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This episode focuses on materiality, especially as it relates to reviews. It also covers a new quality control standard from the Public Company Accounting Oversight Board (PCAOB).
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
AR-C Section 90 – Review of Financial StatementsPCAOB Adopts New Quality Control StandardAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
Every CPA, firm, company and organization across the country is seemingly taking steps to expand the accounting talent pool. In this episode we discuss one of the leaders of that effort: the Center for Audit Quality (CAQ), a nonpartisan public policy organization serving as the voice of U.S. public company auditors. Guest Liz Barentzen, Vice President Operations and Talent Initiatives with the CAQ, discussed Accounting+, a first-of-its kind, profession-backed campaign to actively engage high school and college students on the benefits of a career in accounting.
Resources:
Learn more about Accounting+CPA Pipeline Knowledge Hub -
Saknas det avsnitt?
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There are countless books and videos promising to tell you the secrets of leadership. But according to Dr. Sean Stein Smith, CPA and David Almonte, CPA, CGMA – and his seven-year-old daughter – there is no secret. In this episode, Sean and David break down how you can improve the leader within and develop your own unique leadership style.
Resources:
-Article on leadership
-ISSUESWATCH PODCAST | Empower, Inspire, Listen: The Leadership Trifecta
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How should an auditor approach potential fraud? Find out in the latest episode of the IssuesWatch Podcast.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
The auditor’s approach to fraud: Enhanced with forensics (Journal of Accountancy article) - https://www.journalofaccountancy.com/news/2024/mar/the-auditors-approach-to-fraud-enhanced-with-forensics.html
Accounting and auditing articles and events: https://njcpa.org/hub/accountingJoin the Accounting & Auditing Standards Interest Group: https://njcpa.org/groups -
In this episode, we unpack the importance of mental health in the modern workplace. Guests Ifen Donovan and Sarah Krom discuss the rising rates of stress and burnout and explore how companies can build a culture that prioritizes employee wellbeing. They also share actionable steps individuals can take to manage their mental health.
Resources:
American Psychological Association’s resources for healthy workplacesU.S. Surgeon General’s Framework for Workplace Mental Health and Well-Being -
Busy season is over – it’s time to focus on the health of your firm. Learn about typical findings that will cause your firm to fail its peer review.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
Peer review articles, resources and eventsAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
Nearly 1,000 business leaders recently gathered at the New Jersey Chamber of Commerce’s ReNew Jersey Business Summit to discuss the business climate in New Jersey and how to make it more competitive and attractive. Chamber President Tom Bracken shares the biggest takeaways and also discusses the business community’s reaction to Governor Murphy’s proposed 2.5% corporate transit fee.
Resources:
New Jersey Chamber of CommerceMore on the New Jersey budget -
After a long stretch without any new accounting standards, the FASB has recently issued two Accounting Standards Updates. Get an overview of what they cover.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
FASB ASU 2024-01: Compensation - Stock Compensation FASB ASU 2024-02: Codification Improvements - Amendments to Remove References to the Concepts Statement AICPA AU-C Section 230 - Audit DocumentationAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
Some say leaders are born, not made. But there are critical strategies and techniques anyone can use to unlock their leadership potential. Find out more in our conversation with Thomas Metelski, CPA.
Resources:
Leadership Knowledge HubThe Value of Values podcastLearn from Thomas and others at the NJCPA Convention & Expo, June 11-14 -
In this episode, Brad and Frank dive into attestation activities – definitions of each, example scenarios and sample report language.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
Accounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
We take a deep dive into several components of Governor Murphy’s $55.9 billion proposed budget for New Jersey’s 2025 fiscal year, including the controversial corporate transit fee.
