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Galasso Learning Solutions: Lease Accounting & CCRCs (New TQA)

By |2020-09-17T17:57:45-04:00September 17th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

The AICPA has issued a Technical Q&A titled “Accounting for Lease Components in Type A Life Care Contracts by Continuing Care Retirement Communities.” Issued in August, the TQA addresses common [...]

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Lynn Nichols Federal Tax Update (Sept. 14, 2020): Couple’s Tax Debt from Lavish Lifestyle was not Dischargeable

By |2020-09-15T15:31:00-04:00September 15th, 2020|Blogs, Business & Industry, COVID-19, Educate, Featured, Membership, Membership Page Controls, Public Relations, Regulatory, Tax|

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 [...]

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Galasso Learning Solutions: Virtual Currency – New Practice Aid

By |2020-09-10T21:18:12-04:00September 10th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Public Relations, Regulatory, Technology|

Cryptocurrency is becoming a more recognized transaction with more entities participating in this ecosystem. The AICPA has issued nonauthoritative guidance on accounting and auditing digital assets. FASB does not have [...]

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Galasso Learning Solutions: Proposed Changes to Risk Assessment Standards

By |2020-09-10T21:13:55-04:00September 10th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

The AICPA has issued a proposed SAS to clarify and improve the risk assessment standards. For the past few years, the AICPA has focused its audit quality initiatives on [...]

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Lynn Nichols Federal Tax Update (Sept. 7, 2020): IRS Issues Payroll Tax Deferral Guidance

By |2020-09-08T15:23:45-04:00September 8th, 2020|Blogs, Business & Industry, COVID-19, Educate, Featured, Membership, Membership Page Controls, Public Relations, Regulatory, Tax, Technology|

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 [...]

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Lynn Nichols Federal Tax Update (Aug. 31, 2020): Owner-Employee PPP Loan Forgiveness

By |2020-08-31T13:36:43-04:00August 31st, 2020|Blogs, COVID-19, Educate, Featured, Governmental, Membership Page Controls, Regulatory, Tax|

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 [...]

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Galasso Learning Solutions: Materiality Considerations for Attestation Engagements

By |2020-08-27T16:47:17-04:00August 27th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Legislative/Advocacy, Membership Page Controls, Regulatory|

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 [...]

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Galasso Learning Solutions: ASU 2020-06

By |2020-08-27T16:34:03-04:00August 27th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

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 [...]

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Lynn Nichols Federal Tax Update (Aug. 24): Vacation Property Rentals and IRC Sec. 469

By |2020-08-26T01:02:12-04:00August 26th, 2020|Educate, Featured, Governmental, Membership Page Controls, Public Relations, Regulatory, Tax, Technology|

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 [...]

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You Can Earn Six Hours of Livestream Ethics Credits on September 16 (and Discover Some Tech Gizmos, Too!)

By |2020-08-18T20:22:05-04:00August 18th, 2020|Blogs, Educate, Featured, Membership, Membership Page Controls, Public Relations, Technology|

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 [...]

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SCACPA is Proud to Co-Sponsor the Virtual ‘Carolinas Planned Giving Conference’ on Sept. 2-3. Register Now with Your CPE Bank!

By |2020-08-11T13:21:23-04:00August 11th, 2020|Blogs, Educate, Featured, Membership, Membership Page Controls, Public Relations, Tax, Why CPA|

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 [...]

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Lynn Nichols Federal Tax Update (Aug. 10, 2020): Recapture of Erroneous Coronavirus Credit Refunds

By |2020-08-10T21:03:19-04:00August 10th, 2020|Blogs, COVID-19, Educate, Featured, Governmental, Membership Page Controls, Regulatory, Tax, Technology|

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 [...]

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Galasso Learning Solutions: Proposed Concept Statement – Elements

By |2020-08-07T15:45:25-04:00August 7th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

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 [...]

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Galasso Learning Solutions: GASB’s Proposed Changes to the Financial Reporting Model

By |2020-08-07T15:28:31-04:00August 7th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

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 [...]

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Lynn Nichols Federal Tax Update Podcast for Aug. 3, 2020: Capital Loss vs. Ordinary Loss

By |2020-08-05T16:35:32-04:00August 3rd, 2020|Business & Industry, COVID-19, Educate, Featured, Governmental, Legislative/Advocacy, Membership Page Controls, Regulatory, Tax|

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, [...]

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NASBA Board Unanimously Approves CPA Evolution Framework

By |2020-07-28T15:15:51-04:00July 28th, 2020|Auditing & Accounting, Blogs, Educate, Featured, Legislative/Advocacy, Membership, Membership Page Controls, Public Relations, Regulatory, Technology, Why CPA|

The National Association of State Boards of Accountancy Board of Directors has announced its unanimous vote of support for the advancement of the CPA Evolution initiative that designs and [...]

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Galasso Learning Solutions: Proposed ASU – Insurance Effective Date

By |2020-07-23T19:06:52-04:00July 23rd, 2020|Auditing & Accounting, Blogs, Educate, Featured, Governmental, Membership Page Controls, Regulatory|

FASB has issued an exposure draft that would delay the effective date of ASU 2018-12, which provides updated guidance on financial reporting for long duration insurance contracts. The effective date [...]

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Galasso Learning Solutions: SAS 142

By |2020-07-23T18:58:21-04:00July 23rd, 2020|Auditing & Accounting, Blogs, Educate, Featured, Membership Page Controls, Regulatory|

Issued in July 2020, SAS 142 explains what constitutes audit evidence and sets out attributes of information when evaluating information. What questions do you have? Send your questions to melisa@galassolearningsolutions.com [...]

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Galasso Learning Solutions: GASB Preliminary Views – Revenue and Expense Recognition

By |2020-07-17T15:16:09-04:00July 17th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, Featured, Governmental, Membership Page Controls, Regulatory|

GASB has issued a preliminary views document, which is their second phase in updating revenue and expense guidance. Building on the ITC issued in 2018, the PV continues to develop [...]

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BPS CPA Kaczor to Address National Conference with Strategies to Combat COVID-19 Spike in Business Fraud

By |2020-07-13T14:16:17-04:00July 14th, 2020|Auditing & Accounting, Blogs, Business & Industry, COVID-19, Educate, Featured, Legislative/Advocacy, Membership, Membership Page Controls, Public Relations, Regulatory, Technology|

Fraudsters have been taking advantage of the new work and life routines of the pandemic and causing mayhem, according to Jessica Kaczor, CPA, CFE, of Bauknight, Pietras & Stormer, [...]

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