FASB has issued a proposed Auditing Standards Update titled “Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets.” Gifts in kind have received a lot of attention for [...]
The AICPA has issued a Statement of Position to address when a practitioner reports under the new 2020 GIPS standards. As the standards were updated, effective Jan. 1, 2020, [...]
By Copper Dome Strategies Friday, Feb. 7, 2020 The General Assembly held a Joint Session on Wednesday to elect judges and several college trustees. The Senate is in the fourth [...]
The Office of Management and Budget (OMB) has proposed changes to the Uniform Guidance (2 CFR, Part 200). The proposal takes into consideration the President’s Management Agenda, alignment with statutory [...]
The South Carolina Association of CPAs is proud to produce its annual “Tax Guide for Legislators,” which assists our representatives with their unique income tax implications of being a [...]
2019 was a year of change! FASB issued 12 ASUs. The AICPA issued five SASes and two SSAEs, plus a variety of technical updates. GASB issued a GASB Statement and [...]
Happy New Year AND New Decade (although we know some of you will debate the “new decade” fact!). We are kicking off our first video blog of 2020 with changes [...]
Kenneth H. Bauknight, CPA, Founder & Shareholder at Bauknight Pietras & Stormer CPAs, has been recognized by Columbia Business Monthly as one of 2019’s 50 Most Influential People in [...]
The long-awaited SECURE Act is a new tax law that was passed on Dec. 20, 2019. Part of a larger appropriations bill, it is being considered the most significant [...]
There are only so many days left in December until the clock strikes midnight on 2019. Maybe in the end-of-year rush, you still need a few final CPE credits [...]
CPA firm Bauknight Pietras & Stormer, P.A., has been recognized by global media company Forbes as being among America’s top recommended tax and accounting firms. Of the 227 firms named [...]
The following is a message to SCACPA Members from the State Treasurer’s Office: The State Treasurer’s Office recognizes the important role that South Carolina CPAs play in educating their [...]
SCACPA is proud to announce an agreement with David R. Peters, CPA, to be the Association’s advisor and speaker on Business and Industry topics. Look for David to be an [...]
Melisa Galasso, CPA, has prepared two videos that address Accounting Standards Updates that were issued by FASB in November. This first video covers ASU 2019-08—Compensation—Stock Compensation (Topic 718) and Revenue [...]
The AICPA's Professional Ethics Executive Committee (PEEC) is asking for feedback on future standard setting items. They have identified potential issues and practice areas where either updated standards are needed [...]
The South Carolina Association of CPAs would like to alert its members that the South Carolina Department of Labor, Licensing and Regulation has begun issuing courtesy notice email alerts [...]
FASB has issued a proposal addressing implementation issues for its new hedge accounting rule. This technical correction addresses issues related to documentation, dual hedges and provides clarifications that forecasted transaction [...]
The South Carolina Department of Revenue has released a 13-page advisory opinion in connection with Act No. 83, enacted May 22, 2019, which substantially increased the job tax credit amount [...]
The South Carolina Department of Revenue has released an 18-page advisory opinion to update the Department of Revenue’s internal appeals process for tax matters. The primary change is to [...]
The South Carolina Department of Revenue is changing the process for amending South Carolina Individual Income Tax Returns in 2020. Beginning with tax year 2019, you will use the SC1040 [...]
