While hiring recent graduates has always been an important part of accounting firms’ recruitment strategies, it has now become a critical component of many firms’ success. Developing a successful internship program requires careful planning, time and dedication.
When new reporting standards are released, CPAs must assist their nonprofit clients or employers in adapting to the changes in order to comply with the law and his or her professional responsibility. The CPA has a duty to understand the new rules, and, depending on the scope of responsibility, to aid the nonprofit in adapting to those rules.
The upcoming extended 9/16, 9/30, 10/15 and 11/15 filing deadlines in many states is expected to create challenges for CPAs and their clients – similar to last year’s filings. The AICPA Tax Policy & Advocacy and State Legislation Teams have prepared resources for states that are affected by the continuing implementation of the federal Tax Cuts and Jobs Act (TCJA). There’s a great deal of detailed information to help with the filing deadline challenges!
Savvy CPA firms are taking advantage of opportunities to expand their services and quickly deliver more value. International reporting, cannabis guidance, environmental management, and sports and entertainment taxation are among the areas CPAs are enjoying early success in servicing.
It’s been stated time and time again: CPAs need to evolve into strategic advisors and become business partners to clients. While this concept may sound cliché, what often goes unaddressed are the concrete steps firms and individuals can take to turn this idea into a reality.
Phishing is the fraudulent attempt to obtain sensitive information such as usernames, passwords and credit card details by disguising oneself as a trustworthy entity in an electronic communication.
You believe your organization has taken the correct cybersecurity measures, but do your vendors? Hear from Jay Mallory, executive vice president, marketing and business development at Imagequest, and learn the proper steps in ensuring your vendors aren't putting you at risk.
Due to recent legislative changes, the Department of Revenue (DOR) has updated the Resale Certificate (Form 51A105) to include the services that are now exempt for resale, effective July 1, 2019.
The Financial Accounting Standards Board (FASB)’s Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), applies to all contracts with customers unless the contract is within the scope of another standard (e.g., leases, insurance, financial instruments). The standard became effective for public companies for the first interim period beginning after Dec. 15, 2017, and nonpublic companies in the years beginning after Dec. 15, 2018. Businesses can apply this ASU retrospectively, or they can elect to recognize the cumulative effect of applying the new standard to existing contracts in the opening balance of retained earnings on the effective date (with proper disclosures).
Corporate CPAs play a pivotal role in their companies’ success, helping to drive business forward and contribute to its profitability. This is especially true when the CPA is in the position of chief financial officer (CFO). How does a corporate CPA/CFO enhance their skills in the C suite and/or on the board of directors? How do they develop long-term career-building relationships? Whether the employer is a for-profit or nonprofit organization, there are several attributes and qualifications that define (and can elevate) that professional’s value to an organization.
