Principles in the New Accounting for Stock Options
2004, FASB issued a revised SFAS 123, Share-Based Payment.
Although presented as a revision to existing accounting
standards, SFAS 123(R) is an extensive (295-page) rewrite
of the existing standards. The SEC has since issued two
interpretations of SFAS 123(R).
Peer Review: Dealing with the Reality of Perceptions
At the NYSSCPA’s annual leadership conference
in mid-July, there was a lot of discussion about peer review,
the process by which CPA firms review each other’s
work in order to ensure high standards. Peer
review is basically educational—helping to correct
firms’ bad practices—rather than disciplinary—enforcing
laws and regulations.
Literacy: CPAs Can Make a Difference
literacy, the ability to effectively evaluate and manage
one’s finances in order to make prudent decisions
toward reaching life goals—basically, knowing what
is necessary to achieve financial goals—is much in
the news. This is not surprising, considering the impact
of financial illiteracy. Full