Not-for-Profit Organizations appeared first on The CPA Journal.| The CPA Journal
Many corporate executives continually question and analyze their business practices to achieve their goals more effectively and efficiently. Not surprisingly, cybersecurity remains an item of concern. Most executives recognize that extensive investments for managing cyber risks must continue, but wonder if opportunities for efficiencies can coexist with the need to maintain tolerable risk management levels. […] The post Metrics or Maturities appeared first on The CPA Journal.| The CPA Journal
A company’s long-term liabilities, such as bonds payable and finance leases, arise from its future cash flow obligations. These liabilities are often initially recognized on the date that the contracts are signed or the cash flows are committed. Under certain circumstances, however, companies may need to adjust the start dates in response to the nature […] The post Accounting for Liabilities Arising Between Cash Flow Dates appeared first on The CPA Journal.| The CPA Journal
Decentralized finance (DeFi) is an emerging peer-to-peer system for conducting financial activity on the blockchain without the need for third-party intermediaries or financial institutions. Although still in its infancy, DeFi activity has increased exponentially over the past few years. Unlike centralized exchanges, such as Binance and Coinbase, DeFi protocols are typically barebones, if not entirely […] The post Demystifying ‘DeFi’ appeared first on The CPA Journal.| The CPA Journal
Note from Column Editor Tracey J. Niemotko: Jack Woods is currently a senior at Marist University, pursuing a bachelor’s degree in professional accountancy. He is the founder and president of the Accounting Club, which established the first student chapter of the NYCPA and a student chapter of the ACFE. He also serves as the student […] The post Sustainability and Goodwill from a Student’s Perspective appeared first on The CPA Journal.| The CPA Journal
In Brief The recent surge in inflation has led managers to reassess the best inventory valuation methods—first-in-first-out (FIFO) or last-in-first-out (LIFO). In times of rising prices, FIFO typically results in higher earnings, while LIFO can reduce tax liabilities. This article explores the advantages and disadvantages of each method, providing accountants with the insights needed to […] The post LIFO or FIFO During Inflationary Times? appeared first on The CPA Journal.| The CPA Journal
While the audit process generally has an overwhelming connotation, there are several steps that a not-for-profit (NFP) organization can take to make the audit process much smoother year over year. This article will review what happens in the external audit: how NFPs can plan, document, and prepare for the audit, and what steps NFPs can […] The post Tips for a Smooth Nonprofit Audit Process appeared first on The CPA Journal.| The CPA Journal
On April 22, 2024, the Office of Management and Budget (OMB) released significant revisions to Title 2 of the Code of Federal Regulations (CFR), including 2 CFR Part 200 (the Uniform Guidance). These updates represent the most substantial changes to the Uniform Guidance (UG) in recent years. They are aimed at streamlining oversight, enhancing consistency, […] The post Navigating Uniform Guidance Compliance appeared first on The CPA Journal.| The CPA Journal
CPAs need to be aware of current tax developments in key states to properly advise taxpayers doing business in multiple jurisdictions. It is crucial to regularly monitor developments in surrounding jurisdictions. This article will address some key developments in Massachusetts and New Jersey. Massachusetts—Amendments Clarify Single Sales Factor Enactment, Married Filer Exemptions On January 3, […] The post State Tax Updates in Key Jurisdictions appeared first on The CPA Journal.| The CPA Journal
In Brief Operational controls and their impact on the financial statements represent a significant challenge for management accountants. The authors present a case study of an industrial manufacturer and its external auditors. They describe the company’s five “gateways” of inventory control and their critical importance to materials management and the annual inventory check. * * […] The post The Five Gateways of Inventory Control appeared first on The CPA Journal.| The CPA Journal
CPA firms are constantly confronted by regulatory, compliance, and ethics issues in the face of an unpredictable and changing world. Hot topics like environmental, social, and governance (ESG) reporting mandates, accounting standards for digital assets, lease accounting complications under ASC 842, and most notably the Corporate Transparency Act (CTA), illustrate the breadth of challenges that […] The post Applying Problem Solving Tools to Ethical Conundrums appeared first on The CPA Journal.| The CPA Journal
Certain accounting standards are specific to donations, contributions, and grants from governments and foundations and are uniquely applicable to not-for-profit organizations. Nonprofits do not exist to generate profit for their owners; they exist for the purpose of fulfilling a social mission. While they are not profit-oriented, they do need to generate sufficient revenue to cover […] The post Misconceptions in Not-For-Profit Accounting appeared first on The CPA Journal.| The CPA Journal
CPA firms can utilize the many excellent tools and services available to create a strong online presence, such as professional website design and| The CPA Journal
In-depth insight and analysis from the accounting and financial world, providing professionals news and information needed to succeed.| The CPA Journal
In Brief The history of modern auditing coincides conveniently with the history of The CPA Journal. The 1930s not only saw the NYSSCPA begin publication| The CPA Journal
In Brief The proliferation of technology throughout modern business has created novel opportunities for financial statement fraud. But technology tools| The CPA Journal
The accounting profession is facing a severe crisis due to a shortage of accountants. Significantly fewer students have selected accounting as a major. As| The CPA Journal
