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Opening Remarks: Aiming Toward the Future
About the Speakers Wesley Bricker serves as the chief accountant for the SEC’s Office of the Chief Accountant (OCA). (Editor’s note: Bricker left the SEC in June 2019 after this speech was given.) The...
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Opening Remarks: The Road to Better Financial Reporting
About the Speakers Wesley Bricker serves as the chief accountant for the SEC’s Office of the Chief Accountant (OCA). (Editor’s note: Bricker left the SEC in June 2019 after this speech was given.) The...
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Monitoring Risk in Financial Reporting
The 18th Annual Financial Reporting Conference, hosted by Baruch College this past May 2, once again brought together regulators, standards setters, preparers, auditors, and users to discuss current...
View ArticleSend in the Clouds
The origins of cloud computing go back more than 20 years, with the first reference appearing in a 1996 internal Compaq document (Antonio Regalado, “Who Coined ‘Cloud Computing?’,” MIT Technology...
View ArticleThe Challenge of Embedded Leases
As companies face the significant challenges in adopting Accounting Standards Codification (ASC) Topic 842, “Leases,” little has been written about the challenge posed by the requirement to evaluate...
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The Statement of Cash Flows Turns 30
This past year marked the 30th anniversary of the statement of cash flows as a required financial statement. FASB’s efforts in developing the then-new standard were heavily influenced by the...
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Current Developments at the SEC
About the Panelists Wesley Bricker, chief accountant at the SEC’s Office of the Chief Accountant; Kyle Moffatt, chief accountant at the SEC’s Division of Corporation Finance; and Matt Jacques, chief...
View ArticleTop Ten Changes in the Taxpayer First Act of 2019
On July 1, 2019, President Trump signed into law the Taxpayer First Act of 2019 (TFA), enacting changes to the IRS’s organizational structure, customer service, enforcement procedures, management of...
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Hedges of Recognized Foreign Currency–Denominated Assets and Liabilities
Accounting Standards Update 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,modifies the accounting and reporting of foreign currency forward...
View ArticleThe Challenges in Proving a Medical Exception
Estates can be in shambles for years over medical bills, especially when the bills start to surpass an average yearly household income and coverage requires proving an exception to standard...
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Implementing Standards: How Do Preparers Cope?
About the Panelists Prabhakar Kalavacherla, a partner in the audit quality and professional practice group at KPMG; Mark LaMonte, former managing director at Moody’s Investors Service; Sarah...
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Current Developments in the Private Sector
About the Panelists Susan Cosper, technical director at FASB and recently appointed to be a member of the board; Robert Laux, region lead for North America at the International Integrated Reporting...
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Cybersecurity Tools for CPAs
Sometimes the highest and best value that CPAs can provide to their clients and employers is to prevent problems from occurring or to recognize events that could have a negative impact. Accountants do...
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Cybersecurity: Where Are We, and What More Can Be Done?
Our mission at the PCAOB calls on us to protect investors and the public interest by overseeing one particular aspect of the financial reporting ecosystem: the preparation of informative, accurate,...
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The Real Estate Trade or Business Exception from IRC Section 163(j)
The scope of the exception for taxpayers engaged in a real estate trade or business from the harsh consequences of Internal Revenue Code (IRC) section 163(j) remains uncertain, even in the aftermath...
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Oregon’s New Commercial Activity Tax
CPAs need to be aware of current developments in key states in order to properly advise their clients that engage in business in multiple jurisdictions. This article will provide an overview of the...
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More on Whistleblower Protections
We enjoyed reading Catherine R. Allen and David M. Nair’s article in the March 2019 The CPA Journal, “Disclosure of Noncompliance with Laws and Regulations: What Whistleblower Protections Exist for...
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Financial Instruments
About the Panelists Robert Uhl, partner at Deloitte & Touche LLP; Scott Taub, managing director at Financial Reporting Advisors LLC; Mark LaMonte, former managing director at Moody’s Investors...
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Fraud ‘Possibilities’ Are Realities
I particularly enjoyed Mark Nickerson’s article on fraud possibilities in your annual technology issue (“Fraud in a World of Advanced Technologies,” June 2019, http://bit.ly/2LJedBZ). I wager he’s...
View ArticleTax & Accounting Update
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is a quick-reference guide to the most...
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Forté Capital’s Selected Statistics
ISM Manufacturing Index The manufacturing sector is slowing, especially the export sectors. According to the ISM survey of purchasing managers, there is concern over the effect of trade talks and...
View ArticleICYMI | The Challenge of Embedded Leases
As companies face the significant challenges in adopting Accounting Standards Codification (ASC) Topic 842, “Leases,” little has been written about the challenge posed by the requirement to evaluate...
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ICYMI | The Statement of Cash Flows Turns 30
This past year marked the 30th anniversary of the statement of cash flows as a required financial statement. FASB’s efforts in developing the then-new standard were heavily influenced by the...
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