On January 24, 2015, the AICPA Auditing Standards Board (ASB) issued four auditing interpretations to address issues related to the SAS No. 126, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern (Redrafted) (AICPA, Professional Standards, AU-C Section 570). In 2014, the FASB released Accounting Standards Update (ASU) No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure […]
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FASB Drops Extraordinary Items – When Will It Be Tested On The CPA Exam?
The concept of extraordinary items was dropped from U.S. GAAP by the FASB on January 9, 2015, as a result of the adoption of Accounting Standards Update (ASU) No. 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. Accountants and other financial professionals had […]
Four CPA Continuing Education Courses to Prepare you for 2015
The best way to start the New Year is by getting a head start on your CPE courses. We complied a list of continuing professional education courses that we offer to help get you up-to-date on new issues and refresh your memory on basic accounting skills. Audit Documentation Basics – A1M5 Category: Audit Skills Training […]
Four CPE Courses to Grow Your Leadership Skills
Your CPE courses aren’t just for keeping your continuing professional education requirements up-to-date, they also can help you grow as a leader and improve your management skills. Here are four self-study webcasts from Surgent that can help nurture your leadership skills and count towards your CPE credits. Coaching Staff to Stay on the Right Track […]
The Secret to Zapping Stress
From urgent deadlines to a busy workload piling up, stress can come on all too easily these days. This doesn’t benefit you or your clients, so here are 6 tips from Forbes about how to beat stress. Speak up Don’t underestimate the power of voicing your opinion. Research conducted at the University of California in San […]
Three Tips to Get the Most Out of CPE for CPAs
As the end of the year approaches, so is the deadline for CPA continuing education credits. Whether you’re using self-study CPE or CPE webinars, here are three ways you can make the most of your online education. Set the mood One of the many benefits of online learning is that you aren’t constrained […]
T’was the End of the Year and All Through the Firm
T’was the end of the year and all through the firm, Not a staff person was stressing, not even an intern. The staff they were celebrating today without a care, Knowing that next tax season soon would be there. The partners had nestled in to plan the year ahead. While visions of bonuses danced […]
Are You Scared to Talk to Your Clients About Charitable Giving?
By Jack Surgent, CPA There is an embarrassing fact that CPAs don’t like to talk about: many of our wealthy closely-held business owner clients give very little to charity. While you may think that this reflects negatively on the character of the client, don’t jump to that conclusion. The truth is that most of […]
Five Ways to Boost Your Productivity
Sometimes its tough to get going in the morning, and you might see your tasks pile up on you at the end of the day because of a slow start. Here are five simple tips that can help boost your productivity throughout the day. Organize your day the night before Either at the end of […]
Avoiding Malpractice Risk When You “Dabble” In Audits
According to CAIMCO insurance statistics, the average audit claim is around $362,000. The highest loss ratio comes from providers that “dabble” in audits, spending less than 15% of time on that particular service area. What are important steps you can take in order to avoid malpractice risk? Before accepting any engagement, ensure you understand […]