Spring 2023
Features
Neurodiversity Inclusion Needed in Accounting’s Diversity Efforts
By Ibi Balog, CPA, CGMA
Ibi Balog, CPA, CGMA, explains how the accounting profession is beginning to better understand neurodiversity and the contributions it brings to the working world.
Pennsylvania Income Tax Policy: A Comparison to Other States
By Drew VandenBrul, CPA
Drew VandenBrul, CPA, explores some of the areas where Pennsylvania income tax policy remains an outlier among other states and the possible adjustments needed to better align personal and corporate net income taxes.
Solutions for Solving Quiet Quitting
By Anna J. Johnson-Snyder, CPA, CFE
Anna J. Johnson-Snyder, CPA, CFE, shares her research on quiet quitting and discusses how leaders and managers can combat this troubling work phenomenon and improve engagement and retention among younger employees.
Columns
Accounting & Assurance
SQMS Implementations Are a Heavy Lift: Procrastination Is Not Recommended
By Nicole K. Cradic, CPA
A high-level overview of Statement on Quality Management Standards (SQMS) No. 1, A Firm’s System of Quality Management, and offers suggestions for the implementation of the standards.
Diversity & Pipeline
Now Is the Time to Pay It Forward to the CPA Profession
By Michael F. De Stefano, CPA
All CPAs have a career journey story to share that is engaging and that will make a connection with students. Sharing those stories is vital to promoting and growing the profession.
Diversity & Pipeline
Increasing Diversity, Growing the Accounting Pipeline via Programs for High School Students
By Cory Ng, CPA, DBA, CITP
Temple University’s efforts to both bolster diversity within the accounting profession and enhance the pipeline by reaching out to eager high school students.
Emerging CPAs
CPA Exam Requirement Updates: A Positive for Emerging CPAs
By Ashley Stampone, CPA, and Amanda Serafin
Recent changes to the Pennsylvania CPA Law, including updates to education requirements, will create new opportunities for those considering the CPA profession.
Education
Accounting Education’s Need to Embrace ESG
By Christina M. Olear, CPA, and Ashley Stampone, CPA
Accounting educators must ensure that cutting-edge growth areas such as environmental, social, and governance (ESG) reporting are included in their curriculums.
Legislative News
CPA Law Amendments: PICPA’s Grand Finale to Legislative Session
By PICPA Government Relations
The last-minute passage of amendments to the Pennsylvania CPA Law, capping a very successful advocacy effort in 2022.
Business & Industry
Purchase Cards: Maybe Free Money Exists After All
By Michael F. De Stefano, CPA
An overview of the benefits that purchase cards can bring to companies and organizations once corporate finance and accounting leaders complete the initial setup.
Practitioners
Closing the Gap Between Digital Spend and Performance
By David Toth
An effective digital growth strategy can create a compelling value proposition for accounting firms.
Government & Not-for-Profit
Driving Support Function Value at Nonprofits
By Michael F. Cade, CPA, CGMA
CPAs who work with not-for-profit organizations can proactively help them improve their efforts through logical, fact-based decision-making.
International Tax
Newly Proposed Foreign Tax Credit Regulations Offer Potential Relief on Cost-Recovery Requirement
By Andrew M. Bernard Jr., CPA
New foreign tax credit regulations may provide some relief by creating a safe harbor that relaxes the cost-recovery requirement. A single-country exception was also added for royalties, permitting taxpayers to structure or amend their royalty agreements so foreign taxes withheld on royalty payments may qualify as a creditable foreign income tax.
Federal Tax
HSAs: Practical Tax Considerations
By Jeffrey J. Schrader, CPA, MST, and Mary Lew Kehm, CPA
The tax benefits of health savings accounts and the tax reporting considerations.
Liability Lessons
Develop the Helpful Habits to Ward Off Litigation
By Raymond J. Michaud
Insight into establishing best practices to prepare for unforeseen litigation, stressing the need for practitioners to document all correspondence and exchanges.
Personal Financial Planning
The Benefits of Revocable Trusts in Estate Planning
By Danielle Friedman and Herb Fineburg
Advantages of revocable trusts in estate planning for firms that offer it in their portfolio of financial services.
