View from the Dome January 10, 2025
The first regular session of the 126th South Carolina General Assembly will convene this Tuesday, January 14, at noon. The 18-week session will be the first year of a [...]
Genuine Learning Blog: FASB Proposes Changes to CECL For Private Companies
Earlier this month FASB issued an exposure draft titled, Financial Instruments—Credit Losses (Topic 326): Proposed Accounting Standards Update, Measurement of Credit Losses for Accounts Receivable and Contract Assets for Private Companies and [...]
View from the Dome December 6, 2024
The Senate and House of Representatives met this week for their organization session in preparation for the 2025 legislative session. The 126th General Assembly will convene on January 14, 2025, [...]
Genuine Learning Blog: NASBA PE
🚨 Calling All Audit & Assurance Professionals! 🚨 Private equity is shaking things up in the audit world! With more PE money flowing into firms, we’re facing big questions [...]
Genuine Learning Blog: AICPA Council
The AICPA Fall Council Meeting was one for the books! This was Barry Melancon's last council meeting as the AICPA's CEO and included a celebratory [...]
View From the Dome | November 8, 2024
Provided by Copper Dome Strategies, LLC The long-awaited election finally arrived this past Tuesday as South Carolinians set a new record for voting in the Palmetto State. 76% of [...]
Genuine Learning Blog: FASB Exposure Draft: Share-Based Consideration Payable to a Customer
The FASB has issued a proposal to clarify accounting for share based payments to customers to reduce diversity in practice. Comments are due November 14th. SCACPA is [...]
Genuine Learning Blog: 104
GASB 104 was issued in September 2024 and requires state and local governments to provide information about certain types of capital assets. Specifically lease assets reported in [...]
Genuine Learning Blog: CPA Competency Based Experience Pathway & UAA Exposure Draft
On September 12, the AICPA & NASBA issued an exposure draft on the CPA Competency-Based Experience Pathway, offering an additional pathway for CPA candidates to meet initial [...]
View From the Dome | October 18, 2024
Provided by Copper Dome Strategies, LLC State economists met to review tax revenue and discuss the state of our economy. A Senate committee met to discuss the state’s growing [...]
SCACPApalooza Backstage Preview | Playing by the Rules: Keeping HR Compliance in the Workplace
Tune in to a sneak peek of SCACPApalooza! This week, we’re turning up the volume on Kelli Long from KG Workforce. She’s ready to rock the stage with an [...]
Genuine Learning Blog: Proposed Ethics Interpretation: 529 Plans
The AICPA has proposed changes to the independence guidance for 529 plans. The original interpretations has deemed 529 plans to be direct financial interests. Due to changes [...]
Genuine Learning Blog: Financial Data Transparency Act Joint Data Standards
The proposed joint data standards for the Financial Data Transparency Act (FDTA) were issued in August 2024. The public is invited to make comments on the proposed [...]
View From the Dome | October 4, 2024
Provided by Copper Dome Strategies, LLC It has been a trying and heartbreaking week in South Carolina and across the region following the arrival of Hurricane Helene last Friday, [...]
Genuine Learning Blog: The Risk of Access Agreements to EBP Audits
In July 2024, the Employee Benefit Plan Audit Quality Center (EBPAQC) Executive Committee issued an important letter warning auditors conducting ERISA employee benefit plan audits about the [...]
Genuine Learning Blog: NPAG Releases Data-Driven Strategies
This past July, the AICPA's National Pipeline Advisory Group (NPAG) related its Accounting Talent Strategy Report to address the accounting talent shortage. This report was based off of [...]
An Important Reminder and Exciting Legislative Update from DEW
Submitted by: SCDEW This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Employers who hire a Third-Party Administrator (TPA) to communicate [...]
Get Tax Policy Updates from the SCDOR
The best way for tax professionals to receive new guidance from the South Carolina Department of Revenue’s Policy Division is to sign up for tax policy updates. Get new and [...]
Creating a Culture that Resists the Recruiter Call
Author: David R. Peters, CPA, CFP, CLU, CPCU This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Lately, I cannot go a day without [...]
South Carolina Tax Landscape: 2024 Update and Beyond
Author: J William Strickland, MBA, JD This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report As we navigate through 2024, South Carolina’s tax landscape [...]
Getting Started with Generative AI: Conquering Blank Page Syndrome
Author: Liz Peuster, CAE This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report The ongoing impact of generative AI cannot be understated. This technology [...]
Occupational Fraud Trends
Author: Jaclyn Veno, CPA This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Occupational fraud poses a significant risk to organizations of all sizes [...]
Being a Transformational Organization
Author: Doug Van Dyke, CEO, Leadership Simplified This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Recently, I had the pleasure of speaking at [...]
SCDOR Tips For Reporting Your Clients’ Tax Free Weekend Sales
Submitted by: SCDOR This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Whether you are looking forward to cooler weather or looking back on [...]
Genuine Learning Blog: Derivative Scope Exception
GLS is celebrating their 300th blog! This one is a very exciting one! The FASB has issued a proposed ASU, DERIVATIVES SCOPE REFINEMENTS AND SCOPE CLARIFICATION FOR [...]
Genuine Learning Blog: SSAE 23
This past June, the AICPA has issued SSAE No. 23, Amendments to the Attestation Standards for Consistency With the Issuance of AICPA Standards on Quality Management. SSAE [...]
Genuine Learning Blog: Working Draft of Chapters 8 and 9 of Valuation of Privately-Held-Company Equity Securities Issued as Compensation Guide
The AICPA's Financial Reporting Executive Committee has issued an early working draft of chapter 8, "Inferring Value From Transactions in a Private Company's Securities," and chapter 9, [...]
IRS Announces Relief for Areas Hit by Hurricane Debby
The Internal Revenue Service today announced tax relief for individuals and businesses in four states affected by Hurricane Debby. Affected taxpayers in South Carolina, North Carolina, Florida and Georgia [...]
Genuine Learning Blog: Proposed Changes to the Green Book
The GAO has issued proposed changes to the Standards for Internal Control in the Federal Government (the Green Book) which were last updated in 2014. The proposal [...]
SCACPA Educational Fund Awards $88,000 in Scholarships to Aspiring CPAs
SCACPA continues its steadfast commitment to fostering the next generation of Certified Public Accountants. In alignment with its objective to propel promising students into the CPA profession, the SCACPA [...]