The CPA Journal

The CPA Journal is a monthly refereed accounting journal. It has been published by the New York State Society of CPAs since 1930.Subjects for The CPA Journal inlcude accountants and accounting. Carolyn Morrisroe is the managing editor and Anthony H. Sarmiento is a contributing editor.

Articles from Vol. 81, No. 10, October

A Case for Raising the Normal Retirement Age
I am not a demographer, economist, social scientist, actuary, or elected official, but I am a CPA, attorney, and assistant professor with 45 years' experience in the healthcare industry - and most importantly I am entering the 67th year of life, the...
Read preview Overview
Accounting for Servicing Assets
A Reporting Challenge for Executives and Financial Statement UsersA list of the top financial reporting challenges faced by financial executives compiled by Financial Executives International (FEI) shows servicing asset valuation ranked as the number...
Read preview Overview
A Value-Added Tax for America?
The U.S. federal government's budget deficit is at an alarmingly high level. According to the Congressional Budget Office (CBO), federal spending has exceeded revenues by well over $1 trillion per year since 2009. The projected total deficit for 2011...
Read preview Overview
Building a Professional Community Online
It's not every day that an earthquake strikes the East Coast, so when one did at the end of August, it took most New Yorkers by surprise. Even though we lack earthquake experience, when you're finally in one, it's hard to mistake for anything else. Still,...
Read preview Overview
Clarifying Head of Household Issues
Taxpayers who are not married or who are considered unmarried may be able to file a tax return as head of household (HOH) if certain conditions exist. HOH filing status gives the taxpayer a higher standard deduction and lower tax rates that fall between...
Read preview Overview
Defending Accounting Malpractice Claims
Why do auditors get sued? The answer is clear: Auditors get sued because a client gets into financial trouble. Or because trade creditors, lenders, investors, or employees are unpaid and unhappy. And, finally, because when things go wrong, people look...
Read preview Overview
Deficit Reduction versus Job Creation
A Delicate Balancing ActThe continuing financial crisis is exacting an enormous price: Poverty is rising in the United States, unemployment remains high, and consumer confidence is in freefall as we watch our elected leaders engage in dysfunctional political...
Read preview Overview
In Defense of Stewardship
(ProQuest: ... denotes text missing in the original.)The idea of stewardship as a prime objective of financial reporting appears to have been laid to rest by FASB and the International Accounting Standards Board (IASB) with the publication in 2010 of...
Read preview Overview
New Guidance for Cloud-Based Service Control Reports
An Introduction to AICPA SOC Reports and SSAE 16When a series of technical problems plagued Amazon.com in April 2011, some customer data were lost as a result of an extended outage in its Amazon Web Services Elastic Compute Cloud (AWS EC2) service. On...
Read preview Overview
Protecting Small Businesses from Fraud
Simple Controls Can Reduce OpportunitiesAccording to the 2010 Report to the Nations on Occupational Fraud and Abuse, "Small organizations are disproportionately victimized by occupational fraud. These organizations are typically lacking in anti-fraud...
Read preview Overview
Rethinking the Purchase of Malpractice Self-Insurance
The prevailing wisdom has always been that CPA firms need to carry malpractice insurance. Nevertheless, many smaller firms do not actually have such coverage - roughly half of all CPA firms (as opposed to individual CPAs) do not have malpractice insurance,...
Read preview Overview
Statement of Net Assets or Net Position?
A Change in Presentation and TerminologyIn June 2011, the Governmental Accounting Standards Board (GASB) issued Statement 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position. The purpose of GASB...
Read preview Overview
Tax Benefits for Higher Education
A Planning Toolbox for CPAsWith annual college expenses running as high as $50,000, CPAs should be aware of the opportunities the IRS offers taxpayers for 2011. Although, dollar for dollar, credits are usually the preferred choice, CPAs should help taxpayers...
Read preview Overview
The Research Credit: Valuable but Often Overlooked
The federal research tax credit is designed to encourage longterm increases in the amounts spent on research and experimental activities for research conducted in the United States. With the passage of the Tax Relief, Unemployment Insurance Reauthorization...
Read preview Overview
Website of the Month: U.S. Government Accountability Office
The U.S. Government Accountability Office (GAO) works for the Comptroller General and committees of the U.S. Congress to audit federal agency operations, investigate fraud allegations, report on the performance of government programs, provide financial...
Read preview Overview