Fall 2022 Pennsylvania CPA Journal - PICPA
Pennsylvania CPA Journal

Fall 2022 Edition

Features

Fall22Electionfeature

Pennsylvania’s General Election: Big Deal Statewide and Nationally

By Alex Fabian

Previews the 2022 Pennsylvania gubernatorial, congressional, and General Assembly races.

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Fall22ManyHatsfeature

The Many Hats of the Small-Business CFO

By J. Stephen McNally, CPA, CMA
 
Examines the many roles of a small-business CFO, and offers guidance for those who may be thinking about a transition to a small or medium-size company.

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Fall22PCCfeature

Filtering for Clarity: PCC’s Efforts to Clean Financial Reporting Requirements for Private Companies

By James J. Newhard, CPA
 
An analysis of the streamlined reporting projects being considered at the Financial Accounting Foundation’s Private Company Council.

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Fall22ElderFraudfeature

COVID-Era Evolution of Elder Fraud: Know the Red Flags

By Howard Silverstone, MBE, CPA, CFF
 
Explores how elder fraud has mutated during COVID-19 and offers guidance on how to help clients combat this growing concern.

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Columns

Accounting and Assurance

Fall22AA

IAASB’s Plan for Audits of Less Complex Entities

By Richard F. Fischer, CPA, CGMA

Reviews the International Auditing and Assurance Board's exposure draft on the auditing of financial statements of less complex entities (LCE) and its potential influence on U.S. standards.

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State & Local Tax

Fall22StateTax

State Income Tax Implications from Federal R&D Law

By John Mertz, Tom Lemon, CPA, and Greg Rineberg, CPA

Addresses the changes coming to the treatment of research and experimental expenditures effective for tax years beginning after Dec. 31, 2021. 


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Federal Tax

Fall22FederalTax

Tax Pitfalls Associated with Closely Held Businesses

By Mark L. Lubin, CPA, JD, LLM

Explains how knowledge of certain considerations coupled with caution can spare practitioners unnecessary tax expense and exposure when structuring closely held businesses.


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Liability Lessons

Fall22LiabilityLessons

High Cybersecurity Risks Demand a Proactive Defense

By Irene M. Walton

Stresses the importance of strong cyber risk management and risk mitigation in a CPA firm’s fight against cybersecurity attacks.


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Careers & Lifestyles

Fall22Careers

Reconnecting with Working Mothers in Accounting

By Kim Brown, CPA

Explores the factors contributing to fewer working mothers in public accounting since 2020 and the actions firms can take to help reverse the decline.

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Business & Industry

Fall22BusinessIndustry

New Employment Model Demands New Fraud-Fighting Efforts 

By Scott Koman, CPA, CFE, MAFF, and Mark Banks, CPA, CFE, MAFF

Explains how corporate CPAs, like it or not, are on the front lines in the fraud battles our companies constantly face, and new methods are needed to win the fight. 

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Government/Not-for-Profit

Fall22Government

IASB May Offer Guide to Governmental Accounting for Cryptocurrencies

By Khaled Abdel Ghany, CPA, PhD

Presents a suggested framework for a scenario that once seemed unlikely to occur: the accounting treatment of cryptocurrency transactions for state and local governments.


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Practitioners

Fall22Practitioners

Using Tax Season as a Measure for Possible Firm Transition

By Ira Rosenbloom, CPA (Inactive)

Explains that if firm owners are ready to merge with, or be acquired by, another firm, it’s important that they plan out well in advance of the coming tax season. 


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International Tax

Fall22InternationalTax

New Regs to Counter Foreign DST Credit May Kill Other Foreign Tax Credits

By Andrew M. Bernard Jr., CPA, MST

Analyzes the U.S. Treasury Department’s final foreign tax credit regulations under Treasury Regulation Section 1.901-2, which stem primarily from foreign countries enacting new digital service taxes.

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Emerging CPAs

Fall22EmergingCPAs

Get Ready Now for the New CPA Exam in 2024

By Jessica L. Hildebrand, CPA, and James W. Sunday, CMA

Guides readers on the benefits of creating a strategic plan now to pass the new CPA Exam, which is set to debut in 2024.


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Education

Fall22Education

The 30 Credit Conundrum

By Elisabeth Felten, CPA

Discusses the approaches many students are taking to fulfill the 150-hour requirement to become a CPA.


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