Genuine Learning Blog: TQA for New COVID19 Funds
The AICPA has issued a TQA addressing questions about how for profit and nonprofit entities account for the new restaurant revitalization and shuttered venue grants that have been received [...]
SINGLE AUDIT CONSIDERATIONS- Pandemic relief assistance makes many entities subject for the first time. Are they aware? Are they ready?
Single Audit Considerations Melisa Galasso In response to the devastating effect of the global pandemic on the US economy, Congress passed several laws (the CARES Act, CAA and ARPA) [...]
Genuine Learning Blog – GASB: Re-exposure Notes to Financial Statements
Governmental Accounting Standards Board (GASB) issued a REVISED exposure draft regarding Notes to the Financial Statements. This is in preparation for a Concept Statement that helps determine what is [...]
Genuine Learning Blog: GASB ED: Omnibus 20XX – GASB has issued a proposed Omnibus Exposure Draft.
GASB has issued a proposed Omnibus Exposure Draft. The ED addresses implementation issues for leases, PPP and SBITA as well as targeted accounting guidance. It also addresses the delay in [...]
Genuine Learning Blog: FASB’s Agenda Consultation – Have you ever wanted to influence the topics that FASB covers in its standard setting? Well, now here’s your chance.
Have you ever wanted to influence the topics that FASB covers in its standard setting? Well, now here's your chance. Today, Financial Accounting Standards Board (FASB) issued its Invitation [...]
Galasso Learning Solutions: Q2 in Review – It’s time to wrap up the second quarter of 2021.
It's time to wrap up the second quarter of 2021. The quarter was pretty slow for issuances of final standards. In this blog, we'll give an executive overview of [...]
What does the Champlain Towers condo collapse mean to SC CPAs? CPAs who audit, advise, or participate in HOAs now have much to consider.
What could the Champlain Towers condo collapse mean to SC CPAs? The moral of the tragic Champlain Towers story is that CPAs who audit, advise, or participate in HOAs [...]
Galasso Learning Solutions: CPA Evolution Curriculum Update – The AICPA and NASBA have issued information about the changes coming to the CPA exam.
The AICPA and NASBA have issued information about the changes coming to the CPA exam. They have released the new model curriculum which provides insight into the 3 [...]
Nichols’ Tax Update Podcast: Issue 21-26, Christian Group Challenges IRS on Proposed Exemption Denial, and much more!
Nichols’ Tax Update Podcast, Issue 21-26 10 Topics this week: **** IRS Will Not Acquiesce in TriNetHolding on FICA Tip Credits In an action on decision the IRS has announced [...]
Lynn Nichols Federal Tax Update – “Mark-to-Market election applied to holdings of single member LLC, not to holdings of the member” Plus 5 More Topics
Welcome to the Federal Tax Update Podcast, hosted by Lynn Nichols. This is presented as a member benefit by the South Carolina Association of CPAs. It is produced to [...]
Genuine Learning Blog: GASB ED – Accounting Changes and Error Corrections
GASB has issued an exposure draft, Accounting Changes and Error Corrections. It is an amendment of GASB Statement No. 62 and updates an area of accounting that hasn't seen much [...]
Genuine Learning Blog: Executive Order on Climate-Related Financial Risk
Spring Splash Reminder! SCACPA is offering more than 60 hours of livestream learning in May and June. There’s still time to register for Melisa Galasso’s exciting A&A sessions: The New Auditor’s Report [...]
Genuine Learning Blog: QM Proposal Comment Period Extended
Spring Splash Reminder! SCACPA is offering more than 60 hours of livestream learning in May and June. There’s still time to register for Melisa Galasso’s exciting A&A sessions: 2018 [...]
Genuine Learning Blog: IESBA Ethics Changes
Spring Splash Reminder! SCACPA is offering more than 60 hours of livestream learning in May and June. There's still time to register for Melisa Galasso's exciting A&A sessions: 2018 [...]
Dues Renewal Season is Here, And These Are Reminders About Using Your 40-Hour CPE Bank
Dues renewal time is almost here for SCACPA's 2021-22 membership year! The All-Inclusive Membership annual dues at the Fellow level remains at $799. We always take into account feedback [...]
Want to Maximize the Value of Your CPE Bank? Here’s How with Our Livestream Spring Splash Courses in June
Have you ever attended an educational conference and found that so many of the sessions you want to attend happen at the same time? This May and June, SCACPA [...]
Surgent’s On-Demand Self-Study Offers SCACPA Members the Specific CPE You Need With More than 230 Courses
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 [...]
View From the Dome (April 30, 2021): With Two Weeks Left in Legislative Session, Here are 10 Tax Bills About to be Considered by the Full SC House Ways and Means Committee
As part of SCACPA’s dedication to Advocacy on behalf of the CPA Profession, here is your weekly update of actions being taken during the 124th Legislative Session, prepared in [...]
Genuine Learning Blog: Yellow Book Technical Update
The U.S. Government Accountability Office has issued a technical update to Yellow Book. In a very rare move, GAO has made modifications to a handful of paragraphs in the [...]
Genuine Learning Blog: Renaming the Comprehensive Annual Financial Report
Note: Looking for high-quality A&A learning? SCACPA is proud to present 16 credits of A&A on June 22-23 as part of more than 60 hours of education at this [...]
Genuine Learning Blog: IFR4NPO (International Financial Reporting For Non Profit Organisations)
Today’s blog looks at a movement to develop internationally applicable financial reporting guidance for nonprofit organizations. IFR4NPO (International Financial Reporting For Non Profit Organisations) has issued a consultation. The blog [...]
Genuine Learning Blog: Q1 2021 in Review
The first quarter of 2021 is a wrap, and it was a light quarter for standard setting. However, given everything else we have going on, that's probably not a [...]
Genuine Learning Blog: Third-Party Assessments
The AICPA has issued a Technical Q&A to address common questions regarding what qualifies as a third-party assessment and which standards including independence should be applied by the third [...]
Genuine Learning Blog: Proposed NOCLAR Ethics Interpretation
The AICPA's Professional Ethics Executive Committee (PEEC) has issued an updated proposal around reporting noncompliance with laws and regulations (NOCLAR). Originally issued in 2017, PEEC has been trying to converge [...]
Genuine Learning Blog: Proposed NOCLAR SAS
The AICPA has issued a very narrow proposal to add a new requirement for successor auditors to discuss suspected fraud and NOCLAR with predecessor auditors if granted permission by [...]
Galasso Learning Solutions: Quality Management Proposal (Part 3)
This is the final installment in our QM series that addresses the proposed audit standard. The audit standard assists the engagement team to understand their responsibilities in applying the [...]
Galasso Learning Solutions: Quality Management Proposal (Part 2)
This week, we continue our discussion of the AICPA's proposed changes to Quality Management. SQMS 2 addresses the role and responsibilities of the engagement quality reviewer. We will look [...]
Galasso Learning Solutions: Quality Management Proposal (Part 1)
The AICPA has issued three new proposals related to quality management. The new SQM Standards will replace the extant quality control (SQCS) and provide a more scalable and risk-based QM [...]
Online Tools & Resources Await: Starting with Connect by SCACPA
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 [...]
For Second Year in a Row, Forbes Names Bauknight Pietras & Stormer Among Top U.S. Tax and Accounting Firms
Forbes has named Columbia-based CPA firm Bauknight Pietras & Stormer to its annual “Top Accounting Firms in America” list for the second year in a row. BPS was honored [...]