Every CPA has a story about taking the exam. These are some of the best.
Being responsive to clients
Prompt, effective responses to clients’ concerns are essential for firms and CPAs, who take pride in their reputation for service.
Microsoft Excel: How to reference vertical cells horizontally
A handy trick makes it possible to reference vertical data horizontally.
No tax fraud for issuing Form 1099, Seventh Circuit holds
The payee’s failure to explicitly reject a check outweighs the payer’s restrictive endorsement.
New audit data standard addresses inventory subledger
Standardizing data can improve efficiency of the audit process.
What’s your fraud IQ?
How much do you know about the foundational principles of an effective fraud risk management program? Test your knowledge in this month’s 5-question quiz.
Audit documentation: Tips for getting it right
Steer clear of three common misconceptions about documentation that can derail an otherwise high-quality audit.
FASB issues new amortization accounting rules for callable debt securities
Stakeholders said current GAAP distorts interest income.
U.S. tax and FASB’s new paradigm for revenue recognition
Companies must prepare for unforeseen implications for tax planning.
GAO proposes revisions to government auditing standards
The topics include competence, CPE, independence, quality control, and internal control.
FASB updates requirements for employee benefit plans
The changes relate to disclosure and presentation for master trusts.
Microsoft Word: How to connect numbered lists
How to connect a subsequent numbered list to a previous numbered list in Microsoft Word.
Theresa Richardson, CPA
Theresa Richardson, CPA, is a partner and the chief talent officer at WithumSmith+Brown. As chief talent officer, she reports directly to the firm’s CEO and oversees all aspects of talent.
FASB changes presentation of defined benefit costs
The current presentation was said to combine heterogeneous elements.
Reverse like-kind exchanges get Tax Court approval
Ruling rejects the IRS’s requirements for third-party exchange facilitators.
Tax principles for the digital age
The AICPA revises its Guiding Principles of Good Tax Policy to respond to challenges in tax reform, economic efficiency, global reach, and securing taxpayers’ information.
More R&D tax help
PATH Act enhancements make the credit more attractive to a wider range of taxpayers.
FASB clarifies scope of asset derecognition guidance
Accounting for partial sales of nonfinancial assets is also addressed.
What they’re reading
Business and leadership books recommended by this issue’s guest editors can inform and inspire their fellow CPAs.
Be your own best ally
Learn ways to advocate for yourself at work—without appearing pushy.
Features
SPONSORED REPORT
Preparing clients for new provisions next tax season
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.