CPA Conversations has previously presented two podcasts with experts discussing the effect the Supreme Court’s in South Dakota v. Wayfair decision will have on internet sales tax. But that’s not the only area impacted by the case. Not many people are talking about what it will do to financial reporting. Luckily, we have James J. Newhard, CPA, sole practitioner in Paoli, Pa., and CPE presenter for Loscalzo Institute, to explain. In a preview of his fall 2018 Pennsylvania CPA Journal Accounting & Assurance column, he details the potential ripple effects on income tax accounting, revenue recognition, and more.
By: Bill Hayes, Pennsylvania CPA Journal Managing Editor