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| Brought to you by the Maryland Association of CPAs |
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| | | | | AICPA lands $120,000 grant for Maryland apprentices | | The American Institute of Certified Public Accountants has received a grant of nearly $120,000 from the Maryland Department of Labor to expand its Registered Apprenticeship for Finance Business Partners in the state. (From the MACPA blog) |
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| | | Podcast: A blueprint for growth | | Maryland is back at the top of the food chain in the accounting and finance world these days, now that former MACPA Chair Anoop Mehta has taken the reins for a year-long stint as chair of the American Institute of CPAs’ Board of Directors. (From the MACPA) |
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| | | | Is an accounting career recession proof? | | Increasing recession and layoff talk may force some to start looking over their shoulders for a human resources representative, but for accounting and finance professionals the anxiety may be misplaced. (From Financial Executives International) |
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| | SEC presses for economic risk disclosures | | The shifting outlook for the economy is “continually introducing new risks” that companies should disclose in financial reports, Kevin Vaughn, senior associate chief accountant with the SEC, told the Financial Accounting Standards Advisory Council at a meeting Tuesday. (From CFO Dive) |
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| | Recession likely from Q4 through Q1 2023, Conference Board says | | The U.S. economy will probably tip into a “brief and shallow” recession from the fourth quarter through the first quarter of 2023 as the Federal Reserve raises borrowing costs to reduce demand and curb the highest inflation in nearly four decades, Conference Board Chief Economist Dana Peterson says. (From CFO Dive) |
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| | CFOs see hiring woes persisting into 2023: Gartner | | Just over half of CFOs surveyed cited hiring and retaining staff as the most difficult task over the next 12 months, according to a July Gartner study which asked 234 finance chiefs to name the top three challenges ahead. (From CFO Dive) |
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| | | | MACPA Town Hall (September 2022) | | Join us for this MACPA all member update. We will host these monthly to bring you the latest in what impacts you and the CPA profession. |
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| | | 2022 Four for Fall Series | The Four For Fall CPE Series is a two-day CPE event offering courses in a wide range of topics. In person only. Each day there are two, four-hour CPE sessions, with different options for each session.
Choose courses involving:
Governmental topics, Accounting and Auditing, and Ethics |
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| | | Personal Financial Planning Conference | | Your clients trust you with their financial security – make sure you’re advising them with the best information available. The Personal Financial Planning Conference is designed to give you up-to-date insights into the issues and trends that impact local, regional, and global markets. You’ll also hear about: |
| • | An overview the cyber threat landscape |
| • | Using social media to boost your personal brand |
| • | Annuities 101 |
| • | Upcoming retirement legislation |
| • | And more |
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| | | | | IRS updates Work Opportunity Tax Credit guidance | | The Internal Revenue Service published updated information about the Work Opportunity Tax Credit to help employers deal with a tight labor market and after a scathing investigative report about how the longtime tax credit is being abused. (From Accounting Today) |
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| | IRS: Improperly forgiven PPP loans are taxable | | The IRS has issued guidance addressing improper forgiveness of a Paycheck Protection Program loan. The guidance confirms that, when a taxpayer’s loan is forgiven based upon misrepresentations or omissions, the taxpayer is not eligible to exclude the forgiveness from income and must include in income the portion of the loan proceeds that were forgiven based upon misrepresentations or omissions. (From the IRS) |
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| | | | PCAOB plans to update some long overdue auditing standards | | The PCAOB intends to update some of its older auditing standards, some of which it inherited two decades ago from the American Institute of CPAs after passage of the Sarbanes-Oxley Act of 2002, and not a moment too soon. (From Accounting Today) |
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| | 85% of companies still actively hiring despite recession fears | | While CFOs are tightening budgets in preparation for a likely economic downturn, their counterparts in human resources are still focused on putting the best quality employees in an ideal work environment, according to a recent survey. (From CFO.com) |
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| | CFOs should no longer view cybersecurity as insurance | | As external economic factors continue to drive CFOs’ thought processes and allocation decisions, reliance on data to both innovate and cut costs is leaving many organizations much more vulnerable to cybersecurity breaches than they are currently aware. (From CFO.com) |
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| | Most CFOs say controllership not ready for digital future | | Nearly two out of three CFOs and other financial executives said their controller departments are, at best, somewhat prepared to meet future demands in data analytics, governance and compliance, technology such as cloud-based finance and advanced delivery models such as flexible work, Deloitte and the Institute of Management Accountants found in a survey. (From CFO Dive) |
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| | CFOs need to ‘get smart’ about ESG reporting | | The business implications of environmental, social and governance emerging mandates have been top of mind for financial executives in the wake of the new reporting and disclosure requirements proposed in May by the Securities and Exchange Commission. (From CFO Dive) |
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| | | | FASB mulls lease accounting standard change as it moves HQ | | The Financial Accounting Standards Board is considering a change in its leases standard to address leases that are under the common control of related-party businesses as FASB’s parent prepares to move headquarters within Norwalk, Connecticut, and there may be changes in federal accounting standards for leases as well. (From Accounting Today) |
