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Full-Text Articles in Accounting
How The Madoff Fraud Could Affect Your Cpa Practice, Stephen Scarpati
How The Madoff Fraud Could Affect Your Cpa Practice, Stephen Scarpati
WCBT Faculty Publications
With an estimated $65 billion lost from trust funds, retirement plans, pensions, investment funds, inheritance monies, and nonprofit organizations, many people have been adversely affected by the Ponzi scheme perpetrated by Bernard L. Madoff. When you combine a lot of lost money with a lot of angry people, the result is a lot of lawsuits. The breadth of those lawsuits will encompass all associated with the affected organizations--including CPAs. Those messages were loud and clear at the May 27, 2009, breakfast symposium "Are CPAs the Next Madoff Victims? The Accountant's Liability," sponsored by The CPA Journal.
Mentoring The Next Generation, Stephen Scarpati
Mentoring The Next Generation, Stephen Scarpati
WCBT Faculty Publications
The article discusses the highlights of the 2009 Accounting Educators Conference held in New York State. Information about the certified public accountant (CPA) examination, accountancy reform law and accounting education requirements are provided by Dan Dustin of the New York State Board for Public Accountancy. Ebony Thomas of Ernst & Young and Lisa Brandt of UHY Advisors NY Inc. discussed salaries for new accountants and related recruiting issues. Some pieces of advice are offered to CPA who are counseling accounting students.
Fair Value Measurement: What’S New? Teaching Note, Danny A. Pannese, Alan Delfavero
Fair Value Measurement: What’S New? Teaching Note, Danny A. Pannese, Alan Delfavero
WCBT Faculty Publications
As the international economic landscape has become increasingly integrated, the argument for the development of uniform global accounting standards now exists. In an effort to achieve this objective, the Financial Accounting Standards Board, as part of the ongoing Convergence Project with the International Accounting Standards Board, released groundbreaking accounting standards, FAS157 & FAS159, in 2006 and 2007, respectively. Modeled after an international accounting standard, these standards pertain to the use of fair value accounting (FVA), and are the first of their kind as they provide a definition of FVA and an option to expand its use to certain financial instruments. …