Pennsylvania CPA Journal

The Financial Accounting Standards Board recently issued Government Grants: Accounting for Government Grants Received by Business Entities, which establishes authoritative guidance for recognizing, measuring, and presenting government grants for business entities that historically had no directly applicable guidance.

Many companies struggle with fragmented accounting systems, underutilized tools, and poor adoption across teams. Successful software adoption outcomes depend on three critical factors.

When a CPA has decided to move on, sometimes a wrinkle will arise after they give notice: they may receive an offer to stay by their current employer. You should carefully weigh the long-term implications of accepting such an offer.

Tax footnotes are one of the most complex sections of the financial statement. This column provides a practical framework for knowing which questions to ask and when to spot numbers that may deserve a closer look.

Some of the rules for qualified retirement plans recently changed, which means some account owners might have missed taking their required minimum distributions (RMDs). Advisers should especially review the rules regarding RMDs where clients are the beneficiaries of inherited plans.

Today’s tax professionals – particularly those in state and local tax – thrive when they collaborate and communicate, share perspectives, and employ efficiencies to drive business value.

The entry-level work that AI is now doing in accounting firms was how staff learned judgment. Going forward, the firms that thrive will be the ones that figure out new ways to develop professional judgment in new recruits.

AI is already present in many of the accounting platforms used every day. This ubiquity creates a subtle but significant liability problem.

Companies now see problems and opportunities earlier than they once did due to advances in data collection. But the speed of data distribution does not guarantee the signals will be interpreted correctly or acted upon effectively.

Whether CPAs understand the nuance or not, the profession operates within a philosophy-based ethical structure. And understanding how ethos, pathos, and logos interact is vital for maintaining professional integrity and public trust.

The PICPA’s Tax Blueprint Advisory Committee will create a plan to help address Pennsylvania’s structural deficit in a fair, neutral, and simple way.

When the Pennsylvania budget passed in July, there were several components, and omissions, that were wins for PICPA’s advocacy efforts.

You don’t have to be a policy expert to be part of PICPA's advocacy work. Simply follow the issues we're tracking, but most importantly, tell us what you’re seeing in your own practice.