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 [...]
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 [...]
The South Carolina Department of Revenue on Thursday, Aug. 26, released SC Information Letter #20-24, which extends until Dec. 31, 2020, temporary tax relief to employers with workers temporarily [...]
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 provide [...]
By Copper Dome Strategies Friday, Aug. 21, 2020 The Senate announced plans to return to session in September. Among the considerations are changes to state election laws that could allow [...]
SCACPA and the AICPA are offering resource concerning the recent Executive Action on Payroll Tax Deferral. The executive action has raised many questions, and specific guidance and clarity are [...]
A quality tax practice begins with respect for the standards, and SCACPA is presenting a day of six total hours of livestream ethics training on Wednesday, Sept. 16. Start [...]
By Copper Dome Strategies Friday, Aug. 14, 2020 Plans are finalized for public schools to begin opening starting next week. The Senate Re-Open SC Committee met again. Democrats flipped a [...]
Summer time means SCACPA Scholarship time, and for 2020 we are excited that our Educational Fund Trustees awarded $64,500 to 43 exceptional students who plan to pursue careers in [...]
The S.C. Department of Employment and Workforce released a statement on Monday, Aug. 10, to remind employers and workers that abusing federal relief funding such as Paycheck Protection Program [...]
Registration is open for the 2020 Carolina Planned Giving Conference, presented by the North Carolina and South Carolina Planned Giving Councils. SCACPA is excited to be a co-sponsor of [...]
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 provide [...]
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 [...]
By Copper Dome Strategies Friday, Aug. 7, 2020 All remaining businesses that closed as the Coronavirus began spreading across South Carolina began to reopen this week. Legislative committees met to [...]
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 [...]
School supplies, clothes and computers are among the items that can be purchased free of sales tax during South Carolina’s annual 72-hour Sales Tax Holiday from Friday, Aug. 7 through [...]
More South Carolina taxpayers filed their Individual Income Tax returns on time this year, with more taxpayers choosing electronic filing options, according to preliminary figures from the South Carolina [...]
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 across [...]
THIS WEEK: Did you renew your All-Inclusive Membership for 2020-21? This is your last chance to avoid the $25 late fee that takes effect on August 1. Visit www.scacpa.org/dues [...]
