The AICPA's Professional Ethics Executive Committee (PEEC) has proposed a new definition of publicly traded company and has revised the definition of public interest entity as part of [...]
By Melisa Galasso, CPA, CSP, CPTD This article originally appeared in the Winter 2023 issue of the South Carolina CPA Report. As a result of a plethora of federal funding, [...]
Provided by Copper Dome Strategies, LLC The 1st regular session of the 125th South Carolina General Assembly concluded last week. Many of the priorities going into the session were [...]
GASB has approved the issuance of a new Implementation Guide to be issued soon. This blog will review a key question related to SBITAs that is addressed [...]
The compression of the CPA pipeline is an issue of state and national concern. SCACPA, as well as societies in other jurisdictions and national organizations, are continuously exploring avenues [...]
Content provided by Gallagher. SCACPA members can access these benefits and more as a part of their membership benefits package. We believe that a well-equipped workspace contributes significantly to [...]
This week's GLS Genuine Learning Blog gives an overview of the happenings at the Spring 2023 AICPA Council meeting with a look at the agenda and key [...]
In a recent announcement, the South Carolina Department of Revenue (SCDOR) has informed taxpayers and tax professionals, including CPAs, about a significant change in their refund disbursement process. Effective [...]
On Friday May 19, the Office of Management & Budget issued the 2023 Compliance Supplement. This blog will review the largest changes of the various parts of [...]
Last year, the passage of S.812 significantly updated the Accounting Practice Act. Almost as soon as the ink dried on the bill, task forces began drafting revisions to the [...]
The AICPA issued the 4th version of their plans to improve the pipeline of accounting professionals. The AICPA provides some examples of what is causing the issues [...]
The FASB has issued a proposal to provide guidance for companies (both public and private) to reduce diversity in practice around accounting for profits interests. The proposal includes [...]
In an Executive Order issued today, South Carolina Governor Henry McMaster announced the appointment of Brian J. Gaines as the new Comptroller General of the State of South Carolina. [...]
By Jaclyn Veno, CPA, Galasso Learning Solutions This article appears in the Spring 2023 issue of the South Carolina CPA Report For more than a decade, leases have been a [...]
NASBA announced that they have extended the time to sit and pass the CPA exam from 18 months to 30 months after receiving over 850 comment letters. [...]
The South Carolina Department of Revenue (SCDOR) has launched an enhanced online Business Tax Application to simplify the registration process for new businesses in the state. The updated application [...]
COSO has issued a nonauthoritative report on how organizations can leverage the 17 principles and 81 points of focus in COSO 2013 to sustainability reporting. The report [...]
On March 15, 2023, the AICPA’s Professional Ethics Executive Committee (PEEC) issued an exposure draft relating to fees. The exposure draft includes new interpretations for determining fees [...]
The FASB has issued an exposure draft regarding new disclosure requirements relating to income taxes. In addition to new disclosures, the proposal also includes removal of existing [...]
Q1 2023 started off slow but ended with a burst of activity. We'll review the standards issued by the AICPA and FASB in the first quarter of [...]
FASB has issued ASU 2023-02 which expands the use of the proportional amortization method beyond LIHTC structures so long as the investment meets certain conditions. They also [...]
Rundown Today's episode begins with Hotshot explaining his Starbucks run on the way to the Levy house because he forgot his own and how much money he spends there [...]
The FASB issued ASU 2023-01 in response to feedback from private companies around the consideration of legal enforceability when leases were between entities under common control. It [...]
The AICPA's Professional Ethics Executive Committee (PEEC) has issued an exposure draft to make falsifying attendance records or sharing answers (when not permitted) in CPE an act [...]
The Financial Accounting Standards Board (FASB) has issued an exposure draft to address feedback from users, preparers and auditors that crypto currency disclosures needed attention. The proposal [...]
James Goodwillie, Co-Owner of Brightleaf Mortgage LLC, sits down with Dave to talk about his experience building a company from the ground up and what you should do if [...]
The AICPA has issued SAS 149, Special Considerations — Audits of Group Financial Statements (Including the Work of Component Auditors and Audits of Referred-to Auditors), which supersedes [...]
Taking a big first step towards a global nonprofit accounting framework, IFR4NPO has issued the first of 3 expected exposure drafts for public comment. The exposure draft [...]
GLS is very excited about the recent roll out by the Financial Accounting Foundation (FAF) of its free (and enhanced) access to the FASB Codification and the [...]
The OMB provided notice of Request for Information (RFI) and notification of proposed guidance to 2 CFR. The OMB, through the RFI and the proposed rule revisions, [...]