Going Concern

JUNE 3, 2022

The Financial Accounting Standards Board adopted CECL in 2016, prompted by criticism that banks had booked losses too slowly in the run-up to the 2008 financial crisis. That is a far broader calculation than the old rules, which were based on losses expected imminently.

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CPA Practice

SEPTEMBER 6, 2023

Several AI systems were among this year’s winners of the Tax & Accounting Technology Innovation Awards, presented annually by CPA Practice Advisor, a technology and practice management resource for public accounting firms. Clients benefit from proactive service, accurate financial insights, and timely tax planning.

Technology 122

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CPA Practice

MARCH 7, 2023

The Uniform Certified Public Accountant Examination (CPA Exam) is regularly updated to reflect enhancements to accounting and auditing standards as well as tax laws and regulations — and to improve the efficiency of the exam. By Gail Cole.

Technology 137

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Going Concern

MARCH 24, 2023

[ Journal of Accountancy ] Pandemic pressures have worn the workforce thin, and the economy is in the thick of rapid, radical change. It’s time for firm leaders to ensure their businesses are on course to not just survive but thrive. Many practitioners in public accounting are feeling burned out.

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CPA Practice

APRIL 27, 2023

Professionals on the Move is a roundup of recent hiring and promotion announcements from around the accounting profession. FASB Names Three New Members to Its Investor Advisory Committee The Financial Accounting Standards Board (FASB) recently announced the appointment of three new members to its Investor Advisory Committee (IAC).

Real Estate 52

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CPA Practice

APRIL 11, 2023

In this newly created role, Yujuico, a Certified Public Accountant, will oversee day-to-day activities of the growing team of chief auditors, crew and cadets. It’s an incredible time to join AuditClub in its mission to make accounting and auditing better,” says Yujuico. “I

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CPA Practice

JUNE 1, 2023

(NABA) National Association of Enrolled Agents (NAEA) National Association of Tax Professionals (NATP) National Conference of CPA Practitioners (NCCPAP) National Society of Accountants (NSA) National Society of Black Certified Public Accountants, Inc. Michael Paul Donnelly, Jr.

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Going Concern

AUGUST 14, 2023

The Times Union of Albany wrote about local firm BST and its enthusiasm for women in leadership : A Latham-based accounting firm is touting the number of women it employs in leadership positions, which some partners at the firm say has been partly driven by a longtime practice of letting women with children work from home.

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Going Concern

MARCH 25, 2022

Akazoo fired its CEO and saw its stock price tumble shortly thereafter, and investors have now filed a $40 million lawsuit against the accounting firm that audited the defunct company’s financials. Louis also held himself out to be an accountant who prepared tax returns for pay or as a favor to friends.

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Going Concern

OCTOBER 1, 2022

Partners at Deloitte in the UK and Switzerland will receive an average income of more than £1m each for the second year in a row, after the accountancy firm enjoyed another successful year. Firm Watch. Seven things you (probably) don’t know about internal auditing [ Accountants Daily ]. Accountant Life.

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Going Concern

APRIL 21, 2023

. “silent layoffs”) are on the menu B4 Layoffs – USA by u/additional_cats in Big4 KPMG is diversifying its partner rank through sponsorships and succession planning [ Fortune ] Partners are among the most senior-level roles at accounting firms and some of the highest paid. KPMG faces $1.4-billion

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Going Concern

OCTOBER 21, 2024

Financial reporting data has become extremely structured and repeatable across all enterprises because it’s guided by the standards set out through generally accepted accounting principles (GAAP), which are governed by the Financial Accounting Standards Board (FASB). Everybody measures the same things, in the same way.

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CPA Practice

JULY 8, 2024

The survey polls chief executive officers, chief financial officers, controllers and other certified public accountants in U.S. companies who hold executive and senior management accounting roles.

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CPA Practice

OCTOBER 22, 2024

Top 75 accounting firm PBMares is expanding its presence in the Washington, D.C. metro area by merging in BSB CPAs + Advisors, a top 400 tax and accounting firm based in Fairfax, VA, effective Jan. Financial terms of the deal weren’t disclosed. million, according to INSIDE Public Accounting.

