Pennsylvania CPA Journal

Summer 2019 Edition

Features

Ton-of-Bricks-Cover

ASC 842 Lease Accounting: If You’re Not Ready, It Could Hit You Like a Ton of Bricks

By James J. Newhard, CPA
Discusses implementation issues connected to new lease accounting standards, including managing third-party expectations and packaging practical expedients.

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Mentorship-Cover

Quality Mentoring Programs Don’t Just Happen, They Need to Be Assembled

By Greg Smith
Covers the steps that need to be taken to ensure a successful mentoring initiative, including developing a clear vision for the program and deciding what sort of mentoring works best for you.

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Deep Dive Video Series

An interview with the author. Watch Here >

Business Advisory Cover

Business Advisory Services Open New Opportunities for CPAs

By Loretta M. Tubiello-Harr, CPA, ABV, CVA
Kim A. Vandergrift, CPA
Examines CPA opportunities in the world of business advisory services, including CFO advisory and risk management.

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Ethics-Cover

Don’t Let Lax Reliance on Experts Blow Up into an Ethics Violation

By Ibolya Balog, CPA
Andrew M. Bernard Jr., CPA
Urges CPA auditors to stay vigilant to the work performed for them by experts in order to prevent them from running afoul of the AICPA and PICPA codes of professional conduct.

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Columns

Business Succession Planning

PracSucPlan

Cross Over the Missing Middle to Secure Succession Plan

By Paul T. Lally
Discusses “the missing middle” in many business succession plans, described as the bridge that connects the entrepreneurial vision that sparked the formation of a business and the long-term vision that enables a private company to pursue goals far into the future.

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CPA Conversations Podcast

An interview with the author. Listen In >

Liability Lessons

Liability

Best Practices for Successful Fee Collection

By Jonathan S. Ziss, JD
Offers CPAs a set of tips for ensuring that they can collect fees from clients without the drastic step of entering litigation.

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Personal Financial Planning

PFP3

Retirement Readiness: An Employer’s Role

By Jeffrey K. Herr, CPA, PFS, CFP
Focuses on how employers can help their staff ensure that they are prepared for the day they choose to stop working.

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Accounting & Assurance

AA

Guidance on Contributions Made and Contributions Received

By Lisa A. Ritter, CPA, CFE, CITP
Explores Accounting Standard Update 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made.

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Careers & Lifestyles

Careers3

It’s a Matter of Trust

By Patricia Benson, CPA, EdD
Considers the need for CPAs to be skeptical, a trait required by the profession, and the negative effect it can sometimes have on relationships in the workplace.

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Business & Industry

BI2

Data Privacy in a Data-Driven World

By Eric Fair, CISA, CBCLA
Dissects privacy laws recently introduced by the European Union and the state of California and the ways in which they have driven organizations to reduce the risk of collection and misuse of personal data.

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Employee Benefit Plans

EBP

Cybersecurity for Benefit Plan Sponsors and Auditors

By JulieAnn C. Verrekia, CPA
Dives into the risks organizations face when dealing with employee benefit plans, due to the ever-present threat of cyberattack.

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CPA Conversations Podcast

An interview with the author. Listen In >

State & Local Tax

State

Philadelphia Alters Tax Positions Based on Federal Events

By Vito A. Cosmo Jr., CPA, CGMA
Matthew D. Melinson, CPA
Katherine M. Piazza, JD
Patrick K. Skeehan, JD
Discusses the way tax reform and the South Dakota v. Wayfair decision have affected the tax structure of the city of Philadelphia.

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Business Transformations

BusTran4

Disposing of IRC 197 Intangibles: It’s All or Nothing

By James P. Swanick, CPA
Michael J. Tighe, CPA
Details tax reform’s effect on the IRS approach to dealing with the sale of Section 197 intangibles.

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Legislative News

State3

Legislation in Full Bloom in Harrisburg

By Peter N. Calcara, CAE
Looks at the status of PICPA’s legislative agenda as our state capitol kicks off the 2019-2020 General Assembly.

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Pennsylvania CPA Foundation

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New Tool for Bolstering CPA Exam Candidates

By Elizabeth M. Kolar
Introduces Surgent CPA Review’s mentor-level sponsorship of the Pennsylvania CPA Foundation Student Ambassador Program and the benefits it seeks to offer future CPAs as they work to pass the CPA Exam.

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