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Accounting & Auditing

  • Alternative to GAAP for Private Companies: Where It Stands

    In 2012, the Financial Accounting Foundation supported the AICPA’s effort to provide expanded guidance on OCBOA for smaller private businesses. The result was the Financial Reporting Framework for Small and Medium-Sized Entities (FRF for SMEs), which was released in June 2013. Five years later, has FRF for SMEs had any impact?
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  • Regulatory Compliance and Risks in Financial Technology Industry

    It is widely believed that financial technology is going to do to banks and brokerage firms what Amazon did to retailers. With the ever-increasing interest in using financial technology platforms as an alternative to conventional banking, the need for effective oversight over these products has never been greater.
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Tax

  • Tax Planning and Tax Reform – Why CPAs Matter

    The Tax Cuts and Jobs Act increased take-home pay for many. However, most people have not adjusted their withholding rates to prevent a larger tax bill at the end of the year. Find out what CPAs have been noticing among their clients.
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  • Wayfair May Have Opened Up Online Sales to Pennsylvania Taxes

    In South Dakota v. Wayfair Inc., the U.S. Supreme Court overruled the physical presence requirement for the collection of state sales tax. Some states will have to remove limiting language from their tax statutes before they can reach remote sellers. Pennsylvania, arguably, already has a sales tax statute that reaches them.
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