Genuine Learning Blog: Q3 2022 in Review
Quarter 3 of 2022 is in the books. We'll review the accounting and auditing (and ethics) standards issued by standard setters this quarter. What would you like to see [...]
Accountable Podcast: New Business Considerations
This week on Accountable, New Business Considerations Starting a new business is overwhelming! There are so many things to think about! Where and how do we get clients? Do [...]
Disaster Relief: Updates Regarding Hurricane Ian
Updated 10/10/2022 We just received news from the SC Department of Revenue regarding its response to Hurricane Ian. This announcement aligns the deadline extensions the IRS announced last week [...]
Genuine Learning Blog – GAO: Government Efficiency and Effectiveness Report
GAO has issued their annual report about ways the federal government can reduce inefficiencies and redundancy across a wide variety of programs and departments. The report gives a status [...]
Genuine Learning Blog: ASU 2022-03
The FASB has issued ASU 2022-03 which is a niche standard providing clarification around restrictions on sale and their impact on the determination of fair value. The standards also [...]
Genuine Learning Blog: SAS 148
SAS 148 updates AU-C 935 for recent changes in SASes 142 and 145 which made the appendix out of date. AU-C 935 is used for Compliance Audits and helps [...]
Genuine Learning Blog: 2022 FASB Investor Outreach Report
The FASB has issued their 2022 Investor Outreach Report detailing their interactions with investors throughout the 7/1/21 - 6/30/22 period. It provides details on the advisory groups with investors [...]
Accountable Podcast: Why do I need cyber liability insurance?
This week on Accountable, Why do I need cyber liability insurance? We all hear things in the news about cybercrimes and the devastating effects that they have on companies, [...]
Genuine Learning Blog: Revised Statements on Standards for Tax Services Proposal
The AICPA's Tax Executive Committee has proposed changes to the Statements of Standards for Tax Services (SSTSs). The proposal has two parts. Part 1 is an Exposure Draft of [...]
Auditors: AICPA GAQC Needs Your Feedback
The AICPA Government Audit Quality Center needs your feedback. Due to the historic amount of federal pandemic funding, the AICPA Government Audit Quality Center (GAQC) is gathering auditor feedback [...]
Accountable Blog: Why Do We Do CPE?
Submitted By David Peters, CPA, CFP, CLU, CPCU Visit Accountable: Blog for CFOs “I am just trying to get my credits in.” I have heard these words uttered by [...]
Genuine Learning Blog: Investments in Tax Credit Structures
FASB has issued a niche proposal to expand the use of the proportional amortization method to more types of income tax credit structures so long as certain conditions are [...]
Accountable Podcast: Form 8300 Reporting
This week on Accountable, Form 8300 Reporting In addition to being a SCACPA advisor on B&I topics, David Peters is an acclaimed and in-demand educator about the financial industry. [...]
Genuine Learning Blog: 2021 FASB Agenda Consultation Report
The FASB has issued their 2021 Agenda Consultation Report to provide an update on how the feedback received from their ITC last year influenced the current standard setting agenda. [...]
From SCDOR: Help Your Agribusiness Clients with These Tax Tips & RemindersÂ
Submitted by the South Carolina Department of Revenue More than 240,000 employees work in the state’s agribusiness industry, which includes 25,000 farms as well as food producers and timber-related [...]
Accountable Blog: Navigating New Business Owner Client Meetings
Submitted By David Peters, CPA, CFP, CLU, CPCU Visit Accountable: Blog for CFOs  I have been dealing with startup company issues for seemingly my entire career. I was [...]
Genuine Learning Blog: Celebrating National Nonprofit Day
Galasso Learning Solutions was pleased to celebrate National Nonprofit Day and the official launch of Money Matters for Nonprofits with alumni from recent graduating classes of the Arts & [...]
Genuine Learning Blog – GASB ED: Certain Risk Disclosures
The GASB has issued a proposal around disclosures related to certain risks. The proposal provides disclosure requirements for certain concentrations and constraints. Comments are due September 30, 2022. GASB [...]
Genuine Learning Blog – ESG Merger Completed
This week marked a major consolidation in the ESG standard setting arena. The IFRS Foundation completed its consolidation of the Value Reporting Foundation (VRF). The IFRS Foundation is the [...]
SCACPA Announces Collaboration with Oliver Gospel Mission
The Oliver Gospel Mission in Columbia helps those experiencing homelessness, poverty, or addiction. Its vision is to guide those in need from separation to transformation. The organization works with [...]
Finding the Right DEI Implementation is Critical to Future Success
From The Center for Accounting Transformation Research shows organizations that embrace all differences come out ahead on every level. To deepen our understanding of DEI journeys of accounting professionals, [...]
From SCDOR: State’s Top Delinquent Taxpayers paid $8.5M to State in 2021
Submitted by the South Carolina Department of Revenue Hundreds of South Carolina’s top delinquent taxpayers paid the state more than $8.5 million in 2021 after their debts were published [...]
Genuine Learning Blog- Proposed ASU: Transition for Sold Contracts (Long Duration Contracts)
The FASB has issued a proposal to address transition for insurance entities in applying ASU 2018-12. The proposal addresses the requirements to apply the new standard to contracts that [...]
Genuine Learning Blog – AICPA Proposes Changes to CPA Exam Blueprint
The AICPA has provided more details about the upcoming transition for the CPA exam which is scheduled for January 2024. The new blueprint provides details on the types of [...]
Genuine Learning Blog – Q2 2022 In Review
The second quarter of 2022 is behind us and it was a very busy one for standard setters. The AICPA issued their suite of standards related to quality control. [...]
Exposure Draft: Proposed 2024 CPA Exam ChangesÂ
The Exposure Draft, Maintaining the Relevance of the Uniform CPA Examination® - Aligning the Exam with the CPA Evolution Licensure Model, is available for public comment. The draft is [...]
From SCDOR: Is Your Client’s Hobby a Business? Tips to Help You Find Out
Submitted by the South Carolina Department of Revenue Even before the pandemic, a majority of U.S. households had a hobby that involved making a product, from artwork and furniture [...]
From SC BOA: Ethics CPE Requirement for 2022 Calendar Year
The following was sent to all SC CPA Licensees from the South Carolina Board of Accountancy on July 1, 2022. The Board may be contacted at Contact.Accountancy@llr.sc.gov. To support [...]
Genuine Learning Blog – PEEC Conforming Amendments
The AICPA's Professional Ethics Executive Committee (PEEC) has proposed changes to a few interpretations to align the verbiage around ownership with previously issued interpretations related to loans. The proposed [...]
SCDOR: Help Your Clients Plan for Tax Free Weekend
Submitted by the South Carolina Department of Revenue South Carolina’s 2022 Tax Free Weekend is August 5-7, and the South Carolina Department of Revenue (SCDOR) wants to help retailers [...]