FASB Focusing on Simplification

Financial Accounting Standards Board Chairman Russell Golden explained that reducing complexity and cost—while retaining the relevance of financial reporting to users—will remain a focus of FASB in the coming years. Read this Journal of Accountancy article for additional coverage of Golden’s presentation to the AICPA governing Council.

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AICPA Council Approves New Not-for-Profit Section; Broadens Section Membership Requirements

The AICPA governing Council voted to establish a not-for-profit section to support members working within, or supporting clients within, this fast-growing business sector. The resolution allows for professionals who have management or governance responsibilities with respect to an organization that meets the definition of an industry-specific membership section of the AICPA to join that section […]

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Council Members Hear Updates on Issues Affecting the CPA Profession

During the recent AICPA Fall Council Meeting, updates were provided on several important issues to the CPA profession. Arleen Thomas, CPA, CGMA, AICPA Senior Vice President—Management Accounting and Global Markets, highlighted important milestones leading to 2015 for the Chartered Global Management Accountant designation. In a separate presentation, she and others explored the evolution of the […]

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Tommye E. Barie, CPA, Elected as Chair of AICPA Board of Directors

On October 21, Tommye E. Barie, CPA, became the AICPA’s chair of the board of directors for a one-year term ending October 2015. Her inaugural speech, Relevance, Rigor and Reach: Building from the Core, focuses on how the CPA’s foundation contributes to the sustainability, strength, and agility of the profession. Barie compared guiding the profession’s […]

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New Revenue Recognition Standard: Build Your Implementation Plan Now

By Kim Kushmerick,AICPA Senior Technical Manager, Accounting Standards The Financial Accounting Standards Board’s new revenue recognition standard presents the most significant accounting change many veteran CPAs have seen. The standard touches every entity (public and private, including not-for-profit entities) that reports under U.S. GAAP and will require CPAs to reexamine the underlying economics of large […]

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Returns with 6-month extensions due Wednesday, October 15

Raleigh, NC (October 8, 2014)—Taxpayers who received six-month extensions on their state individual income tax returns in April, must file those returns by Wednesday, October 15. E-filed returns must be sent electronically by midnight on October 15. For more information, please visit www.dornc.com and click on the Information for Individuals link. Press contact: Trevor Johnson, […]

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NCACPA’s Charlotte Chapter to Host Networking Reception for Newly Licensed CPAs and Political Candidates

Raleigh, NC (August 25, 2014)—On Wednesday, August 27, from 6:00–8:00 pm, local Certified Public Accountants (CPAs) and political candidates will rally for a networking reception at the Old Mecklenburg Brewery’s new location in Charlotte, to honor and support several newly licensed CPAs. The event is sponsored by the Charlotte Chapter of the North Carolina Association […]

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AICPA Sues IRS to Stop Return Preparer Program

The AICPA filed suit in district court on Tuesday, July 15, asking the court to stop the Internal Revenue Service’s Annual Filing Season Program for return preparers. The complaint alleges that the IRS’ implementation of the program violates the Administrative Procedure Act and amounts to an end run around the recent decision striking down the […]

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IRS: Avoid Summertime Tax Scams

IRS Tax Tips, July 11, 2014 Ah, summertime! Warm days, rest and recreation and…tax scams. Thieves don’t stop victimizing unsuspecting taxpayers with their scams after April 15. Identity theft, phone and phishing scams happen year-round. Those three top the IRS’s ‘Dirty Dozen’ list of tax scams this year. Here’s some important information you should know […]

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