201809.17
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ACA Members – The Top 100 Most Influential People in Accounting | Accounting Today

Joanne Barry Executive director and CEO, NYSSCPA As head of one of the largest and most influential state societies, Barry is a major voice for strong professional education, vigilance in maintaining accounting’s integrity in its public service role, and more inclusion for women and minorities. Career Highlights: Executive director and CEO, New York State Society of CPAs, 2010-present; executive director, Foundation for Accounting Education, 2010-present; executive director, Moynihan Scholarship Fund, 2017; publisher, “The CPA Journal;” deputy executive director, 2008-2009; managing director of communications, 2006-2008; director, Communications Division, 1986-1989; assistant director of PR, 1981-1986. … Assistant director of public information and publications editor, Hackensack Medical Center, 1980-1981 … PR, New York…

201809.05
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It bears repeating: Now is a great time to be an accountant | Accounting Today

By Daniel Hood Published August 31 2018, 10:26am EDT Amid all the worries about staffing shortages and succession issues; amid the din of doomsayers prophesying disintermediation by blockchain, artificial intelligence or worse; amid the clamor of ever-more demanding staff and clients; amid the tightening competition from within the profession and without; amid the endless pressure to keep up with changes that keep coming faster and faster and never seem to let up — in the midst of all that, it’s good, from time to time, to reflect on all that’s going well for the profession. Since we here at Accounting Today do our share of sharing the scary news, it’s only appropriate…

201808.21
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CPAs Fight to Protect Part of Their Turf | Wall Street Journal

Some CPAs are fighting with their trade group about who gets to value complex assets for companies Some CPAs are objecting fiercely to a proposal by their main trade group to allow people from outside their ranks to be credentialed to help companies value complex assets. PHOTO: ISTOCK By Michael Rapoport Updated Aug. 20, 2018 5:17 p.m. ET Some CPAs are up in arms about a move by their industry’s main trade group to allow people from outside their ranks to be credentialed to help companies value complex assets. Caught in the crossfire: companies that more than ever need specialists to help assess hard-to-value assets, like brand names and customer relationships. The demand…

201807.24
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MPs Grapple With Changing Firms and Technology – ACA July 19, 2018 Event | Accounting Today

By Michael Cohn Published July 19 2018, 4:46pm EDT A group of managing partners of three New York-area accounting firms discussed the challenges they are facing and some of the new trends during a meeting Thursday of the Accountants Club of America. One of the trends is artificial intelligence. “As a small firm, we’re just starting to look into AI and things of that nature,” said Bart Raffaele, managing partner of Gruber Palumberi Raffaele Fried CPAs PC. “We’re waiting to see what the bigger firms are doing and we’re just going to jump in at that point. For us, it hasn’t really had much effect yet.” One of those bigger firms…

201807.02
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NYSSCPA Elects BDO’s Jan Herringer as President | Accounting Today

The New York State Society of CPAs has elected Jan Herringer, a partner at BDO USA LLP, as president, effective June 1. New York State Society of CPAs president Jan Herringer, a partner at BDO USA Herringer has been a member of the NYSSCPA since 2005. One of her goals as president will be diversity and inclusion within the profession, expanding the work of the NYSSCPA Diversity and Inclusion Committee. She has been part of the NYSSCPA’s Women’s Initiative, which will host a Women’s Initiative Conference next January. Before becoming president, Herringer was a member of the NYSSCPA Board of Directors and Executive Committee, and served as past chair of…

201806.20
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Art of Accounting: Tooting your horn | Accounting Today, Edward Mendlowitz

By – Edward Mendlowitz Published – June 18 2018, 3:34 pm EDT One thing I am good at is leveraging something I did. Leverage in this case means benefiting additionally from what you’ve done. There are also many ways to use leverage. Here are some things I’ve done. • If I have completed a particularly complicated project, I make other clients aware of what I’ve done. This lets them know of expertise beyond what I might be doing for them. Of course I never mention specifics or who the client was • I make staff aware of everything we do that is beyond the ordinary. This expands their knowledge sphere and…

201805.04
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The Right Trust Can Yield Tax Advantages For Wealthy Clients

APRIL 30, 2018 • JEFF STIMPSON High-net-worth clients with estates worth more than $11.18 million per taxpayer must still pay estate taxes under reform. Such clients looking to pass on wealth may now want to look at non-grantor trusts, potentially more attractive due to the Tax Cuts and Jobs Act. In a non-grantor arrangement, the trust owns the assets in the trust and is responsible for taxes for income retained by the trust. This differs from a grantor trust, in which the donor who established the trust retains control of the assets but also pays the necessary i The possible benefit of a non-grantor trusts “is new, complicated and very different. Almost…

201805.03
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Art of Accounting: ‘What’s a CD?’

Early on in my career I met with a widow to review her finances and plan her cash flow after her husband’s death. One of her two daughters was also at every meeting. I knew the husband very well, but had never met his wife or children, and was aware of her being very risk adverse. During the course of the meetings I kept assuring her of the safety of her money and how a laddered CD portfolio would provide for her cash flow and safety of principal. At the end of the last meeting, she said she understood everything I said, except one thing, and she asked me, “What’s…

201804.11
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How Did the Big Four Auditors Get $17 Billion in Revenue Growth? Not From Auditing | WSJ

Consulting is now a cash cow for accounting firms, raising concerns about conflicts of interest At the Big Four accounting firms—Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG—total global revenue from consulting and advisory work now exceeds traditional auditing, where revenue has been relatively flat. PHOTO: REUTERS(2); ZUMA PRESS(2) By Michael Rapoport April 7, 2018 7:00 a.m. ET Audit firms have a tough job. Some critics think they shouldn’t have a second one. For years, the Big Four accounting firms have pushed into consulting, seeking growth their core auditing businesses weren’t providing. Since 2012, the firms’ combined global revenue from consulting and other advisory work has risen 44%, compared with just 3% growth from auditing. The result is that the bulk…