Statement on Auditing Standards (SAS) No. 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements, was recently released by the AICPA’s Auditing Standards Board. The overall objective is to update the form and content of the...
by Jennifer Louis
Office 365’s new stock data types allow you to type a company name or stock ticker symbol in Excel and write formulas that extract information about the company to a different cell. The file Stockdatatypes.xlsx contains our work.
To begin we typed in the company names and ticker symbols shown...
by Wayne Winston
The Tax Cuts and Jobs Act added a new provision to the Internal Revenue Code called the “Base Erosion and Anti-abuse Tax” (BEAT). In April 2019, the Joint Committee on Taxation (JCT) published a report that offers insight into the number of corporations that will be impacted by the BEAT...
by Tara Fisher
Chinedu “Chin” Iwuora has always been fascinated by money and how economies work. It’s no wonder he was immediately hooked on accounting after his first accounting class at Chowan University in North Carolina.
“You can say I like the culture of business and accounting is the...
by Bria Wright
Preparing for the CPA Exam is a special challenge, requiring a strong amount of dedication and hundreds of study hours. For working parents, it may feel nearly impossible to balance full time work, studying for the exam and parenting, but our community is here to help!
Here are tips to assist...
Cybersecurity has rapidly become a significant risk to businesses as breaches of information may result in financial and reputational damage, diminished investor confidence, and exposure to potential regulatory fines. Cybersecurity risks and controls are within the scope of the financial statement...
The Joint Committee on Taxation (JCT) recently published a series of documents tied to the Tax Cuts and Jobs Act. One of the documents receiving a great deal of attention is the “Distributional Effects of Public Law 115-97.” The document provides distributional tables and analysis of the Tax...
Office 365’s new geographic data types allow you to type a location in Excel and write formulas that extract information about the location to a different cell. For example, if you enter “Paris” in cell E4, entering the formula “E4.Population” in a different cell will...
Congratulations! If you’re reading this article, odds are you’ve survived this year’s busy season.
At the beginning of the season, we provided five quick tips for surviving the busiest time of the year for accountants. Spoiler alert – the last tips was to celebrate! But,...
In our January and February 2019 newsletters we discussed
the OFFSET function. Recall that the syntax of the OFFSET function is
OFFSET(cell reference, rows moved, columns
As we explained in our last two
articles, we begin in the cell reference and based on the rows...
The Financial Accounting Standards Board (FASB) has proposed
that two GAAP alternatives currently available only to nonpublic business
entities also be made available to nonprofit organizations. The accounting
alternatives were originally codified into GAAP through ASU 2014-02 and ASU...
Now that tax season is over, it is important to look at some
recent tax changes that affect compliance and planning for 2019. These changes have been brought about by the
Tax Cuts and Jobs Act (TCJA), new regulations, revenue procedures, notices, and
Medical deduction: The...
by John Stevko
The Tax Cuts and Jobs Act added a new
provision to the Internal Revenue Code called the “Base Erosion and Anti-abuse
Tax” (BEAT). The IRS recently issued Form 8991, Tax on Base Erosion Payments of
Taxpayers with Substantial Gross Receipts, which taxpayers will use to report
their tax liability...
One of the most difficult aspects of studying for the CPA
Exam is finding which methods work best for you individually. One size doesn’t
fit all and everyone’s learning style is different! Thankfully, it’s possible
to learn a few things from candidates who have already taken the exam.
by Kristen Cournane
Angela Zullinger has trained as a
professional musician since the age of 15, working as a freelance opera singer,
pianist and music teacher. After starting a family, Angela reconsidered her
work in the music industry and transitioned her efforts to accounting, starting
with an online master’s...
Upon first glance, the CPA Exam can seem daunting. The process itself is long and if it’s not done right, can be very costly. According to data released by the AICPA, the 2019 CPA Exam pass rates show that the highest cumulative pass rates for any section is just under 60%.
Lease incentives are any payment made to, or on behalf of, a
lessee to fund items that would otherwise be a lessee’s expense. This includes
reimbursement for moving expenses or assumption of a lessee’s pre-existing
Lease incentives reduce lease payments used for lease...
The IRS has published both of the forms U.S. shareholders
need to compute amounts tied to global intangible low-taxed income (GILTI). The
GILTI provisions were enacted as part of the Tax Cuts and Jobs Act (TCJA) and apply
to all U.S. persons that own at least 10 percent of a foreign corporation.
What does it really cost to take the CPA Exam?
The answer: it depends on where you live. CPA licensure is conducted
at the state level, which gives each state the ability to decide the fees
associated with taking the CPA Exam.
There is no single, definitive amount that each candidate
The Certified Public Accounting (CPA) designation is one of the most in-demand accounting designations in the U.S., according to the 2018 Robert Half Salary Guide. As an international student, you may be eligible to become a licensed U.S. CPA under certain Board of Accountancy requirements. The...
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