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. 76, No. 7, July

2005 Max Block Award Winners Recognized
The winners of the 2005 Max Block Distinguished Article Awards were announced and presented at the NYSSCPA's 109th Annual Election Meeting and Dinner on May 18. The presentations were made by NYSSCPA 2005/2006 President Stephen Langowski. The award recognizes...
A Hard Look at Tax Software: 2006 Annual Survey of New York State Practitioners
Respondents to the 2006 annual survey of New York State tax practitioners report that they are satisfied with available tax software products and indicate modest increases in the use of technology solutions over the last few years. Survey participants...
Asking Tough Questions about the 150-Hour Requirement
The idea to require students to complete additional, postgraduate education before becoming eligible to receive a CPA license was first introduced by the AICPA in 1959. In that year, the AICPA's Special Coordinating Committee to Study the Report of the...
Defined Contribution Plan Failure: Options for Participants
If an employer fails, or terminates a defined benefit plan, participants may find themselves facing significant shortfalls. Absent outright fraud or theft, however, the failure of a defined contribution sponsor is not usually as troublesome.Assuming...
Design and Maintenance of Accounting Manuals: A Blueprint for Running an Effective and Efficient Department (4Th Edition)
Design and Maintenance of Accounting Manuals: A Blueprint for Running an Effective and Efficient Department (4th edition) By Steven M. Bragg and Harry L. Brown Published bv John Wiley & Sons, Inc.; ISBN 0-471-41559-6; $170; 493 pages (hardcover);...
E-Mail Security for Small Businesses
Protecting Digital InformationKeeping something private used to mean locking a file cabinet, using the shredder, or speaking in hushed tones. But the prevalence of e-mail has taken privacy to a new realm. From personal information to intellectual property,...
Ethics in Accounting Education: The Forgotten Stakeholders
The National Association of State Boards of Accountancy (NASBA) recently issued an exposure draft on proposed revisions to the Uniform Accountancy Act. Rules 5-1 and 5-2. NASBA is currently reviewing the comments that have been received. Practicing professionals...
Forensic Computing: A Review of a Growing Technical Field
Forensic computing is a science that can have many definitions. For example, the Australian Institute of Criminology defines it as: "the process of identifying, preserving, analyzing and presenting digital evidence in a manner that is legally acceptable."...
Inbox: Letters to the Editor
Principles-Based Accounting and the Continental Vending DecisionHaving been associated for over 40 years with the firm that audited Continental Vending and being well-acquainted with the three defendants, I read with great interest the article "Principles-Based...
Is the Public Ready for Transparent Peer Reviews?
The leaders of the accounting profession, including the AICPA, are in the middle of a campaign to convince members of the profession to support making peer review results transparent. The AICPA has defined transparency as communicating the facts clearly...
Mandatory Debit Card PIN Security Reviews
Practice Development and Social Service OpportunitiesDebit and ATM cards have become an increasingly popular payment option for U.S. consumers, and merchants benefit significantly from debit cards' low transaction costs. Debit cards have become so popular...
Radio Frequency Identification and How to Capitalize on It
What CPAs Should Know About RFID TechnologyBusinesses must leverage information technology (IT) to improve their operations and create a competitive advantage. A dramatic shift toward mobility and real-time information is changing the way business data...
Real Estate Investors Can Benefit from Cost Segregation Studies
Many real estate investors and business property owners are improving cash flow and finding immediate tax savings from their business properties. Through cost segregation studies (CSS). they are taking advantage of the significant tax benefits from accelerated...
Reducing SOX Section 404 Compliance Costs
A Top-Down, Risk-Based ApproachThe general opinion of many companies that have completed their first year of compliance with the Sarbanes-Oxley Act (SOX) is that the costs associated with complying with section 404 are too high. The Public Company Accounting...
Revenue Recognition Revolutionized
The Brave New World of RFID ChipsYears ago, the "ka-ching" of a cash register signaled the appropriate time to recognize revenue. With the advent of radio frequency identification (RFID) chips, revenue recognition in the future may be signaled by a "beep."Advances...
Sarbanes-Oxley Section 404 and Mandatory E-Filing
Are Corporate Tax Departments Burning the Candle at Both Ends?In recent years, in-house corporate tax departments have evolved from cost centers focused on efficiently complying with the tax law, to profit centers focused on reducing a company's effective...
Spam: Choosing the Right Defense
Spam-unsolicited bulk e-mail -is a problem that affects businesses of all sizes. The Federal Trade Commission estimates that in 2004 spam made up 83% of the e-mail traffic in the United States. Left unchecked, spam can have a detrimental effect on a...
System Security Threats and Controls
The Sarbanes-Oxley Act of 2002 (SOX) authorized the Public Company Accounting Oversight Board (PCAOB) to establish auditing and related practice standards to be used by public accounting firms. PCAOB Auditing Standard 2 (AS 2; An Audit of Internal Control...
Website of the Month: Citrin Cooperman & Company, LLP
Note: This column periodically reviews websites of some of the larger public accounting firms, as well as some smaller firms that have particularly good sites.Citrin Cooperman & Company, LLP, is a regional public accounting firm and one of Accounting...
Whistleblowing: The Devil Is in the Details
Awhistleblower is generally defined as an employee who discloses potentially damaging information about their employer to an authority figure, such as their boss, the media, or a government official.Employees who have sought to "blow the whistle" on...