Category: Accounting & Finance

Recap: A Day in the Life of a Mom, Wife, YouTuber and Future CPA

As a full-time accountant and CPA candidate, Sara Marie spends most of her days juggling a heavy workload and a study schedule. She’s also working to inspire other accounting students through her YouTube channel and Instagram platform. After failing FAR last fall, Sara took to YouTube to share her...


Scholarship Winner Chase Ritenauer Uses His CPA Credential to Serve His Community as Mayor

As the mayor of the 10th largest city in Ohio, Chase Ritenauer spends his days contributing to the community that raised him. He’s also still waiting on that cup of coffee from Peter Olinto. Ritenauer, a 2018 recipient of the Newton D. Becker Scholarship, has served as Lorain’s mayor since he...


Opportunity Zone Investments

The Tax Cuts and Jobs Act created a new investment our clients need to be aware of. Referred to as the “Opportunity Zone” program, this new investment vehicle provides spectacular tax benefits for those who can take advantage of its features. This article explores the key aspects of investing in...


What PCAOB Inspectors Will Look for in 2019 Audits

The Public Company Accounting Oversight Board (PCAOB) issues an annual outlook on the potential focus areas for inspections of audits of issuers and broker dealers. The following areas will be emphasized in 2019: Recurring deficiencies related to auditor independence suggest that firms do not have...


New Treasury Regulations Usher in the New Year

The Treasury Department issued a plethora of guidance in the international tax arena during the latter part of 2018 to address changes made by the Tax Cuts and Jobs Act (TCJA). This article provides a brief summary of the proposed regulations for the transition tax, global intangible low-taxed...


5 Tips for Surviving Busy Season

It’s that time again! Every tax accountant and auditor understands the stress and exhaustion of busy season. While we can’t lighten your workload, we can offer a few tips to help you survive it.  Inform your non-accounting family and friends. Your loved ones who aren’t a part of the...


The AICPA’s Update to Data Analytics in AUD

On January 9, 2019, the AICPA released new CPA Exam Blueprints effective July 1, 2019. Although the new blueprints are not effective until July 2019, the AICPA emphasized that all of the revisions included in this revision of the blueprint expand upon the existing blueprint, but do not significantly...


Your 4-Step Guide to Becoming a CPA

At Becker, we aim to demystify the process of becoming a CPA and help candidates through every step of the CPA licensure process. Below, we’ve put together an easy, four-step guide on how to become a CPA. 1. Check Your State’s CPA Licensing Requirements While the Uniform Certified Public...


Materiality – Standard Setters Revisit This Important Concept

The Financial Accounting Standards Board (FASB) recently amended Statement of Financial Accounting Concepts No. 8, Chapter 3, Qualitative Characteristics of Useful Financial Information. The Concepts Statement provides a foundation from which financial reporting standards are created.  Similarly,...


Tax Policy Under a New Congress

In December 2017, Republicans passed the biggest tax reform legislation since Ronald Reagan signed the Tax Reform Act of 1986. Now, a year later, Democrats have control of the House of Representatives and there is much speculation about what will happen with tax policy in 2019 under the 116th...


I Passed the CPA Exam! Now What?

It’s what you’ve been dreaming about: after spending countless hours studying and chugging coffee, you finally receive notice that you’ve passed all four parts of the CPA Exam. Congrats, you did it! Now what?  Passing the CPA exam is not the only requirement for earning those three letters...


Revenue Recognition – Real Life Impacts

Accounting for revenues and the associated direct costs has caused global sweeping changes recently.  While the underlying concepts are not entirely new, the changes are having larger impacts on certain industries and are causing other companies to rethink how they do business. U.S. public...


Treasury Releases Proposed Regs on New GILTI Tax Provisions

In mid-September, the Treasury Department and IRS released proposed regulations on the treatment of Global Intangible Low-Taxed Income (GILTI).  The GILTI rules were created by the Tax Cuts and Jobs Act (TCJA) and operate as a worldwide backstop to the territorial-style rules adopted by the tax...


15 CPA Exam Success Tips from Your Accounting Peers

Preparing for the CPA Exam can feel like a fulltime job. In the midst of managing your personal and professional lives, you still need to find time to complete all of those MCQs and flashcards! Luckily, your accounting peers are happy to offer some assistance. Our social media community recently...


How Becker Is Tackling the 2019 REG Changes

The 2017 Tax Cuts and Jobs Act (TCJA) will have a major impact on the Regulation section of the CPA exam, starting in January 2019. If you’re planning to take REG in 2019, you need to know the ins-and-outs of the specific changes and how Becker has already revised content to keep you up-to-speed...


2019 CPA Exam Score Release Dates Are Here!

The American Institute of Certified Public Accountants (AICPA) has officially announced next year’s CPA Exam score release timetable. If you want to receive your scores at a specific time, you should plan to take the exam within the specified testing window. Q1 If you take your Exam on or...


FASB Updates Accounting for Costs of Implementing Cloud-Based Computing Arrangements

ASU 2018-05, Intangibles-Goodwill and Other: Internal-Use Software (Subtopic 350-40) relates to a customer’s accounting for costs incurred in implementing a cloud-based computing arrangement that is considered a service contract versus a software license. Previously issued ASU 2015-05 provided...


Tax Benefits of the Foreign Earned Income Exclusion

Commentary on the Tax Cuts and Jobs Act (TCJA) often focuses on the new territorial tax provision that allows U.S. corporations operating abroad to exempt certain foreign-source income from U.S. taxation, but there has long been a provision available to U.S. individuals working abroad to exempt...


Recent Rulings Affecting the Deductibility of Charitable Contributions

Years ago my wife, kids, and I would staff a Salvation Army kettle outside a Target store during the holiday season. In those days if you put money in the pot you got a deduction.  Now it is not as easy. This article explores some of the recent rulings that impact the deductibility of charitable...


10 Motivational Tips from Top Scorers on the CPA Exam

With the everyday stress of school, work, and personal commitments, it’s difficult to get motivated to study for the CPA exam. The good news is, you’re not alone! Even the highest CPA test scorers struggled with finding time to study. Elijah Watt Sells Awards winners have passed all four...