Accounting and Attestation Committee: Going Concern Update

by Melisa Galasso There has been a lot of change in the area of Going Concern lately. It started with the issuance of Accounting Standards Update (ASU) 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern in August 2014. This ASU was long awaited. Prior to ASU 2014-15, the responsibility […]

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Accounting and Attestation Committee: ASU 2015–02 Modifications

By Art Winstead ASU 2015–02 is an amendment to existing consolidation guidance in the Codification (Topic 810). ASU 2015–02 does a lot of things in its 146 pages. The FASB stated “2015 – 02 is an improvement to current GAAP because it simplifies current GAAP and reduces the number of consolidation models/criteria through the elimination […]

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NCACPA Recognizes Outstanding Members and Educators During the Annual Business Meeting and Recognition Dinner May 5

During the Annual Business Meeting and Recognition Dinner held Tuesday, May 5, at the Grandover Resort & Conference Center in Greensboro, various NCACPA members and speakers received awards commemorating their achievements over the past year. The deserving winners of these awards were recognized for their contributions to the North Carolina Association of Certified Public Accountants, […]

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May 1 is Check Your CPE Day

The North Carolina State Board of Certified Public Accountant Examiners has declared May 1, 2015 as Check Your CPE Day. “Each year, far too many North Carolina CPA licenses are forfeited because people haven’t met the annual CPE requirement; we want that to change,” said Robert N. Brooks, Executive Director of the Board. “We ask […]

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CommScope Credit Union v. Butler & Burke Update

NCACPA, in conjunction with the AICPA, NC Chamber of Commerce, NASBA, and three large accounting firms submitted or resubmitted amicus curiae briefs on the CommScope Credit Union v. Butler & Burke case. Please find the completed briefs below. Brief filed by NCACPA, AICPA and Center for Audit Quality Brief filed by US Chamber of Commerce Brief filed […]

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Income Tax Division Updates

The Income Tax Division recently issued an updated notice dated April 1, 2015, North Carolina’s Reference to the Internal Revenue Code Updated – Impact on 2014 North Carolina Corporate and Individual Income Tax Returns. The updated notice can be located at: http://www.dornc.com/taxes/impactofcodeupdate040115.pdf Questions about the information provided in this document, can be directed to the […]

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IRC Update

April 1, 2015 Internal Revenue Code Conformity We are excited to report the Governor signed Senate Bill 20, “IRC Update/Motor Fuel Tax Changes” into law last night. As you are aware, the IRC Update portion of this legislation was part of a Senate bill that included the motor fuel tax issues. The reference to the […]

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