Genuine Learning Blog: Proposed Concept Statement: Chapter 6: Measurement
In December, FASB issued a proposed chapter of the Conceptual Framework on measurement. The proposal identifies 2 systems of measurement: entry prices and exit prices. [...]
Genuine Learning Blog: Induced Conversions of Convertible Debt Instruments
In December, FASB issued a proposed ASU that helps organizations determine whether a transaction is an induced conversion or an extinguishment. The topic comes from [...]
Genuine Learning Blog: DOL Audit Quality Study Report
In November 2023, the DOL issued their Audit Quality study that found that 30% of ERISA audits from 2020 (prior to the adoption of SAS [...]
Genuine Learning Blog: GASB 102
In January 2024, GASB issued Statement 102, Certain Risk Disclosures which provides additional risk information to users beyond those currently required. The standard focuses on [...]
Genuine Learning Blog: 2023 Trends Report
The AICPA issued their 2023 Trends report which provides data on trends related to supply and demand for accounting students as well as trends related [...]
Genuine Learning Blog: 2023 Year In Review
2023 is in the record books. This blog will review the standards that were issued by the FASB, AICPA and GASB throughout the year. This [...]
Accountable Podcast: NEXT Practices — Not BEST Practices with Karl Ahlrichs
When it comes to unclogging the CPA pipeline, Karl Ahlrichs (an HR professional and thought leader who's also bilingual in accounting) doesn't believe you should emulate tried-and-true best practices. [...]
Genuine Learning Blog: ASU 2023-09
In response to the requests of investors for more disaggregation, the FASB has issued ASU 2023-09, Improvements to Income Tax Disclosures. The ASU will require [...]
Genuine Learning Blog: AICPA ED on Stablecoin
The AICPA's Assurance Services Executive Committee (ASEC) recently issued an exposure draft to provide a framework for stablecoin issuers to present information about stablecoins and [...]
Genuine Learning Blog: ASU 2023-08
On December 13th, the FASB issued ASU 2023-08 to improve the accounting for and disclosure of certain crypto assets. This new standard responds to feedback [...]
Genuine Learning Blog – GAO Report: COVID19 Fraud Schemes
Building on last week's blog, this week's looks at another COVID-19 report issued by GAO which looks at the common fraud schemes found. The report, [...]
Accountable Podcast – Public Speaking: From Oration to Ovation with Eileen Smith
Studies have shown that most people fear public speaking more than death. As Jerry Seinfeld once put it, “…that means the average person at a funeral would rather be [...]
Genuine Learning Blog: ASU 2023-07
In November 2023, FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which requires public companies to provide additional disclosures about their segments which were [...]
Accountable Podcast: How to Cure Your Cyber Insecurity with Clar Rosso
Unfortunately, it's not a question of whether cyber criminals will impact our lives but when. Are you and those you serve prepared? As CEO of ISC2, the world's leading membership association [...]
Genuine Learning Blog: GAO COVID Report
GAO has issued two COVID fraud related reports. This week's blog looks at the first one which focuses on some of the insights and lessons [...]
From LLR: Renewals for CPA or AP License Now Open
Renewals for your Certified Public Accounting or Accounting Practitioner license with the South Carolina Board of Accountancy for 2024 are now open. Information to renew your license online is [...]
From SCDOR: Changes to Mandatory Minimum Requirement for Employers Uploading W-2s
Employers who file at least 10 W-2 or 1099 forms with South Carolina withholding are now required to submit those documents to the South Carolina Department of Revenue (SCDOR) [...]
Genuine Learning Blog: Proposed Peer Review Standards Update No. 2
The AICPA is proposing changes to the peer review standards. This update includes proposed changes for quality management with effective dates that would tie to [...]
Accountable Podcast: Forging a Brighter Professional Future with Donny Shimamoto, CPA, CITP, CGMA
The forecast is in: Be on the lookout for doom 'n' gloom. At least, that's how the media are painting the future -- as a bleak world, upended by [...]
Genuine Learning Blog: Updated Statements on Standards for Tax Services
While we often think of accounting and auditing when we think standards, tax professionals are also subject to standards which are changing effective January 1, [...]
Accountable Podcast: Leadership and Workplace Culture with Joey Havens, CPA
Tune into the latest Accountable podcast with guest, presenter, teacher, facilitator, partner and author, Joey Havens, CPA. Listen while Dave and Joey discuss the tremendous opportunity that comes with exponential [...]
Genuine Learning Blog – ITC: International Non-Profit Accounting Guidance Part 2
This blog will cover the second phase of the International Non-Profit Accounting Guidance by looking at Exposure Draft 2 and its proposed guidance for nonprofits. [...]
SOC Code Fields Available Now to Prepare for Required Reporting by April 2024
Submitted by the South Carolina Department of Employment & Workforce Development New data to give South Carolina businesses the advantage in hiring and building their workforce. Once again, South [...]
Accountable Podcast: The Economics of Burnout with Dr. Holly A. Sullenger
Did you know 77% of employees reported burnout at least once in their current job and 68% of staff cited lack of a good work/life balance as significantly impacting [...]
Genuine Learning Blog: 2023 National Management of an Accounting Practice (MAP) Survey
The AICPA has released their 2023 National Management of an Accounting Practice (MAP) Survey Executive Summary. This summary can help firms benchmark themselves against the [...]
Genuine Learning Blog: Disclosure and Classification of Certain Capital Assets
The GASB recently proposed to separate out disclosures of various types of assets to help users understand the types of assets. Due to the creation [...]
Accountable Podcast: Building a Business with Balance and Bliss with Amy Vetter, CPA, CITP
Accounting and finance professionals are notorious for burning the candle at both ends. In fact, is finding balance between work and life even possible? "It is," says Amy Vetter, [...]
Genuine Learning Blog: Proposed SSAE to Conform with Quality Management
The AICPA's Auditing Standards Board has issued a proposed SSAE to conform the attestation standards with the new quality management suite. Comments are due December [...]
Cuffed for a Cause: Free Donny Burkett!
One of our own SCACPA members, Donny Burkett, has landed himself in the slammer! But don't fret; it's all in good fun and for a fantastic cause. Mr. Burkett [...]
From the IRS: Withdrawal Process for ERC Claims, Webinar Opportunity & More
From the IRS IRS announces withdrawal process for Employee Retention Credit claims; special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing As part of [...]