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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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, [...]
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 [...]
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 [...]
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 [...]
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 [...]
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, [...]
