The economy is not sliding back into recession, but GDP will only expand at an annual rate of 2% to 2.5% until the housing market recovers, according to Martin Regalia, senior vice president–economic and tax policy for the U.S. Chamber of Commerce. Speaking Tuesday to the AICPA governing Council in
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Professional development
Eight Ways to Expand Your Mentoring Network
Mentoring relationships are critical for success in the accounting profession, yet many CPAs overlook the benefits of a mentor/protégé connection. A mentor can provide guidance on tackling challenging assignments or insights into managing time commitments. In addition, mentors can recommend protégés for important and highly visible projects, sponsor protégés in
Leadership Academy Class of 2011 Selected
CPAs under the age of 36 make up the third annual AICPA Leadership Academy. This diverse group of CPAs will attend sessions in October to help develop the skills necessary to become the next generation of leaders in business, industry, government and the accounting profession. Upon graduation from the Leadership
Retreat to Move Forward
With the slow economy still making times—and dollars—tight, it might seem counterintuitive for a CPA firm to take its staff to the beach for an annual retreat. But handled correctly, such off-site activities can be effective investments of time and money. Here are some ideas for making the most of
Survey Shows Hiring Plans Rising for Accountants, Other Professionals
Twelve percent of CFOs interviewed for the quarterly Robert Half Professional Employment Report said they planned to hire professional-level accounting and finance staff in the fourth quarter of 2011, while 7% foresaw cutbacks. CFOs were increasingly optimistic about the hiring outlook, according to the report. The net 5% of financial
AICPA, NASBA Propose Changes to CPE Provider Standards
The AICPA and the National Association of State Boards of Accountancy (NASBA) on Tuesday issued proposed revisions to the Statement on Standards for Continuing Professional Education (CPE) Programs, the framework for the development, presentation, measurement and reporting of CPE programs. The revisions would be the first since 2002. The AICPA
KPMG Member Firms Set to Hire 75,000 Graduates Worldwide
KPMG International’s member firms plan to hire about 75,000 graduates worldwide over the next three years, a 25% increase in the firm’s historical staffing target. The global member firm network identified a need to add about 250,000 new hires over the next five years, and graduate recruitment will play a
NASBA and AICPA Announce Launch of CPAmobility.org
The National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA) announced the launch of CPAmobility.org – an online tool designed to help Certified Public Accountants navigate the new practice privilege requirements that allow CPAs to more easily practice across state borders. A
CIMA Launches Advanced Diploma in Islamic Finance
The Chartered Institute of Management Accountants (CIMA) launched its new advanced diploma in Islamic finance (CADIF) program July 7 at the Islamic Finance News 2011 Issues & Investors Europe Forum in London. The qualification is the first advanced diploma in Islamic finance launched by a professional chartered accountancy body, according
PwC Investing $100M in Africa
PricewaterhouseCoopers International is rolling out a growth strategy for Africa that includes investing $100 million in people and infrastructure. The Big Four firm said it plans to hire an additional 8,000 partners and staff over the next five years as it builds an integrated advisory business for the continent. In
Specialty Credential Exam Scheduling and Offerings Expanded
The Institute is expanding registration and exam options for its specialty credentials. Registration for the Personal Financial Specialist (PFS), Accredited in Business Valuation (ABV) and Certified in Financial Forensics (CFF) exams is now open year-round, and each exam will be offered twice a year. Previously, registration was limited and exams
Accounting Enrollment, Hiring Increase
CPAs looking to hire talented young accounting grads as well as students preparing to graduate need to know what their competition looks like. The AICPA’s 2011 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits, which was released in May, identifies key trends in accounting
Pathways Commission Forges Ahead
Continuing its work of engaging the broad accounting community in accounting education, the Pathways Commission held a public meeting Feb. 26 in Atlanta. The commission invited the public to comment and make recommendations about future paths through higher education to accounting practice. The commission is a joint project of the
How the CPA Exam Is Scored
Anyone who has taken the Uniform CPA Examination, prepared for it, or been involved in the CPA licensure process knows that the passing score is 75. But very few understand what that 75 means. In January, the exam structure had its biggest overhaul since the exam switched from paper and
Business Development Skill Builders for Young CPAs
Many firm leaders think that young CPAs lack the necessary business development skills to move to the next level or become a future leader of the firm. However, young CPAs are often not given the opportunity to develop those skills on a daily basis. Business development is a difficult thing
Researchers Win Management Accounting Award
Eddy Cardinaels and Eva Labro received the American Accounting Association’s Greatest Potential Impact on Practice Award for research in management accounting. Sponsored by the AICPA, the Chartered Institute of Management Accountants and the Society of Management Accountants of Canada, the award recognizes academic papers that are considered most likely to
What Does It Take to Lead?
Confidence. Passion. Emotional Intelligence. These are all traits that successful accountants say are needed to be an effective leader in the profession. Whether choosing to work as a CFO, serve in academia, or climb the ranks to partner of a local or national firm, certain skills undeniably top the list
Institute Recognizes CPA Exam’s Top Scorers
The AICPA announced the winners of the 2009 Elijah Watt Sells Awards, which are presented annually to the 10 candidates earning the highest cumulative scores on the four sections of the Uniform CPA Examination. For the 2009 award, however, several candidates received identical cumulative scores, resulting in a tie and
Minority Accounting Students Scholarships Announced
The AICPA Foundation awarded $254,500 to 92 recipients of the AICPA Scholarship for Minority Accounting Students for the 2010–2011 academic year. The scholarship program, co-funded by Robert Half International and the New Jersey Society of CPAs, was created in 1969 to increase ethnic diversity in the CPA profession. Over four
Demski Honored for Lifetime Achievement in Management Accounting
Joel Demski, Ph.D., received the 2010 Lifetime Contribution Award from the Management Accounting Section of the American Accounting Association. Sponsored by the AICPA, the award recognizes individuals who have made an important mark on management accounting education, research and practice. Demski was honored for his research and teachings on applications
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