The GASB recently released an exposure draft for the 2025 Implementation Guidance Update. This guidance includes Q&As that address inquiries about previously issued statements and to help [...]
The new legislative session kicked off on Tuesday, January 14, marking the beginning of South Carolina's two-year legislative cycle. This first year sets the stage for critical discussions and [...]
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 [...]
The number of issued standards likely hit one of the lowest points in history! This blog will review the accounting, auditing and ethics standards issued by the [...]
Introducing our latest GLS nano training on ASU 2024-04: Induced Conversions of Convertible Debt Instruments! Learn what changes this new guidance brings! Including: 🧩 Clarity on the [...]
Beneficial Ownership Information reporting continues to take center stage in the Fifth Circuit Court. Last night, the Court vacated the motion to stay the injunction. According to a communication [...]
GASB has issued its Preliminary Views on the accounting and financial reporting for infrastructure assets and is looking for your comments on the issues. Watch this week's genuine [...]
Who's Really In Charge? Dive into our latest Genuine Learning Blog video where we unpack the Proposed Accounting Standards Update on Business Combinations (Topic 805) and Consolidation (Topic [...]
Recent litigation has temporarily halted compliance with the Corporate Transparency Act (CTA), introducing new complexities for CPAs advising clients on Beneficial Ownership Information (BOI) reporting. On December 3, 2024, [...]
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 [...]
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, [...]
On September 23, 2024 the AICPA's Accounting & Review Services Committee proposed SSARS Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting [...]
Renewals for your Certified Public Accounting or Accounting Practitioner license with the South Carolina Board of Accountancy for 2025 are now open. Information to renew your license online was [...]
🚨 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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Updated on October 31, 2024 We are pleased to share that the Treasury's Financial Crimes Enforcement Network (FinCEN) has extended Beneficial Ownership Information (BOI) reporting deadlines for certain businesses [...]
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 [...]
A Blog to Keep You On the HEDGE OF YOUR SEAT!The FASB released its Exposure Draft on Hedging Accounting in September 2024, and it's a game changer! With [...]
With the implementation of the Corporate Transparency Act (CTA), accounting firms may find themselves in a new area of service: helping clients comply with beneficial ownership reporting. As firms [...]
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 [...]
By Larry Pon, CPA, EA, USTCP, CFP, PFS, AEP The IRS has announced tax relief for individuals and businesses affected by Hurricane Helene. Here are the key details to [...]
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 [...]
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 [...]
Hurricane Helene has devastated parts of the Carolinas. While the road to recovery will be long, our community can help rebuild. As part of CPA Month of Service, we [...]
The SCDOR provided this information on October 7, 2024. The SCDOR ​​is granting relief to South Carolina taxpayers in the wake of Hurricane Helene. Several returns and payments originally due [...]
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 [...]
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, [...]