CPA Now Blog

  • New PICPA Conferences Address Rapid Changes to Workforce, Services

    Sep 16, 2022
    Adapting to change is an integral part of being a CPA, and the PICPA, as your professional organization, is committed to doing no less. In watching the professional landscape and responding with the resources you need to succeed, we are proud to announce two new conferences this fall: the Accounting Workforce Conference and Evolve, a conference focused on services for future-focused firms
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  • Staffing and Workload Challenges Hit Accounting Industry Hard

    Sep 13, 2022
    Accounting firms are facing heavy competition to attract talent as the profession faces the kinds of hiring challenges confronting other industries in the current state of low levels of unemployment. Michael Cohn, the online editor-in-chief of Accounting Today, provides a preview in this blog of his presentation at PICPA's Accounting Workforce Conference.
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  • PICPA Study: The Accounting Profession Underestimates the ESG Opportunity

    Sep 12, 2022
    Environmental, social, and governance (ESG) reporting offers CPAs unique challenges and opportunities. But a PICPA study finds many CPAs have been slow to seize the advantages this area may offer. The PICPA will discuss the opportunities ESG presents to CPAs at a Sept. 30 Zoom workshop.
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  • Pennsylvania Lawmakers Return for Brief Pre-Election Session

    Sep 8, 2022
    There are only a handful of session days in the Pennsylvania legislature before November’s election recess, so lawmakers will be using this narrow window to add to their list of 2021-2022 accomplishments. The PICPA will be involved, advocating for several important goals before time runs out on the session.
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  • Prepare Now to Avoid ASC 842 Induced Debt Covenant Violations

    Sep 6, 2022
    Lease accounting standard ASC 842 is effective for fiscal years beginning after Dec. 15, 2021, for nonpublic companies. While most attention has been focused on adding operating leases to the balance sheet, you should be aware that the regulation can also adversely affect debt covenants.
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  • The 3 C’s of Winning Communication: Clarity, Confidence, and Credibility

    Aug 30, 2022
    Creating a clear picture of your end goal is key to business success. One of the most important steps in this process is communication. The journey to effective communication progresses through the stages of clarity, confidence, and credibility.
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  • What Exactly Is “Fair Share” When It Comes to Corporate Net Income Tax

    Aug 29, 2022
    "U.S. corporations do not pay their fair share of taxes" is a common sentiment. But what exactly constitutes a “fair share”? Corporations and other business entities are subject to many different taxes.
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  • Get Curious: It May Kill the Cat, But It Makes for a Better Professional

    Aug 23, 2022
    Curiosity is stimulated not by an absence of knowledge, but by a gap in knowledge. We cannot become engaged in a topic we know nothing about. In fact, curiosity is as important to our professional success as it is to our personal lives. Read this review of “Curious: The Desire to Know and Why Your Future Depends on It” by Ian Leslie.
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  • Take a Close Look at LLCs when Asset Protection Planning

    Aug 22, 2022
    The asset protection measures of limited liability companies (LLCs) are a big reason LLCs have largely become the business entity of choice. However, the level of protection varies from state to state. Therefore, choosing the appropriate entity in your area for an asset protection structure is essential.
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  • New Pa. Rules for Tipped Workers Explained

    Aug 19, 2022
    For the first time in 44 years, Pennsylvania has updated the rules affecting tipped workers and salaried workers who have fluctuating work-week schedules. This blog from the Pennsylvania Department of Labor & Industry clarifies some of the key changes in the definition of tipped employees as well as some of the modified regulations in this area.
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  • Key Tax Changes Included in Inflation Reduction Act

    Aug 16, 2022
    Congress passed a sweeping tax, health care, and climate bill, which was signed by President Joe Biden on Aug. 16, 2022. Known as the Inflation Reduction Act of 2022, the legislation contains major tax provisions of particular interest to CPAs.
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  • Crypto Risk Management: Think Defensive Documentation

    Aug 15, 2022
    When it comes to your client being exposed to cryptoasset risk, "plan for the worst" may be a necessity. Cryptoassets are unpredictable and potentially volatile, so if a crash occurs, your clients will wonder why their CPA did not warn them.
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  • Accounting as Part of STEM: A Critical Pipeline Need

    Aug 11, 2022
    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.
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  • PICPA Insights Releases ESG Reporting White Paper

    Aug 8, 2022
    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.
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  • The False Choice of “Public or Private”

    Aug 2, 2022
    “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.
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  • Is STEM the Root of Solving CPA Pipeline Issues?

    Aug 1, 2022
    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.
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  • Multistate Tax Commission Puts Shine on Venerable Public Law 86-272

    Jul 26, 2022
    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.
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  • 8 Tips to Help Ensure Success After a Business Process Assessment

    Jul 25, 2022
    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.
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  • The Future of Accounting: Opportunity Will Follow Flexibility

    Jul 19, 2022
    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.
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  • Importance of Internal Controls at Nonprofits Stressed at PICPA Conference

    Jul 19, 2022
    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.
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PICPA Staff Contributors

Disclaimer

Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of PICPA officers or members. The information contained in herein does not constitute accounting, legal, or professional advice. For professional advice, please engage or consult a qualified professional.

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