In a rapidly changing world, it is vital that students are well-versed in science, technology, engineering, and mathematics (STEM). CPAs are fighting hard to have accounting education included under the STEM umbrella. Why? First, accounting already is a profession that requires high aptitude in technology, and it will become even more so. More importantly, though, inclusion as a STEM discipline will go far in enhancing the pipeline of prospective accountants.

Environmental, social, and governance (ESG) reporting: where is it today and where is it going? More importantly, what do CPAs need to know about ESG? Answers to these questions and more are provided in PICPA's Insights white paper on the state of ESG reporting.

“Public or private?” So many CPAs have asked themselves this question at some point. But while most of us have asked it, it is the wrong question to ask. It is a false choice that may bias your evaluation of the opportunities before you.

Officially recognizing accounting as part of the STEM curriculum likely would encourage more school districts to devote additional resources to early accounting education. The additional resources would expose more students to accounting, increasing the number of talented students interested in studying accounting.

The Multistate Tax Commission recently updated its interpretation of long-established Public Law 86-272 (P.L. 86-272) to address how business is transacted through the internet in today’s economy. This has created quite a stir within the state and local tax community.

If you are thinking about a business process assessment, understand that it is a deeper action than you may have considered. Yes, it looks at functions, systems, and structure, but at its heart it is a change management initiative. That means it requires buy-in and engagement at all levels of an organization.

Accounting, of course, focuses on numbers, but the work the profession does is really about the people and relationships behind those numbers. The future of accounting, then, must include a discussion on the trends in the talent pool. Hear from Elisabeth Felten, CPA, a speaker at this year's PICPA Not-for-Profit & Government Accounting Conference.

Failure to document and implement internal controls in a nonprofit could be a serious mistake. This oversight could lead to both financial and reputational setbacks. And it’s not just “the big guys.” If a nonprofit has cash, uses credit cards, or holds large amounts of inventory, it is at risk of theft or significant financial statement errors.

Is it possible for you to be a "good boss" and at the same time underperform, or even fail, as a leader in your organization? Very much so. Successful leaders must lead well in all directions: leading up to your boss, across with your colleagues, and in front of your team.

The state of the economy is top-of-mind for businesses and individuals, so it is paramount that CPAs remain focused on the many different measures and forecasts so they can best serve their clients, companies, or organizations. To that end, the PICPA is providing updates during this turbulent summer so you are prepared to offer sound advice.

Seven days after the 2022-2023 fiscal year began on July 1, Gov. Tom Wolf and state lawmakers did finally adopt a $42.8 billion state General Fund appropriations bill. This year there was big news on the tax front: there will be a staged reduction in the Pennsylvania corporate net income (CNI) tax rate -- the state’s first CNI tax rate reduction in more than two decades.

Commitment to diversity, equity, and inclusion (DEI) should be integral to every organization’s culture because studies show that embracing DEI is good for business. A 2019 report by McKinsey & Company, for example, found that companies with executive teams in the top quartile for gender and ethnic diversity were 25% more likely to have above-average profitability.

The role of the CFO has undeniably grown. The position has moved more toward the stewardship of capital and taking on the responsibility of strategic business partner. CFO work is shifting from generating reports to generating and optimizing value for the entire organization.

Thirty percent of midcareer professionals (between 30 and 45 years old) have quit their jobs over the past year. A third of those left without another job lined up. Employee turnover is costly, disruptive, and robs CPA firms of a pipeline of future leaders. Why, then, do so many firms focus on recruiting new employees instead of keeping the top talent they have?

When it comes to accounting firm mergers and acquisitions (M&A), two factors in 2022 are making a hardy impact: staffing challenges and the acceleration of technology. For those in today’s market, here are five vital priorities to be more successful with your M&A endeavor.

An effective asset protection plan must be implemented before any foreseeable claims because reactionary transfers (made to avoid a present or future creditor) are reversible. Be careful to not get entangled in a potentially fraudulent transfer.

To ensure the PICPA remains a valuable resource for CPAs across Pennsylvania, it is essential for the organization to provide future-conscious information and opportunities for 21st century CPAs and for CPAs to embrace the changes in technology and business practices. To that end, Dr. Daniel Susskind, fellow in economics at Oxford University, was the keynote speaker at PICPA's 125th Annual Meeting where he shared his view on the future of the profession.

A data breach at a CPA firm will likely require remediation and a forensic investigation; it may also require costly client notification. The road does not end there, however. Perhaps the most concerning results of a data breach will be the civil penalties and litigation.

Members of the Pennsylvania CPA Journal Editorial Board met in May for their annual meeting to plan the featured content for the 2022-2023 issues of the Pennsylvania CPA Journal. The group came into the meeting with their eyes on several critical issues facing CPAs, particularly in the areas of technical accounting, practice management, and the future of the profession.

The Federal Reserve raised interest rates by the largest increase since 1994. Find out from Patrick Harker, president and CEO of the Federal Reserve Bank of Philadelphia, what is behind the Fed's thinking on the hike.