Monthly Archives: July 2020

View From the Dome: Board of Economic Advisors Anticipates SC’s 2019-20 Surplus as $220M

By |2020-10-07T18:31:46-04:00July 31st, 2020|Advocate, Blogs, COVID-19, Governmental, Legislative/Advocacy, Membership Page Controls, Regulatory, Tax|

By Copper Dome Strategies Friday, July 31, 2020 Gov. Henry McMaster issued a new Executive Order on Thursday allowing all remaining businesses that closed as the coronavirus began spreading [...]

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What Does SCACPA Membership Mean to You? These Survey Respondents Tell That Story

By |2020-09-21T21:29:27-04:00July 29th, 2020|Blogs, Connect, Featured, Membership, Membership Page Controls, Public Relations, Why CPA|

As SCACPA enters its third year of All-Inclusive Membership, we wanted to hear what South Carolina CPAs had to say about the experience. We’ve compiled the results of our [...]

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NASBA Board Unanimously Approves CPA Evolution Framework

By |2020-07-28T15:15:51-04:00July 28th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Legislative/Advocacy, Membership, Membership Page Controls, Public Relations, Regulatory, Technology, Why CPA|

The National Association of State Boards of Accountancy Board of Directors has announced its unanimous vote of support for the advancement of the CPA Evolution initiative that designs and [...]

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SCACPA Announces the 43 Student Members Who Earned $64,500 in EdFund Scholarships for 2020

By |2020-10-13T14:05:55-04:00July 27th, 2020|Blogs, Grow, Membership, Membership Page Controls, Why CPA|

Peyton Elmore of the University of South Carolina The South Carolina Association of CPAs Educational Fund Trustees are proud to announce it has awarded $64,500 to 43 [...]

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Surgent’s On-Demand Self-Study Offers SCACPA Members the Specific CPE You Need With More than 230 Courses

By |2020-10-13T22:41:03-04:00July 24th, 2020|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Membership, Partners, Public Relations, Regulatory, Tax, Technology|

SCACPA is excited to continue partnering with Surgent CPE for on-demand self-study in the 2020-21 membership year. Association members can depend on this incredible opportunity to get specialized knowledge [...]

Galasso Learning Solutions: Proposed ASU – Insurance Effective Date

By |2020-10-07T18:37:32-04:00July 23rd, 2020|Auditing & Accounting, Blogs, Educate, Governmental, Membership Page Controls, Regulatory|

FASB has issued an exposure draft that would delay the effective date of ASU 2018-12, which provides updated guidance on financial reporting for long duration insurance contracts. The effective [...]

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Galasso Learning Solutions: SAS 142

By |2020-10-07T18:37:39-04:00July 23rd, 2020|Auditing & Accounting, Blogs, Educate, Membership Page Controls, Regulatory|

Issued in July 2020, SAS 142 explains what constitutes audit evidence and sets out attributes of information when evaluating information. What questions do you have? Send your questions to [...]

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SCACPA Legislative Update: Congress Requires Recommendations from CPAs for Next Phase of COVID-19 Relief Legislation

By |2020-07-21T16:32:45-04:00July 21st, 2020|Advocate, Blogs, Business & Industry, COVID-19, Featured, Governmental, Legislative/Advocacy, Membership Page Controls, Tax, Technology|

The U.S. House of Representatives and Senate have returned to Washington, DC, for the first time since June. Leadership from both chambers are in deep discussion about a path forward [...]

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SCACPA and Paychex are Partnering to Provide Helpful Resources

By |2020-07-21T14:32:31-04:00July 21st, 2020|Auditing & Accounting, Blogs, Business & Industry, Communicate, COVID-19, Featured, Membership Page Controls, Partners, Public Relations, Regulatory, Technology|

A message from SCACPA CEO Chris Jenkins: With so much change impacting business, there is no better time for SCACPA and Paychex to be working with one another. SCACPA [...]

