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. 74, No. 1, January

A Crucial Test for New CPAs
Ethics at the Gateway to the ProfessionThe number and magnitude of recent business scandals have created an overwhelming need to reexamine the regulatory environment of the accounting profession. The confidence in the integrity of financial statements...
Auditors as Leaders
Key executives of many companies involved in the ongoing financial scandals have made public statements identifying their external auditor as an influential advisor and claiming to be uninformed of key accounting matters. Those statements don't answer...
Beyond Elevator Analysis
Many bankers use the uncomplimentary term "elevator analysis" to describe how some analysts discuss companies: "This ratio is up, that ratio is down; this metric is up, that metric is down." Elevator analysis focuses on how metrics change from one period...
CPA Responsibilities
Article 1 of the CPAs' Principles of Professional Conduct-Responsibilities reads:In carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities.As professionals, CPAs...
Disclosure: The Real Challenge of Sarbanes-Oxley
The uncertainty surrounding implementation of the Sarbanes-Oxley Act has settled. CFOs have reassured themselves and their boards of compliance with its requirements, are confidently signing 10-Ks and 10-Qs, and have completed internal audits to ensure...
Estimating Economic Loss in Personal Injury Cases
The three forms of forensic accounting practice-litigation support consulting, expert witness testimony, and auditing alleged incidents of fraudrequire finding, analyzing, interpreting, and presenting accounting, statistical, financial, and economic...
Everyone Is Throwing Bones to Accountants. Doesn't That Make You Mad?
You 're proud to be an accountant.It's a highly respectable profession. Your clients trust you, respect you and consider you their most trusted advisor. They hold your integrity in high esteem. Unfortunately, many vendors are either oblivious to this...
Finding the True Cost of Pension Plans
Is the Accounting for Return on Plan Assets Misleading?Accounting for defined benefit pension plans has been likened to accounting for incentive stock options with respect to the distorting effects that accounting practice can have on reported income....
Grow or Get Out: An Exit Strategy for Firms
Accountants are excellent at providing advice on business succession planning. Too few CPAs, however, take their own advice. When developing an exit strategy for an accountant's own firm, too often it takes the hazy form of selling the practice to a...
Inbox: Letters to the Editor
Dealing with Intangible AssetsRecent scandals involving members of the accounting profession have shaken our historical foundations. Every aspect of our standards and conduct is being examined. A flood of pronouncements, legislation, and dialectic is...
Inside the U.S. Tax Court
An Interview with the Honorable Judge Juan F. Vasquez, CPA, U.S. Tax CourtJuan F. Vasquez earned his accounting degree from the University of Texas at Austin in 1972 and joined the audit staff of Lybrand, Ross Bros. & Montgomery (later Coopers &...
Intangible Assets: Framing the Debate
The growing public distrust of audited financial statements should give all CPAs pause. Some critics claim that the only reason CPAs are engaged to provide audit opinions is that regulators, financial institutions, contracts, law, or regulation require...
Internal Control Components: Did COSO Get It Right?
Financial accounting frauds and the attention they bring are not new. Fortunately, neither are the accounting profession's ongoing attempts to limit these types of fraud by encouraging strong systems of internal control. In October 1986, amid growing...
Open-Source Software: Implications for CPAs
Initially dismissed by software giants, open-source operating systems and applications, such as Linux and Sun's office suite, have gained ground in the marketplace during the past three years. As this new paradigm in software applications emerges, it...
Practical Guide to Corporate Governance and Accounting: Implementing the Requirements of the Sarbanes-Oxley Act, 2004 Edition
Practical Guide to Corporate Governance and Accounting: Implementing the Requirements of the Sarbanes-Oxley Act, 2004 Edition By David E. Hardesty, CPA Warren, Gorham & Lamont; approx. 1,500 pp.; $99.95; ISBN 0-7913-5131-9 Reviewed by Robert N. WaxmanThis...
Proposed Legislation and Nonqualified Deferred Compensation Programs
Over the past two years, Congress has been considering legislation that would require significant changes in the design and operation of nonqualified deferred compensation arrangements. While the details are always subject to change until final passage,...
Sales Tax Treatment of Internet Commerce
New York State recently issued an advisory opinion, TSB-A-03 (5) S, regarding the sales tax treatment of Internet commerce. In this opinion, the state took a pragmatic approach while asserting its ability to assess a tax.A Delaware corporation (XYZ),...
'Single Audit' Makes Sense
Complying with many different audit requirements is time-consuming, expensive, and counterproductive for both the nonprofits and the government entities that audit them.Given that concerns about accountability in financial management are currently at...
Some Thoughts on Students and Faculty
On July 1, 1997, after 26 years in public accounting and 10 years at the FASB, I became an accounting professor at the University of Georgia. This "third act" in my career has been both interesting and rewarding. Many ask me which job I have enjoyed...
Taxability of S Corporation Capital Gains to Part-Year Residents
In a recent Advisory Opinion [TSB-A-03(1)I, March 4, 2003], the New York State Department of Taxation and Finance described how a part-year resident S corporation shareholder should report capital gains earned by the S corporation. TSB-A-03(1)I states...
The Future of Standards Setting
During the past decade companies have created increasingly complex transactions that often fall outside the scope of accounting standards. This has lead to an increase in corporate fraud, as evident by recent scandals such as Enron, WorldCom, Adelphia,...
Tips for Painless Billing
Cash is the lifeblood of any business. Billing for it and collecting it are the heartbeat that keeps an organization alive and growing. Despite their essential nature, invoicing and collecting are among many people's least favorite monthly chores. And...
Unlocking the Benefits of the Tax Benefit Rule
Most taxpayers seek any legitimate way to pay less tax. One common source that is frequently overlooked by tax advisors, and more often misunderstood, is the application of the tax benefit rule (IRC section 111) to state and local tax refunds. Simply...
Using the Cash Method of Accounting under Revenue Procedure 2002-28
Revenue Procedure 2002-28 allows certain qualifying small business taxpayers with gross receipts of up to $10 million dollars to use the cash method of accounting and to treat inventoriable items as nonincidental materials and supplies. In addition,...
Website of the Month: Yahoo Tax Center
Yahoo Tax Center (taxes.yahoo.com) is part of the Yahoo Finance family of Internet resources. Although Yahoo Tax Center is aimed at nonexpert taxpayers, practitioners will find several time-saving materials, plus a few hidden gems. Some resources are...
Young CPAs Remain Undaunted by Scandals
Did the demise of Arthur Andersen and the related fallout affect the satisfaction of entry-level accountants at Big Four firms? The answer appears to be "no." Despite the considerable negative press focused on the profession, entry-level accountants...
Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.