Auditing & Accounting

Online Tools & Resources Await: Starting with SCACPA Connect

By |2020-09-21T19:03:35-04:00September 21st, 2020|Auditing & Accounting, Blogs, Business & Industry, Connect, Governmental, Membership, Membership Page Controls, Tax|

As a CPA, you know a lot. But, in today’s changing environment, there are a lot of subjects where you probably have a fair share of questions. That’s why [...]

Galasso Learning Solutions: Lease Accounting & CCRCs (New TQA)

By |2020-09-17T17:57:45-04:00September 17th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

The AICPA has issued a Technical Q&A titled “Accounting for Lease Components in Type A Life Care Contracts by Continuing Care Retirement Communities.” Issued in August, the TQA addresses common [...]

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SCACPA Commends BOA for Addressing Modification of Livestream CPE Rules and Hardship Requests (Updated Sept. 11)

By |2020-09-14T12:57:41-04:00September 14th, 2020|Advocate, Auditing & Accounting, Blogs, Business & Industry, COVID-19, Featured, Governmental, Legislative/Advocacy, Membership, Membership Page Controls, Public Relations, Regulatory, Tax, Technology, Why CPA|

UPDATE: The South Carolina Board of Accountancy has released its announcement on this development. It is re-printed at the bottom of this post. The BOA's announcement includes a reminder [...]

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Galasso Learning Solutions: Virtual Currency – New Practice Aid

By |2020-09-10T21:18:12-04:00September 10th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Public Relations, Regulatory, Technology|

Cryptocurrency is becoming a more recognized transaction with more entities participating in this ecosystem. The AICPA has issued nonauthoritative guidance on accounting and auditing digital assets. FASB does not have [...]

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Galasso Learning Solutions: Proposed Changes to Risk Assessment Standards

By |2020-09-10T21:13:55-04:00September 10th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

The AICPA has issued a proposed SAS to clarify and improve the risk assessment standards. For the past few years, the AICPA has focused its audit quality initiatives on [...]

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Galasso Learning Solutions: Materiality Considerations for Attestation Engagements

By |2020-08-27T16:47:17-04:00August 27th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Legislative/Advocacy, Membership Page Controls, Regulatory|

The AICPA has issued nonauthoritative guidance from its Materiality Working Group of the Assurance Services Executive Committee (ASEC), designed to assist practitioners in determining when there is a material misstatement [...]

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Galasso Learning Solutions: ASU 2020-06

By |2020-08-27T16:34:03-04:00August 27th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

ASU 2020-06 is designed to reduce complexity and improve comparability for convertible instruments and contracts in an entity’s own equity. Issued: August 2020 What questions do you have? Send your [...]

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Galasso Learning Solutions: Proposed Concept Statement – Elements

By |2020-08-07T15:45:25-04:00August 7th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

FASB has issued a proposed Concept Statement addressing the definition of elements of financial statements. The 10 key elements (assets, liabilities, equity etc.) are getting an update to better define [...]

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Galasso Learning Solutions: GASB’s Proposed Changes to the Financial Reporting Model

By |2020-08-07T15:28:31-04:00August 7th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

GASB has proposed its Exposure Draft that would improve the financial reporting model. The proposal includes changes to MD&A, extraordinary items, presentation of proprietary funds and implements the short-term financial [...]

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

By |2020-07-24T12:35:34-04:00July 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 |2020-07-23T19:06:52-04:00July 23rd, 2020|Auditing & Accounting, Blogs, Educate, Featured, 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 date [...]

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Galasso Learning Solutions: SAS 142

By |2020-07-23T18:58:21-04:00July 23rd, 2020|Auditing & Accounting, Blogs, Educate, Featured, 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 melisa@galassolearningsolutions.com [...]

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

By |2020-07-17T15:16:09-04:00July 17th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, Featured, 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 develop [...]

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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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Galasso Learning Solutions: Recognition of Elements of Financial Statements

By |2020-07-13T11:36:07-04:00July 13th, 2020|Auditing & Accounting, Blogs, Educate, Featured, 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 concepts [...]

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Galasso Learning Solutions: Second Quarter 2020 In Review

By |2020-07-07T12:56:10-04:00July 7th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, Featured, 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 standards. [...]

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All Through June, SCACPA Has More Than 65 Hours of Livestream CPE for B&I, Government, Nonprofit, Ethics and More

By |2020-06-26T12:21:20-04:00June 27th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership, Membership Page Controls, Partners, Regulatory, Tax, Technology|

Note: For your convenience, you can download a PDF with SCACPA's entire month of June CPE itinerary, complete with course information and links to register for the courses here. [...]

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Galasso Learning Solutions: OMB Allows Some Coronavirus-Related Flexibilities to Expire

By |2020-06-26T11:49:53-04:00June 26th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, Featured, Governmental, Legislative/Advocacy, Membership Page Controls|

The Office of Management and Budget has issued an updated memo addressing coronavirus-related flexibilities provided under prior OMB Memos. Many of the flexibilities offered in the earlier memos have been [...]

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