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Going Concern

MARCH 22, 2024

The decision will likely set up another showdown with Australian politicians who have strongly criticised the firm for not sharing the report, and frustrate government departments that have believe it should be shared. The Rawlins city council voted to switch auditing services due to delays in state-required financial reporting.

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Going Concern

APRIL 15, 2024

In response, the Public Company Accounting Oversight Board has drafted a rule that the accounting firms can have public trust or private financials—but they can’t have both. Public accounting firms operate in a unique space in our society. Regulations need to change to match.

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Going Concern

AUGUST 11, 2023

Accounting and advisory firm Grant Thornton trimmed about 3% of its ranks in June. Firm Watch SingerLewak Grows in Pacific Northwest With Acquisition [ INSIDE Public Accounting ] Los Angeles-based IPA 100 firm SingerLewak (FY22 net revenue of $89.6 The dollars at stake haven’t been finalized, but $23.4

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Anders CPA

DECEMBER 1, 2023

Intro (00:00:00) – Welcome to the Modern CPA Success Show, the podcast dedicated to helping accounting firms stay ahead of the curve. Guillermo (00:02:04) – And like most CPAs, I think I had the opportunity to go into industry or public accounting when I graduated college and I decided to go into industry and got my CPA.

Start-ups 52

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Going Concern

JULY 15, 2022

All of cryptocurrency’s wild swings would get captured by rules the Financial Accounting Standards Board is considering. But most significantly, assuming the market recovers, company financial statements would get to reflect crypto price rebounds, not just downturns as under current reporting. Williams. “We

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Going Concern

AUGUST 5, 2022

If the world had no accountants [ The Indicator from Planet Money ] As the unsung heroes of the financial world, CPAs (Certified Public Accountants) are responsible for a wide range of important tasks, from balancing the books to investigating fraud. Meet the accountants who may become the new power brokers of taxes. [

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Going Concern

NOVEMBER 18, 2022

As such, research from the AICPA (“Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits”) suggests that employers have begun to hire from other more technical undergraduate degree fields, such as management information systems (MIS), instead of accounting graduates. Law & Order.

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Going Concern

JUNE 21, 2024

National accounting firm names new Baltimore office head [ Baltimore Business Journal ] Baltimore native Mary Kate Federico will lead Ernst & Young LLP’s Baltimore office starting July 1. Federico will manage EY’s 250-person office, which ranks among the largest accounting firms in Greater Baltimore. million in 2015.

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CPA Practice

NOVEMBER 14, 2024

The relief provided by FinCEN should match the relief provided by the IRS for other filings, both in terms of the extended due dates and the geographic scope,” says Sue Coffey, CEO of Public Accounting for the AICPA, in the letter.

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Going Concern

OCTOBER 25, 2024

Firm Watch Whistleblower says big accounting firm hid evidence that a Saudi co-defendant helped finance 9/11 [ Florida Bulldog ] So this is…a lot. For the second year in a row, New York-based accounting firm PKF O’Connor Davies took the #1 spot on Vault’s Best Overall Internships list.

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Going Concern

AUGUST 19, 2022

We’re adding accounting firm mergers & acquisitions to the weekly news as they’re happening with such frequency and regular Footnotes readers will notice the news is now sorted by topic. Firm M&A: Eisner adds Minn.-based accounting firms, has merged with Healdsburg’s Mengali Accountancy Inc.,

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Going Concern

JANUARY 13, 2023

Munter will continue to lead the Office of the Chief Accountant (OCA) and serve as the principal advisor to the Commission on accounting and auditing matters. Are midcareer CPAs happy in your firm? Accounting Today Opinion ]. ” Talent.

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Going Concern

APRIL 5, 2024

Private Equity Why private-equity investors see a target-rich environment in Chicago’s accounting biz [ Crain’s Chicago Business ] Isn’t “target-rich environment” what Overwatch’s Soldier 76 says when he pops his ult and proceeds to melt the entire enemy team? Foreshadowing maybe.

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Going Concern

DECEMBER 2, 2022

Why People Leave Public Accounting [ CPA Journal ]. Writes Edward Mendlowitz, CPA/PFS, ABV: There are many reasons why CPAs decide to leave public accounting firms. The following is a discussion of what I have found to be the most common reasons why people leave public accounting.

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