Resources:
More about the budget proposal – https://njcpa.org/njbudget -
This episode is all about NOCLAR: noncompliance with laws and regulation. Brad recaps the AICPA Professional Ethics Executive Committee's Interpretation on items including NOCLAR and discusses the PCAOB's controversial NOCLAR proposal.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
AICPA Professional Ethics Executive Committee Issues Interpretation on items including NOCLARAICPA Statement on Auditing Standards No. 147Amendments to PCAOB Auditing Standards related to a Company’s Noncompliance with Laws and RegulationsRecording of PCAOB virtual roundtable on the NOCLAR proposalAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
Host Sean Stein Smith, CPA, welcomes Garrett Wagner, CPA, who shares his first-hand experiences with succession planning and provides tips and recommendations for firm leaders to ensure the successful continuation of their firms.
Resources:
Succession planning articles, resources and events: https://njcpa.org/hub/succession -
In this episode, Brad and Frank discuss the ins and outs of personal financial statements: methods of presentation, estimated current value, investment in a closely held business, real estate, compilations and more.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
Download Frank’s notesFASB ASC 274 – Personal Financial StatementsAR-C Section 80 – Compilation EngagementsAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
Selling a business involves meticulous planning and strategic actions long before the “For Sale” sign goes up. Accountants play a pivotal role in helping clients with initiatives that can significantly boost the value of their company over several years. NJCPA member Sal Schibell, CPA, discusses strategies aimed at maximizing a business’s value years before the sale.
Resources:
Succession planning articles and eventsRead Sal’s article, “Succession Planning: Key Pre-Sale Strategies for Optimal Returns” -
Brad is joined by Paula Young, CPA, a partner at EisnerAmper, to discuss FAS 95 – Statement of Cash Flows: direct versus indirect method; what should be put into each of the three main sections; common errors and issues; “big R” and “little r;” and more.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
Summary of FASB Statement No. 95Accounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest GroupWebinar: Listening to the Statement of Cash Flows – March 9, March 19 and additional datesWebinar: What You Can Learn from the Statement of Cash Flows – March 28 or April 25NJCPA Convention & Expo, June 11-14, 2024 -
The 150-credit-hour requirement for CPA licensure is the topic of much debate. We recently surveyed more than 1,000 NJCPA member about the topic. Hear what they had to say about whether new hires without 150 hours pursue CPA certification, whether there are any discernable skill differences among candidates with 120 hour versus 150 hours, whether there should be alternatives to the 150 hours, and more.
Resources:
CPA Pipeline Knowledge Hub – https://njcpa.org/pipelineWhat do you think about the 150-hour requirement? Let us know at [email protected] Convention & Expo, June 11-14 in Atlantic City – https://njcpa.org/convention -
Get an update on two IRS code changes impacting crypto transactions: Section 6050I, which went into effect for all crypto transactions taking place after Dec. 31, 2023, and Section 6045, which is set to take effect for transactions occurring after Jan. 1, 2025. Get the ins and outs on these filing requirements.
** Earn CPE credit for this episode. Find out how at https://njcpa.org/nano. **
Resources:
Crypto articles, resources and events – https://njcpa.org/hub/crypto -
Learn about three recent accounting standards updates and proposals: A FASB proposal related to debt conversion, AICPA guidance on the definitions of publicly traded entity and public interest entity; and a GASB statement on disclosure of certain risks.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
FASB Proposed ASU – Debt with Conversion and Other OptionsAICPA Professional Ethics Executive Committee authoritative guidance on the new definition of publicly traded entity and a revised definition of public interest entityGASB Statement No. 102, Certain Risk DisclosuresAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
ESG – environmental, social and governance – is considered by some to be a buzzword or a “woke” issue, while others see it as a business imperative. As a result, some companies are “greenhushing,” opting to stay quiet about their sustainability goals. In this episode, Andrew Winston, a leading expert on sustainability and corporate strategy, talks about the anti-ESG movement and the important role that CPAs can play in ESG reporting.
Resources:
ESG Knowledge Hub – https://njcpa.org/hub/esgWebinar: The CPA’s Role in ESG Reporting (Feb. 28 or March 7) – https://njcpa.org/plusMore about Andrew Winston - https://andrewwinston.com/ - Visa fler