Galasso Learning Solutions: Proposed Concept Statement – Elements

By |2020-10-07T18:30:50-04:00August 7th, 2020|Auditing & Accounting, Blogs, Educate, 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 [...]

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

By |2020-10-07T18:31:10-04:00August 7th, 2020|Auditing & Accounting, Blogs, Educate, 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 [...]

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

By |2020-10-07T18:31:34-04:00August 3rd, 2020|Business & Industry, COVID-19, Educate, 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 |2020-10-07T18:37:32-04:00July 23rd, 2020|Auditing & Accounting, Blogs, Educate, 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 [...]

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Galasso Learning Solutions: SAS 142

By |2020-10-07T18:37:39-04:00July 23rd, 2020|Auditing & Accounting, Blogs, Educate, 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 [...]

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

By |2020-10-07T18:37:45-04:00July 17th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, 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 [...]

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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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Galasso Learning Solutions: Recognition of Elements of Financial Statements

By |2020-10-07T18:37:55-04:00July 13th, 2020|Auditing & Accounting, Blogs, Educate, Membership Page Controls, Regulatory|

GASB has proposed major changes to the concept statements for recognition. The proposal further develops the concept of the short-term financial resources measurement focus. It makes changes to these [...]

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Galasso Learning Solutions: Second Quarter 2020 In Review

By |2020-10-07T18:38:14-04:00July 7th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, Governmental, Membership Page Controls, Regulatory|

Let’s review the standards issued and proposed by GASB, FASB and the AICPA during 2020’s second quarter. While it was a slower quarter, GASB finalized quite a few final [...]

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All Through June, SCACPA Has More Than 65 Hours of Livestream CPE for B&I, Government, Nonprofit, Ethics and More

By |2020-11-05T23:25:56-05:00June 27th, 2020|Auditing & Accounting, Blogs, Educate, Membership, Membership Page Controls, Partners, Regulatory, Tax, Technology|

Note: For your convenience, you can download a PDF with SCACPA's entire month of June CPE itinerary, complete with course information and links to register for the courses here. [...]

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Galasso Learning Solutions: OMB Allows Some Coronavirus-Related Flexibilities to Expire

By |2020-10-07T18:38:41-04:00June 26th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, Governmental, Legislative/Advocacy, Membership Page Controls|

The Office of Management and Budget has issued an updated memo addressing coronavirus-related flexibilities provided under prior OMB Memos. Many of the flexibilities offered in the earlier memos have [...]

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Galasso Learning Solutions: GASB Proposes Application Guidance on CARES Act

By |2020-10-07T18:42:00-04:00June 15th, 2020|Auditing & Accounting, COVID-19, Educate, Governmental, Membership Page Controls, Regulatory|

GASB has issued an exposure draft, “Accounting and Financial Reporting Issues Related to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) of 2020 and Coronavirus Diseases,” to [...]

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Galasso Learning Solutions: SAS 141 and COVID-related delays

By |2020-10-07T18:42:29-04:00June 9th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, Membership Page Controls, Regulatory|

Amendment to the Effective Date of SAS Nos. 134 Through 140. Issued in May 2020, but it did not go through the Exposure Draft process. What questions do you [...]

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Galasso Learning Solutions: ASU 2020-05 and COVID-related delays

By |2020-10-07T18:42:40-04:00June 9th, 2020|Auditing & Accounting, Blogs, COVID-19, Educate, Membership Page Controls, Regulatory|

Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities Issued June 2020 What questions do you have? Send your questions to melisa@galassolearningsolutions.com [...]

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Galasso Learning Solutions: Revisions to the Uniform Accountancy Act’s Model Rules

By |2020-10-07T18:42:44-04:00June 9th, 2020|Auditing & Accounting, Blogs, Educate, Membership Page Controls, Regulatory|

The National Association of State Boards of Accountancy (NASBA) has proposed revisions to the Uniform Accountancy Act (UAA) Model Rules. The AICPA has already approved CPA Evolution and thus [...]

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Galasso Learning Solutions: Yellow Book CPE — COVID Update

By |2020-06-01T13:34:50-04:00June 1st, 2020|Auditing & Accounting, COVID-19, Educate, Regulatory|

GAO has issued an alert addressing COVID and Yellow Book CPE requirements. These adjustments and grace periods are intended to be responsive to the cancellations of many CPE events [...]

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Being Useful and Easy to Find: How Financial Services Firms Can Use Inbound Marketing

By |2020-05-27T20:00:12-04:00May 27th, 2020|Blogs, Business & Industry, Educate, Membership Page Controls, Public Relations, Why CPA|

By David R. Peters, CPA, CFP, CLU, CPCU | SCACPA Member Since 2016 I take pride in my quick trigger finger for making unwanted advertising disappear. Every morning starts with [...]

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Thanks to All Virtual Spring Splash Attendees for Creating a CPE Success Story! Our Speakers Learned a Lot Along the Way, Too

By |2020-05-28T16:44:59-04:00May 21st, 2020|Auditing & Accounting, Blogs, Business & Industry, COVID-19, Educate, Featured, Governmental, Membership, Membership Page Controls, Public Relations, Regulatory, Tax, Technology, Why CPA|

No matter where you logged in from, thank you to all SCACPA members and presenters who banded together to turn the May 14-15 Virtual Spring Splash into a CPE success [...]

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Galasso Learning Solutions: FASB Delays Leases & Revenue Recognition

By |2020-10-07T18:43:21-04:00May 20th, 2020|Auditing & Accounting, COVID-19, Educate, Governmental, Legislative/Advocacy, Membership Page Controls, Regulatory|

FASB voted to delay both revenue recognition and leases for private entities at its May 20, 2020, meeting. The original proposal was for a delay for private company franchisors [...]

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