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| | Why firms shy away from CAS | | Why fall into the same trap that other firms have fallen into during their client accounting services journey? If you know what those traps are, you will save significant money and time in establishing your CAS practice. (From CPA Trendlines) |
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| | Five cash reports you can’t live without | | Cash is the lifeblood of a business. Cash amounts. Cash flows. Cash changes. No matter what anyone tells you, cash is the bottom line you must watch and accumulate. (From CPA Trendlines) |
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| | Diversity, equity, inclusion |
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| | | Gender influences evaluations, career advancement | | An employee’s gender influences how managers evaluate their past performance and their potential for advancement, with females seen as having less ability but more potential, according to a new study based on accounting information. (From Accounting Today) |
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| | Study: Companies get stock boost from appointing Black CEOs | | When publicly traded companies appoint a Black CEO, their stock price generally rises. This is the conclusion borne out of a study outlined in the Strategic Management Journal. Researchers came to this conclusion after examining nearly 5,000 CEO appointments over 20 years, from 2001-2020. (From Accounting Today) |
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| | | | The building blocks of a great place to work | | The American Society of Clinical Oncology has had flexible schedules and results-oriented work in place since before the pandemic. The policies are the foundation for staff well-being and success in accomplishing ASCO’s mission. (From Associations Now) |
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| | | | Treasury seeks comment on crypto’s illicit finance risks | | The U.S. Treasury Department is seeking public comment on the possible illicit finance and national security risks posed by the use of digital assets, as part of the agency’s mandate under President Biden’s March executive order to study the development of cryptocurrency. (From The Wall Street Journal) |
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| | Treasury lays out action items for fighting digital asset crime | | The U.S. Treasury Department, in response to developments in the digital asset space, said it is committing to a coordinated interagency action plan for mitigating the illicit financial and national security risks associated with digital assets. The plan was outlined in a recent report, released as part of the March’s “Executive Order on Ensuring Responsible Development of Digital Assets,” which required the department to draft action items that could aid enforcement. (From Accounting Today) |
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| | | | Win a spot in CAS roadmap workshop! | | Botkeeper is excited to offer you a chance to win a seat in the next course to create the CAS practice you desire! Enter to win a spot for the Oct. 28-Dec 14 virtual Amy Vetter CAS Roadmap Workshop. Fill out the form here. (From Bookkeeper) |
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| | | Save time with AuditMiner's SOC 1 Toolkits | | We know it is a busy time of year, and AuditMiner’s SOC 1 toolkits are designed to save you and your team a lot of time! The SOC 1 Review Toolkit provides information identified in a service organization’s Type 2, System and Organization Controls Report. It’s an Excel workbook that comes pre-loaded with information identified by the service auditor and is designed to meet audit standards for review of the Type 2, SOC 1 report. The toolkits are $250 and can be purchased directly from our website. (From AuditMiner) |
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| | | Sept. 28 webinar: Circular 230: The Guide to Ethical Standards | | The Circular 230 is the guide for ethical standards when practicing before the IRS. What exactly is practicing before the IRS? This course dives into the circular itself and provides an overview to its contents and answers that question and discusses many more. This course discusses how these ethical guidelines relate to your everyday practice. Attendees will be refreshed and ready for the upcoming tax season. (From Intuit) |
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| | | AccounTrends: A podcast from Intuit Accountants | | Tune in to AccounTrends, Intuit Accountants’ dynamic podcast for tax and accounting professionals hosted by Intuit’s Jasen Stine. Updated every two weeks, we will bring you insights and advice from the accounting industry’s top experts and thought leaders. AccounTrends is available on Apple Podcasts, Spotify, and Google Podcasts. Subscribe today! (From Intuit) |
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| | | A simple solution to help your staff avoid burnout | | Empower your staff, improve processes, and save time and money with the SafeSend Suite workflow automation platform. From engagement letters and client organizers to assembly, delivery, and e-signing of tax packages, the SafeSend Suite makes it easy. Staff love reducing the time they spend on manual, labor-intensive tasks. Clients love the intuitive, consistent experience at every step of the tax engagement. And partners can rest easy knowing they are investing in staff that will stay with the firm. Schedule a demo. (From SafeSend) |
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| | | Get 20% off AccountantsWorld software | | AccountantsWorld, the first professional accounting software designed specifically to help you offer full Client Accounting Services, is now available to MACPA members at an exclusive 20% discount off their first-year cost. Learn more here. (From AccountantsWorld) |
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| | | Are your clients waiting for ERTC funds? Be their hero | | Many of your clients are still waiting on their funds from the Employee Retention Tax Credit. Read this blog post to find out how you can help them get their funding faster, so they can put it to work for their businesses. (From CPA.com) |
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| | | Free guide: Provide high-value sales and use tax services | | Many businesses are not fully aware of their exposure to changing state and local tax requirements. Now is the time to make sure your firm stands out as a top choice for those businesses in need of sales and use tax support. Here’s how. (From CPA.com) |
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