In a recent announcement, the South Carolina Department of Revenue (SCDOR) has informed taxpayers and tax professionals, including CPAs, about a significant change in their refund disbursement process. Effective [...]
On Friday May 19, the Office of Management & Budget issued the 2023 Compliance Supplement. This blog will review the largest changes of the various parts of [...]
Last year, the passage of S.812 significantly updated the Accounting Practice Act. Almost as soon as the ink dried on the bill, task forces began drafting revisions to the [...]
The AICPA issued the 4th version of their plans to improve the pipeline of accounting professionals. The AICPA provides some examples of what is causing the issues [...]
The FASB has issued a proposal to provide guidance for companies (both public and private) to reduce diversity in practice around accounting for profits interests. The proposal includes [...]
In an Executive Order issued today, South Carolina Governor Henry McMaster announced the appointment of Brian J. Gaines as the new Comptroller General of the State of South Carolina. [...]
By Jaclyn Veno, CPA, Galasso Learning Solutions This article appears in the Spring 2023 issue of the South Carolina CPA Report For more than a decade, leases have been a [...]
NASBA announced that they have extended the time to sit and pass the CPA exam from 18 months to 30 months after receiving over 850 comment letters. [...]
The South Carolina Department of Revenue (SCDOR) has launched an enhanced online Business Tax Application to simplify the registration process for new businesses in the state. The updated application [...]
COSO has issued a nonauthoritative report on how organizations can leverage the 17 principles and 81 points of focus in COSO 2013 to sustainability reporting. The report [...]
On March 15, 2023, the AICPA’s Professional Ethics Executive Committee (PEEC) issued an exposure draft relating to fees. The exposure draft includes new interpretations for determining fees [...]
The FASB has issued an exposure draft regarding new disclosure requirements relating to income taxes. In addition to new disclosures, the proposal also includes removal of existing [...]
Q1 2023 started off slow but ended with a burst of activity. We'll review the standards issued by the AICPA and FASB in the first quarter of [...]
FASB has issued ASU 2023-02 which expands the use of the proportional amortization method beyond LIHTC structures so long as the investment meets certain conditions. They also [...]
Rundown Today's episode begins with Hotshot explaining his Starbucks run on the way to the Levy house because he forgot his own and how much money he spends there [...]
The FASB issued ASU 2023-01 in response to feedback from private companies around the consideration of legal enforceability when leases were between entities under common control. It [...]
The AICPA's Professional Ethics Executive Committee (PEEC) has issued an exposure draft to make falsifying attendance records or sharing answers (when not permitted) in CPE an act [...]
The Financial Accounting Standards Board (FASB) has issued an exposure draft to address feedback from users, preparers and auditors that crypto currency disclosures needed attention. The proposal [...]
James Goodwillie, Co-Owner of Brightleaf Mortgage LLC, sits down with Dave to talk about his experience building a company from the ground up and what you should do if [...]
The AICPA has issued SAS 149, Special Considerations — Audits of Group Financial Statements (Including the Work of Component Auditors and Audits of Referred-to Auditors), which supersedes [...]
The OMB provided notice of Request for Information (RFI) and notification of proposed guidance to 2 CFR. The OMB, through the RFI and the proposed rule revisions, [...]
At the beginning of 2023, the AICPA released a draft of an 8-point plan to address the challenges facing the CPA Pipeline. The SCACPA Board of Directors reviewed this plan [...]
This week on Accountable, Virtual Currency Are you curious about the origins of Virtual Currency or maybe concerned about how it's doing lately? In this episode of Accountable, Jerry [...]
The following email was sent from the South Carolina Department of Labor, Licensing and Regulation on December 3, 2022. Questions regarding this renewal process and your CPA license may [...]
When it comes to financial services, employees are the face of the business. While many people probably have the technical skill set to do the work, the relationships that [...]
South Carolina Startups Could Save an Extra $250,000 Per Year, up to $2.5MM Submitted by Margaret Krajcer JD, Vice President and General Counsel of Tax Credits Group On August [...]
Prepared by Copper Dome Strategies First election under new state law that allowed for early voting A newly enacted voting law allowed for 12 days of early, in person [...]
This week on Accountable, Biz Development and Marketing Considerations Starting a new business is overwhelming! There are so many things to think about! In the last episode of Accountable, [...]
The National Association of State Boards of Accountancy has announced tentative key dates regarding the implementation of the CPA Evolution initiative and the changes it will have on the [...]
Originally posted on David's Accountable Blog It has often been said that you never get a second chance to make a first impression. While no one is quite sure [...]