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| Brought to you by the Maryland Association of CPAs |
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| | Maryland General Assembly |
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| | | MACPA, NFIB, Chamber object to paid leave bill | | The Senate Finance Committee heard testimony yesterday on the Maryland Healthy Working Families Act. The MACPA joined the Maryland Chamber of Commerce and the National Federation of Independent Businesses in opposing the bill. (From CPA Success) |
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| | Augustine Commission tax proposals subject of joint hearing | | A set of tax proposals developed by the Maryland Economic and Business Climate Commission, known as the ‘Augustine Commission’ for its Chair, Norman Augustine, was taken up at a joint hearing of the Senate Budget and Tax Committee, and House Ways and Means Committee, earlier this week. (From CPA Success) |
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| | | | | The future of finance is strategy: New Oracle event 'The Modern Finance Experience'' | | The world is changing before our very eyes — and it’s changing at warp speed. That means our businesses are changing, and that means our jobs are changing. In short: This ain’t your father’s finance department. The folks at Oracle understand that. They have built an event that focuses on the evolving role of the finance professional, and we think it’s one of the most important new events on our radar screen. (From the BLI blog) |
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| | FASB's Private Company Council: At a turning point? | | In this two-part series, we raise the question of whether FASB’s Private Company Council will be looked upon to play a larger role, in light of changes in leadership and the recent three-year review of the PCC’s operations by the Financial Accounting Foundation. PCC Chair Candy Wright and MACPA member Liz Gantnier, president of Stegman and Company, share their views. (From CPA Success) |
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| | | | Great expectations: How the CFO's role is growing | | CFOs have always provided guidance on company strategy and been a sounding board for the CEO’s ideas, hopes and fears. It’s hardly surprising they are often first in line to succeed the chief executive. (From Oracle’s Modern Finance Blog) |
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| | Tech CFOs have tax, revenue recognition concerns | | U.S. technology company CFOs say the high US corporate tax rate hurts their competitiveness in the global marketplace, while on the financial reporting side, many haven’t decided how they will tackle the new accounting rules on revenue recognition. The information was reported in a recent survey by BDO. (From AccountingWEB) |
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| | | | IRS revamps audit process for big business | | The Internal Revenue Service has released a new guide for auditors in its Large Business and International (LB&I) division outlining a new examination process for big businesses.(From Accounting Today) |
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| | New tax laws offer big benefits to some small businesses | | Small businesses in the U.S. have new opportunities to benefit from major tax credits because of two new laws. The enactment of the Omnibus Spending Bill H.R. 2029 and the PATH Act (Protecting Americans from Tax Hikes Act of 2015) at the end of 2015 have great potential for businesses, according to ADP. (From CPA Practice Advisor) |
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| | IRS warns payroll and HR pros of W-2 scams | | The Internal Revenue Service has issued an alert to payroll and human resources professionals to beware of an emerging phishing email scheme that purports to be from company executives and requests personal information on employees. (From CPA Practice Advisor) |
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| | New House task force sets goals for tax reform | | A new task force led by the chairman of the House’s tax-writing committee released its mission statement and broad policy goals on March 2 for fixing the US tax code. (From AccountingWEB) |
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| | | | Fuzzy math accounting gets fresh SEC scrutiny | | With more and more companies promoting bookkeeping that deviates from Generally Accepted Accounting Principles, the Securities and Exchange Commission is warning about getting too creative. The SEC is worried some companies might be pushing the envelope, with Chair Mary Jo White warning in December that non-GAAP figures can be misleading. (By Bloomberg, via AccountingToday) |
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| | PCAOB announces Investor Advisory Committee members | | The Public Company Accounting Oversight Board today announced the members of its Investor Advisory Group (IAG) for the 2015-2018 term. The IAG is a forum for the investor community to provide views and advice on matters affecting investors and the work of the PCAOB. (From the PCAOB) |
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| | Accounting-as-a-service: The new business model | | Human processes are dead, long live human advice and interaction. With the move away from taxation and compliance for accounting practice’s bread and butter caused by the introduction of technology now and in the future, we will see a replacement of any repetitive manual data entry and processes with software. (From LinkedIn) |
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| | The bilingual CPA: Are you fluent in IFRS and U.S. GAAP? | | Accountants preparing and auditing financial statements for U.S. companies stand a good chance of encountering IFRS. The SEC requires financial statements to be filed in U.S. GAAP, and U.S. users of financial statements, particularly lenders, tend to follow the SEC preference, but IFRS is an integral part of U.S. business. (From The Journal of Accountancy) |
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| | 5 reasons to formalize mentoring programs in accounting firms | | Prior to the recession, young leader training and formal mentoring programs to support recruitment and retention were all the rage. Well, mentoring is more critical than ever, but for different reasons and in slightly different forms. (From CPA Practice Advisor) |
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| | | | Return from the wings: Encore careers | | A variety of market forces and trends in the profession have caused many near-retirement accountants to look for an encore in the profession. MACPA Vice Chair Lisa Cines, a partner at Dixon Hughes Goodman, moderated a panel on encore careers at the AICPA Women’s Global Leadership Summit in San Francisco. Cines, herself in an encore career after having spent about 30 years at another firm, sat down with the JofA to discuss second acts. (From the Journal of Accountancy) |
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| | Samantha Bowling: Turning struggles into strengths | | If you have read the last two posts in our “Share Your Story” series, you might have noticed a theme − one that is carried here as well. Just like Tim Samuel and Lisa Cines, Samantha Bowling was inspired to pursue accounting as a career by a class in high school. (From CPA Success) |
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| | | | Cohn Reznick's battle for top talent | | For Frank Longobardi, chief executive officer of CohnReznick, staffing is the biggest problem facing his and other CPA firms across the country. (From CPA Trendlines) |
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| | | | The myths and realities of app integration | | In the world of accounting-related technology, it has become essential that so-called third-party applications integrate with core platforms and software. However, most users do not know what true integration is supposed to look like and are often disappointed when they go to work. (From AccountingWEB) |
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