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SCACPA Happenings: Week of July 20-July 24

By |2020-07-20T16:39:35-04:00July 20th, 2020|Blogs, Connect, Membership Page Controls, SCACPA Happenings|

THIS WEEK: Congratulations to all our CPAs who wrapped up the July 15 tax deadline. Thank you for all your dedication to the profession and to your clients. Did you [...]

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Galasso Learning Solutions: GASB Preliminary Views – Revenue and Expense Recognition

By |2020-10-07T18:37:45-04:00July 17th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, Governmental, Membership Page Controls, Regulatory|

GASB has issued a preliminary views document, which is their second phase in updating revenue and expense guidance. Building on the ITC issued in 2018, the PV continues to [...]

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Should My Firm File Protective Claims in Advance of the Supreme Court Decision on ACA?

By |2020-07-14T14:37:12-04:00July 14th, 2020|Advocate, Featured, Governmental, Legislative/Advocacy, Membership Page Controls, Public Relations|

This Q&A from SCACPA and the AICPA can help your firm’s decision-making. In March of this year, the U.S. Supreme Court announced that it will hear a case that challenges [...]

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BPS CPA Kaczor to Address National Conference with Strategies to Combat COVID-19 Spike in Business Fraud

By |2020-07-13T14:16:17-04:00July 14th, 2020|Auditing & Accounting, Blogs, Business & Industry, COVID-19, Educate, Featured, Legislative/Advocacy, Membership, Membership Page Controls, Public Relations, Regulatory, Technology|

Fraudsters have been taking advantage of the new work and life routines of the pandemic and causing mayhem, according to Jessica Kaczor, CPA, CFE, of Bauknight, Pietras & Stormer, [...]

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SCACPA Happenings: Week of July 13-July 17

By |2020-07-13T17:57:16-04:00July 13th, 2020|Blogs, Connect, Membership Page Controls, SCACPA Happenings|

THIS WEEK: SCACPA’s All-Inclusive Membership year for 2020-21 launched July 1! Thank you to all who have renewed your dues. To make sure we deliver all the benefits you rely [...]

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Galasso Learning Solutions: Recognition of Elements of Financial Statements

By |2020-10-07T18:37:55-04:00July 13th, 2020|Auditing & Accounting, Blogs, Educate, Membership Page Controls, Regulatory|

GASB has proposed major changes to the concept statements for recognition. The proposal further develops the concept of the short-term financial resources measurement focus. It makes changes to these [...]

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View From the Dome: accelerateED Task Force Offers its Guidance for 2020-21 School Year

By |2020-10-07T18:38:08-04:00July 10th, 2020|Advocate, Blogs, COVID-19, Governmental, Legislative/Advocacy, Membership Page Controls, Regulatory|

By Copper Dome Strategies Friday, July 10, 2020 Two legislative committees met this week to receive briefings on re-opening public schools in the fall and the effects of COVID-19 [...]

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SCDOR Releases 2020 Tax Legislative Update

By |2020-07-09T20:37:21-04:00July 9th, 2020|Advocate, Blogs, Business & Industry, Featured, Governmental, Legislative/Advocacy, Membership Page Controls, Tax|

The SCDOR’s Information Letter 20-19 is a six-page summary of significant changes in South Carolina’s tax and regulatory laws enacted as of May 2020. It was released Thursday, July [...]

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SCACPA Happenings: Week of July 6-July 10

By |2020-07-08T12:46:45-04:00July 8th, 2020|Blogs, Connect, Membership Page Controls, SCACPA Happenings|

THIS WEEK: The new 2020-21 year of SCACPA All-Inclusive Membership began July 1. If you have yet to renew your dues it’s time to do so now and be equipped [...]

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Galasso Learning Solutions: Second Quarter 2020 In Review

By |2020-10-07T18:38:14-04:00July 7th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, Governmental, Membership Page Controls, Regulatory|

Let’s review the standards issued and proposed by GASB, FASB and the AICPA during 2020’s second quarter. While it was a slower quarter, GASB finalized quite a few final [...]

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