Genuine Learning Blog: ASU 2022-05 & 06
In December 2022, the FASB issued two Accounting Standard Updates that make changes to previously issued standards. ASU 2022-05 updates the transition guidance for ASU 2018-12 impacting long duration [...]
Accountable: Virtual Currency with Jerry Comizio
This week on Accountable, Virtual Currency Are you curious about the origins of Virtual Currency or maybe concerned about how it's doing lately? In this episode of Accountable, Jerry [...]
Genuine Learning Blog: Proposed Changes to Peer Review Standards
The AICPA has issued proposed changes to the peer review standards. The proposal is filled with several technical corrections and wording changes with the intent to improve clarity of [...]
From LLR: Licence Renewal Notice
The following email was sent from the South Carolina Department of Labor, Licensing and Regulation on December 3, 2022. Questions regarding this renewal process and your CPA license may [...]
Genuine Learning Blog: GASB Proposal – Implementation Guide 2023
GASB has issued 9 questions for public comment that relate to leases, SBITA and accounting changes. The implementation guidance which would be issued in 2023 would be authoritative interpretations [...]
Genuine Learning Blog – Proposed Changes to Lease Accounting (Topic 842)
FASB has proposed changes to Topic 842, Leases for related parties under common control. The proposal would change the evaluation of the lease term for private entities under common [...]
Genuine Learning Blog – Proposed Changes to the Uniform Accountancy Act’s Model Rules
NASBA is proposing changes to Rule 5-7 Retake and Granting of Credit Requirements related to the CPA exam. The date from which credit is calculated varies among the jurisdictions [...]
Accountable Blog for CFOs: Thinking About Leaving: Maintaining Employee Retention During Leadership Change
When it comes to financial services, employees are the face of the business. While many people probably have the technical skill set to do the work, the relationships that [...]
New IRA Act Bolsters R&D Tax Credit for Early-Stage Companies
South Carolina Startups Could Save an Extra $250,000 Per Year, up to $2.5MM Submitted by Margaret Krajcer JD, Vice President and General Counsel of Tax Credits Group On August [...]
Genuine Learning Blog – Technical Q&A (TIS) Section 250: Ethics
The AICPA has issued 3 new question and answers around the implementation of the new Information System Services interpretation which will be effective in January 2023. The interpretation has [...]
SC Election Results at a Glance
Prepared by Copper Dome Strategies First election under new state law that allowed for early voting A newly enacted voting law allowed for 12 days of early, in person [...]
Accountable: Biz Development & Marketing Considerations
This week on Accountable, Biz Development and Marketing Considerations Starting a new business is overwhelming! There are so many things to think about! In the last episode of Accountable, [...]
Genuine Learning Blog – Proposal: Joint Venture Accounting
The FASB has proposed a new standard that is intended to reduce diversity in practice related to joint venture accounting at inception. When items are contributed to a joint [...]
CPA EVOLUTION: Tentative Key Dates Announced
The National Association of State Boards of Accountancy has announced tentative key dates regarding the implementation of the CPA Evolution initiative and the changes it will have on the [...]
Genuine Learning Blog- Proposed Concept Statement: Chapter 2: The Reporting Entity
While the FASB continues to work on updating GAAP, they have also been diligently working on filling in the gaps in the conceptual framework. This proposal would add chapter [...]
Genuine Learning Blog: Proposed Changes to Segment Reporting
After its post-implementation review, the FASB has proposed some updates to the current segment reporting requirements including requiring those entities with only one segment to provide disclosures. It also [...]
Genuine Learning Blog: ASU 2022-04
FASB has issued a new ASU relating to supplier finance programs. Prior to this ASU, there was no explicit disclosure requirements and users requested more understanding of these types [...]
Accountable: Blog for CFOs: Designing Websites & Making the Most of Your Online Presence
Originally posted on David's Accountable Blog It has often been said that you never get a second chance to make a first impression. While no one is quite sure [...]
Genuine Learning Blog: Ethics Technical Correction – 529 Plans
The initial guidance for 529 plans was issued back in 2005. Since then, there has been significant changes to how plans are run. The AICPA's Professional Ethics Executive Committee [...]
Genuine Learning Blog: Q3 2022 in Review
Quarter 3 of 2022 is in the books. We'll review the accounting and auditing (and ethics) standards issued by standard setters this quarter. What would you like to see [...]
Accountable Podcast: New Business Considerations
This week on Accountable, New Business Considerations Starting a new business is overwhelming! There are so many things to think about! Where and how do we get clients? Do [...]
Disaster Relief: Updates Regarding Hurricane Ian
Updated 10/10/2022 We just received news from the SC Department of Revenue regarding its response to Hurricane Ian. This announcement aligns the deadline extensions the IRS announced last week [...]
Genuine Learning Blog – GAO: Government Efficiency and Effectiveness Report
GAO has issued their annual report about ways the federal government can reduce inefficiencies and redundancy across a wide variety of programs and departments. The report gives a status [...]
Genuine Learning Blog: ASU 2022-03
The FASB has issued ASU 2022-03 which is a niche standard providing clarification around restrictions on sale and their impact on the determination of fair value. The standards also [...]
Genuine Learning Blog: SAS 148
SAS 148 updates AU-C 935 for recent changes in SASes 142 and 145 which made the appendix out of date. AU-C 935 is used for Compliance Audits and helps [...]
Genuine Learning Blog: 2022 FASB Investor Outreach Report
The FASB has issued their 2022 Investor Outreach Report detailing their interactions with investors throughout the 7/1/21 - 6/30/22 period. It provides details on the advisory groups with investors [...]
Accountable Podcast: Why do I need cyber liability insurance?
This week on Accountable, Why do I need cyber liability insurance? We all hear things in the news about cybercrimes and the devastating effects that they have on companies, [...]
Genuine Learning Blog: Revised Statements on Standards for Tax Services Proposal
The AICPA's Tax Executive Committee has proposed changes to the Statements of Standards for Tax Services (SSTSs). The proposal has two parts. Part 1 is an Exposure Draft of [...]
Auditors: AICPA GAQC Needs Your Feedback
The AICPA Government Audit Quality Center needs your feedback. Due to the historic amount of federal pandemic funding, the AICPA Government Audit Quality Center (GAQC) is gathering auditor feedback [...]
Accountable Blog: Why Do We Do CPE?
Submitted By David Peters, CPA, CFP, CLU, CPCU Visit Accountable: Blog for CFOs “I am just trying to get my credits in.” I have heard these words uttered by [...]