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Accounting & Auditing

  • The New Credit Loss Standard and the CECL Model

    After almost a decade of study, the Financial Accounting Standards Board (FASB) released an accounting standard on the credit losses on financial instruments. In rethinking how credit losses should be recognized and measured, however, FASB created a standard that affects the accounting for a wide variety of financial instruments and a wide variety of entities.
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  • DOL Proposes Significant Overhaul to Form 5500

    Form 5500 is the primary documentation disclosed to participants and beneficiaries of employee benefit plans. It is an essential compliance tool for the Employee Benefits Security Administration, and it is in the process of being modernized to fit today’s plan operations and practices.
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Ethics


Leadership

  • Salary History Silence: Does It Matter?

    Philadelphia recently became the first U.S. city to bar employers from seeking salary histories for job applicants when City Council unanimously passed the Wage Equity Bill in December 2016. The goal of the legislation is to reduce the gender wage gap.
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  • Why Aren’t Women Better Represented in Leadership Roles?

    Ten or 15 years ago, businesses were developing inclusion programs to attract women into the accounting profession. There has been some success: more than 50 percent of accounting grads were women for many years. But those additional young professional women didn’t translate into growth in the number of women holding leadership roles.
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Practice Management


Technology

  • How Construction Contractors Can Reduce Their Risk of Cybercrime

    If you are in construction and worried about your vulnerability to cyberattack, you'll need a collection of protections in place to help keep hackers at bay and safeguard your data. The first order of business is to establish internal controls over your IT processes and user functions.
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  • Running a Business with Your Head in the Clouds

    Storing information “in the cloud” is a nebulous concept for most. To put it simply, cloud computing is essentially a place to store a lot of stuff. If the cloud was tangible, it would be an organized and (theoretically) limitless version of your attic.
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Tax

  • Federal Tax Committee Weighs in on Health Care Executive Order

    President Donald Trump issued an executive order on Jan. 20, 2017, regarding the Patient Protection and Care Act. It has raised several tax questions. This blog explains PICPA's position regarding 2016 federal personal income tax returns that calculate a penalty for not having mandated health insurance (the shared responsibility payment).
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  • Tax Reform in the Next 100 Days: Can It Be That Close?

    The Republican Party controls both houses of Congress and the White House as a result of the November 2016 election, so it seems the possibility of tax reform has become more likely. Will it happen in the first 100 days of Donald Trump's presidency?
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