View from the Dome January 10, 2025
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 [...]
Genuine Learning Blog: 2024 Year in Review
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 [...]
Genuine Learning Blog: ASU 2024-04
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 [...]
Genuine Learning Blog: GASB Infrastructure Assets – Preliminary Views
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 [...]
Genuine Learning Blog: FASBs New Proposal on VIE Acquirers
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 [...]
Genuine Learning Blog: FASB Proposes Changes to CECL For Private Companies
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 [...]
View from the Dome December 6, 2024
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, [...]
Genuine Learning Blog: Proposed Standards for Accounting & Review Services
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 [...]
Genuine Learning Blog: NASBA PE
🚨 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 [...]
Genuine Learning Blog: AICPA Council
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 [...]
View From the Dome | November 8, 2024
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 [...]
Genuine Learning Blog: FASB Exposure Draft: Share-Based Consideration Payable to a Customer
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 [...]
Genuine Learning Blog: 104
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 [...]
Genuine Learning Blog: CPA Competency Based Experience Pathway & UAA Exposure Draft
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 [...]
Genuine Learning Blog: FASB Proposed Changes to Hedge Accounting
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 [...]
View From the Dome | October 18, 2024
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 [...]
Genuine Learning Blog: Proposed Ethics Interpretation: 529 Plans
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 [...]
Genuine Learning Blog: Financial Data Transparency Act Joint Data Standards
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 [...]
View From the Dome | October 4, 2024
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, [...]
Genuine Learning Blog: The Risk of Access Agreements to EBP Audits
In July 2024, the Employee Benefit Plan Audit Quality Center (EBPAQC) Executive Committee issued an important letter warning auditors conducting ERISA employee benefit plan audits about the [...]
Genuine Learning Blog: NPAG Releases Data-Driven Strategies
This past July, the AICPA's National Pipeline Advisory Group (NPAG) related its Accounting Talent Strategy Report to address the accounting talent shortage. This report was based off of [...]
An Important Reminder and Exciting Legislative Update from DEW
Submitted by: SCDEW This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Employers who hire a Third-Party Administrator (TPA) to communicate [...]
Creating a Culture that Resists the Recruiter Call
Author: David R. Peters, CPA, CFP, CLU, CPCU This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Lately, I cannot go a day without [...]
Getting Started with Generative AI: Conquering Blank Page Syndrome
Author: Liz Peuster, CAE This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report The ongoing impact of generative AI cannot be understated. This technology [...]
Occupational Fraud Trends
Author: Jaclyn Veno, CPA This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Occupational fraud poses a significant risk to organizations of all sizes [...]
Being a Transformational Organization
Author: Doug Van Dyke, CEO, Leadership Simplified This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Recently, I had the pleasure of speaking at [...]
SCDOR Tips For Reporting Your Clients’ Tax Free Weekend Sales
Submitted by: SCDOR This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Whether you are looking forward to cooler weather or looking back on [...]
Genuine Learning Blog: Derivative Scope Exception
GLS is celebrating their 300th blog! This one is a very exciting one! The FASB has issued a proposed ASU, DERIVATIVES SCOPE REFINEMENTS AND SCOPE CLARIFICATION FOR [...]
Genuine Learning Blog: Detecting Government Fraud
The AICPA's Government Performance and Accountability Committee issued the Detecting Government Fraud report in June 2024. The report highlights 4 cases of government fraud with what controls could [...]
Genuine Learning Blog: SSAE 23
This past June, the AICPA has issued SSAE No. 23, Amendments to the Attestation Standards for Consistency With the Issuance of AICPA Standards on Quality Management. SSAE [...]