Financial statement fraud is often thought of as an “inside job,” something perpetrated by the management or employees of the organization being audited. Occasionally, however, fraud is perpetrated by ...

Should CPA students no longer have to learn the basics of government accounting? According to a new AICPA exposure draft, Maintaining the Relevance of the Uniform CPA Examination, “Given the ...

This month’s column highlights the principal effects of FASB’s Accounting Standards Update (ASU) 2015-11, Simplifying the Measurement of Inventory. While the standard’s primary impact has been felt by ...

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 ...

Estimating the fair value of a nonmarketable financial instrument, or one that is restricted from sale, is conceptually challenging. Even though it could take significant time and effort to transact ...

The securitization of trade receivables is a multibillion-dollar sector, and it is growing. It is vitally important that U.S. GAAP correctly reflect the economics of these transactions. This article ...

On June 26, 2023, the International Sustainability Standards Board (ISSB), an International Financial Reporting Standards (IFRS) Foundation initiative, released IFRS S1, General Requirements for ...

Contrary to what many think, the typical audits of financial statements do entail certain responsibility for the detection of fraud. The author examines the differences between the conventional audit ...

Not-for-profit organizations rely on a strong financial infrastructure in order to support their ongoing operations, ensure ...

THE CPA JOURNAL EDITORIAL REVIEW BOARD David M. Barral Stewart Berger Warren Bergstein Robbie Bishop-Monroe William Bregman Rumbi Bwerinofa-Petrozzello John Castonguay Timothy Coville Stephen Ehrlich ...

For decades, the accounting talent shortage in the United States has been a serious concern for academicians, policymakers, and the profession. One solution to what has been termed the pipeline ...

Over the last several years, private equity (PE)-backed companies have become increasingly active within the accounting field. Many CPA firm partners and leaders have received calls from interested PE ...