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. The commentary is brief, [...]
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 [...]
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 [...]
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 is [...]
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 [...]
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, [...]
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 [...]
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 [...]
By Copper Dome Strategies Friday, June 26, 2020 The General Assembly returned to Columbia and adopted a plan to appropriate the federal CARES Act funds. Results have been tabulated [...]
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 [...]
Longtime SCACPA members know that a regular feature of the Association’s quarterly magazine is “How I Work.” In every issue of South Carolina CPA Report, we strive to showcase [...]
By Copper Dome Strategies Friday, June 19, 2020 The Senate Finance Committee met and adopted a plan to appropriate the federal CARES Act funds. House and Senate committees met to [...]
We can understand if you feel overwhelmed by the rapid rate of adjustments and delays to standards over the past few months. That’s why SCACPA thanks Galasso Learning Solutions [...]
GASB has issued an exposure draft, “Accounting and Financial Reporting Issues Related to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) of 2020 and Coronavirus Diseases,” to [...]
By Copper Dome Strategies Friday, June 12, 2020 Primary elections occurred this past Tuesday. Gov. Henry McMaster provided his recommendations to the General Assembly this week for the expenditure [...]
Amendment to the Effective Date of SAS Nos. 134 Through 140. Issued in May 2020, but it did not go through the Exposure Draft process. What questions do you [...]
Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities Issued June 2020 What questions do you have? Send your questions to melisa@galassolearningsolutions.com [...]
President Donald Trump on Friday signed the “Paycheck Protection Program Flexibility Act of 2020,” after the Senate had late Wednesday night passed the House bill that creates more flexibility [...]
By Copper Dome Strategies Friday, June 5, 2020 Several legislative committees met this past week to discuss actions needed to assist in the economic recovery. Both the House and [...]
The South Carolina Board of Accountancy has granted exam credit extensions until December 31, 2020, to all SC CPA Exam candidates who have exam credits expiring from April 1 [...]
GAO has issued an alert addressing COVID and Yellow Book CPE requirements. These adjustments and grace periods are intended to be responsive to the cancellations of many CPE events [...]
By Copper Dome Strategies Friday, May 29, 2020 Gov. Henry McMaster issued a new Executive Order on Wednesday extending the State of Emergency for an additional 15 days as South [...]
Note: On June 6, the ‘Paycheck Protection Program Flexibility Act of 2020’ was enacted, which gives more flexibility to borrowers. Learn more here. A PPP Loan Forgiveness calculator is [...]
By Copper Dome Strategies Friday, May 22, 2020 Gov Henry McMaster signed into law a Continuing Resolution to keep the state's government operating. The governor also issued a new [...]
Takeaways from ‘Workplace Safety Reopening Guide for SC Employers’ Legal Webinar The S.C. Chamber of Commerce hosted a webinar Thursday for employers on how to safely begin reopening businesses. [...]
No matter where you logged in from, thank you to all SCACPA members and presenters who banded together to turn the May 14-15 Virtual Spring Splash into a CPE success [...]
FASB voted to delay both revenue recognition and leases for private entities at its May 20, 2020, meeting. The original proposal was for a delay for private company franchisors [...]
As you transition to virtual meeting environments, take stock of that data to re-imagine how you measure your firm – and the client experience By Chris Hervochon, CPA, CVA [...]
We wanted to alert you to these updates on decisions about delays from the AICPA’s Professional Ethics Executive Committee and Peer Review Board. PEEC Delays and Exposure Draft The [...]
SCACPA Board Chair Zoe Davis, CPA, and the entire Board of Directors invite all Association members to attend SCACPA’s Virtual Annual Member Meeting (MEABMLI), which will be held via [...]