What's the difference between a private and public blockchain?
Blockchain is forecast to transform many industries by providing fast, verifiable transfer and tracking. At its core, blockchain is a distributed ledger that records transactions between every user in the chain. Although it’s commonly regarded...
Blockchain, machine learning, and a future accounting
The inventor of bitcoin and blockchain technology goes by the name Satoshi Nakamoto. Though Nakamoto claims to be a Japanese man born in 1975, most experts believe Nakamoto is a pseudonym. Some have gone so far as to theorize that Nakamoto isn't...
IRS issues proposed regulations on new 20 percent deduction for passthrough businesses
We're ready and willing to work through this guidance with you... stay tuned for details on an upcoming program with Walter Nunnallee.
Move Over Millennials, It’s Gen Z’s Turn to Kill Industries
Millennials have been accused of killing so many products and industries—taxis, landlines, snail mail—that it’s become a media trope. But millennials are old news. Today, businesses and marketers are desperately anticipating the murderous whims...
Beyond The Numbers: Financial Executives' Roles Continue To Expand
Financial leaders continue breaking the mold and expanding their influence throughout their organizations. In a Robert Half Management Resources survey, finance executives most frequently reported their roles have grown over the past three years...
IRS issues guidance on small business accounting method changes under Tax Cuts and Jobs Act
The Internal Revenue Service issued guidance today on new tax law changes that allow small business taxpayers with average annual gross receipts of $25 million or less in the prior three-year period to use the cash method of accounting. The...
Beyond robotics: How AI can help improve the audit process
The CPA profession has been hearing a lot about Robotic Process Automation (RPA), a software technology that can help auditors sift through structured data.
CPAs’ top 5 questions about blockchain, cryptocurrencies
Tax ramifications, smart contracts, and job security are among the issues top of mind for accountants.
How corporate directors can improve cyber readiness
Cybersecurity threats and regulations are evolving rapidly, and executives and corporate boards must work to keep up with the ever-changing business challenge that cyber risk poses. For many of these leaders, keeping up in the coming year might...
Survey: CT voters prioritize jobs, health care, taxes
Jobs, health care and taxes are the most important issues this year for Connecticut voters when electing candidates for governor, the state legislature and U.S. Congress, according to a new survey.

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  Finding the Value in Fair Value

By Gretchen G. Naso, CVA

Over the past 15 years, fair value accounting has evolved to become a part of many private companies’ financial statements. This evolution has not come without controversy. Due to its heavy reliance on assumptions and professional judgment, fair value reporting is dismissed by critics as an art, not a science, and is often considered unreliable.

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  Connecticut CPA magazine feature
U.S. Department of Labor’s New Fiduciary Rule Now Applies
Expands definition of investment advice

By George J. Kasper, J.D., LL.M., Pullman & Comley; Member, CTCPA Employee Benefit Plans Interest Group

Last year the U.S. Department of Labor (DOL) released a controversial new fiduciary regulation (the “Fiduciary Rule” or “Rule”) and related exemptions that impact investment advisers to certain retirement plans, IRAs, and other similar arrangements. The Rule has garnered much attention due to its broad application not only to financial institutions and their advisers, but others who provide services to plan sponsors, participants, and retirement account owners as well. In the midst of ongoing debate, legal challenges, and a directive from President Trump, the DOL delayed the Fiduciary Rule “applicability date” until June 9, 2017.

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  Connecticut CPA magazine feature
Making Work Work for the 21st Century: Exploring the Benefits of Workflex

By Cassidy J. Solis, Workplace Flexibility Program Specialist, Society for Human Resource Management

The 21st century workplace requires policies and practices that are responsive to employee needs and enable them to have more control over how they accomplish their work and responsibilities. That’s why top employers are making effective and flexible work – or “workflex” – a fundamental part of their strategy to attract and retain the best talent.

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  Recovering Losses From Employee Theft and Embezzlement

By Stephen A. Pedneault, CPA/CFF, CFE, Forensic Accounting Services, LLC

Individuals are stealing at an alarming rate, and the subsequent losses range from hundreds of thousands to millions of dollars. Over the past 10 years, the frequency of employee fraud has reached epidemic levels, yet only a fraction of these cases ever become public. Most are quietly resolved – for many reasons, but primarily to avoid negative publicity.

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