The SET Tax: A Tax System for Our Future

FEBRUARY 2006 - The New York State Society of Certified Public Accountants (NYSSCPA) has published this position paper as a guide for our political leaders and others interested in practical issues raised by fundamental tax reform.

The paper was prepared by a special NYSSCPA Committee on Practical Reform for the Tax System. It was approved by then–Society President John J. Kearney. The paper represents an official policy position of the NYSSCPA.

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Publisher's Column

Principles-Based Accounting

There is currently an intense debate over the merits of rules-based accounting versus principles-based accounting. In the opinions of these authors, the debate is a waste of time, because for at least 35 years, the law has required adherence to principles-based accounting. The fact that practitioners have ignored the law is one reason for the accounting profession’s current difficult situation. Law comes into existence not only through legislation, but also by regulation and litigation. Laws from all three sources are binding, one source no less so than another. Full Story

On Solving Problems Before They Become Crises

Over the last few decades, budget cutbacks have resulted in understaffing at many government agencies. Consequently, some agencies, trying to ensure accountability, require CPAs to provide opinions on cost reports that could extend beyond their traditional audit work in connection with the entity’s financial statements. A related consequence of these broader cost-reporting requirements is that many nonprofits and government agencies increasingly require audit-related services but don’t want to pay for them. Full Story

Give Me the Good and the Bright

Even with the string of financial frauds that led to the Sarbanes-Oxley Act of 2002 (SOX), some accounting professors continue to wring their hands not over the moral failures of the profession, but over attracting students who are “the best and the brightest.” A study by professors Thomas Frecka and William Nichols, published in Issues in Accounting Education, found that the best MBA programs are attracting students with significantly higher test scores than are the top graduate accounting programs. Full Story

The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments.

©2009 The New York State Society of CPAs. Legal Notices


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