|
| Weekly News |
|
AICPA members weigh in on IRS service levels
JOURNALOFACCOUNTANCY.COM
Long wait times to reach an IRS representative on the phone shortened somewhat this filing season, compared with 2015, but the quality of the IRS’s responses is lacking. Overall, a new AICPA survey shows satisfaction with the agency’s service remains low: 43% of those surveyed indicated they were either somewhat or very dissatisfied with the level of service they received during the past tax filing season.
|
What You Need to Know About the New DOL Overtime Rules
ACCOUNTINGWEB.COM
As you may know, the US Department of Labor released its much-anticipated new overtime rules last week, making an estimated 4.2 million more workers eligible for overtime pay. For accountants, the new overtime rules won’t only impact how they operate internally, but as trusted advisors to business owners, you’re likely to receive questions from clients about how to best navigate these regulations.
|
5 Steps Small Businesses Must Take To Prepare for New Overtime Pay Rules
CPAPRACTICEADVISOR.COM
Most businesses aren’t ready for the new overtime and worker classification changes to the Fair Labor Standards Act (FLSA) that the Department of Labor recently published, which will impact to millions of U.S. workers and their employers. The rules go into effect December 1, unless Congress intervenes to prevent or modify them.
|
NASBA Provides First-Ever Official Count of CPAs
ACCOUNTINGTODAY.COM
The National Association of State Boards of Accountancy has released for the first time in history an official CPA population statistic representing the total number of individual, U.S.-licensed CPAs. Can you guess the total number?
|
Financial Support for Colorado Accounting Students
STUDENTS.COCPA.ORG
The Educational Foundation of the COCPA provides scholarships to students in Colorado who are on the path to a CPA career. Scholarships of $2,500 are awarded for the fall term and may be applied to tuition, textbooks, fees, and on-campus room and board.
Applicants must apply by June 1, be members of the COCPA, and must be juniors, seniors, or graduate students attending eligible Colorado colleges and universities. Click hrere to learn more.
|
|
AICPA CIMA Joint Venture - Get educated. Form your opinion. Vote.
AICPA.ORG
The AICPA is asking members to support a proposal to create a new association with The Chartered Institute of Management Accountants representing the entire accounting profession, while preserving our respective membership organizations. This is an incredible opportunity to build on the strength of our profession today to ensure its continued relevance amid rapid technological change, demographic shifts and regulatory complexity, domestically and around the world.
|
How CFOs can adapt to disruptive forces
CGMA.ORG
CFOs, like the companies they work for, must adapt quickly to be able to stay ahead of technological changes, ever-growing risks, and increased stakeholder scrutiny and regulation.
|
Financial Restatements Declined Steeply Last Year
ACCOUNTINGTODAY.COM
For the past nine years, reissuance restatements have declined and have now reached the lowest number since the 8-K disclosure requirement came into effect in 2004. In 2015, revision restatements equaled approximately 76.2 percent of the restatements disclosed by 10-K filers. This percentage is the same as the prior year and is tied for the highest percentage calculated since the disclosure requirement came into effect.
|
AICPA CIMA Joint Venture - Change: As Necessary as it’s Inevitable
AICPA.ORG
I see the proposal as also planting an important seed for the next generation, just like those who came before did for us. It’s rare that we get the chance to make such a direct impact in the future of a profession.
|
Controllers Gain Key Insights from Technology-Driven External Audits
ACCOUNTINGWEB.COM
According to a new survey by KPMG LLP and Forbes Insights, controllers are expected to do far more than report data and tend to compliance. They are considered the underpinning of an organization’s strategies – the go-to person for interpreting broader marketplace and competitive issues.
|
Is Conflict Avoidance Holding Your Team Back?
LINKEDIN.COM
Develop the skill of open, honest and direct communication. Practice having hard conversations. Ask yourself, why am I avoiding this? Establish an atmosphere of caring and trust and promote candor with respect.
|
|
Join Your COCPA for 2016 Leadership Council
COCPA.ORG
Leadership Council this year is a “give back” rather than a “tell us what you think.” It’s about empowering you to move forward into the future successfully. Come and bring your colleagues, your rising stars, and your thirst for trying something new.
|
High Corporate Tax Rate Puts US Businesses at a Competitive Disadvantage
ACCOUNTINGWEB.COM
At 41.1 percent, the corporate tax rate in the United States is the highest worldwide, according to a new study by UHY, a global accounting and consultancy network.
|
Do you have an Innovation Fund at your firm?
ACCOUNTINGTODAY.COM
Ultimately, innovation is a long-term strategy, needs a long-term focus, and so someone needs to officially take the reins for you to achieve success. Ultimately as our profession continues to evolve, innovation is less and less an option -- and more and more a requirement for success to keep our firms viable and achieving their full potential.
|
Technology Helping, Not Thwarting, Fraudsters
ACCOUNTINGTODAY.COM
Criminals are using technology to perpetrate nearly a third of their frauds, according to a new survey by KPMG, while organizations are lagging behind on the use of technology such as data analytics to detect those frauds.
|
Marijuana sales tax revenue huge boon for Colorado cities
DENVERPOST.COM
From small towns that barely dot the map to the state’s largest urban areas, revenue from retail marijuana sales is helping communities address homelessness, send children to college, patch potholes, secure water rights and fund an array of projects.
|
COCPA Denver Metro Event: Update on CO Marijuana Laws
COCPA.ORG
Join your COCPA for an update on all the Marijuana law changes in Colorado for the 1 hour CPE presentation. Mr. Seigneur will focus on what Colorado CPAs need to know when working with clients in the cannabis sector both with respect to traditional services and appraisal & litigation related services.
|
Art of Accounting: CPAs Who Leave Public Accounting
ACCOUNTINGTODAY.COM
Contrarily public accounting is thriving with a shortage of good people and age doesn’t seem to matter for those with a solid public background. I never get resumes from people in public accounting looking for jobs—they get them quickly. Further, none of the vagaries of an individual company seems to affect job status since the CPA’s skills are portable and readily transferrable within our profession.
|
|
| ADVERTISEMENT |
|
|
| Resources |
AICPA Responds to Department of Labor’s Overtime Rule
AICPA.ORG
“The AICPA has clearly and consistently outlined its concerns that the Department of Labor (DOL) proposed rule will increase the administrative burden in complying with the regulations while dramatically increasing employers’ payroll costs.
|
Statement of Cash Flows (Topic 230)
FASB.ORG
Proposed Accounting Standards Update - restricted cash a consensus of the FASB Emerging Issues Task Force.
|
FASB Accounting Standards Update
FASB.ORG
Identifying Performance Obligations and Licensing
|
Understanding Your Credit | COCPA Financial Literacy Committee
YOUTUBE.COM
Stephen McQueen presents, "Understanding Your Credit" at the Financial Literacy Committee Train the Trainer workshop at the COCPA. This presentation helps individuals understand the importance of credit reports, how a FICO score is developed, and how to improve a credit score.
|
| Opportunities |
Love Books? Love Your Library? We Need Your Help!
Jefferson County Library Foundation is seeking volunteers to help us in our counting room at the Spring Whale of a used book sale, June 2 – June 5, at the Jefferson County Fairgrounds, in Golden, Colorado.
We schedule two accountants per four-hour shift, who will be responsible for collecting money, creating and keeping records, providing change to cashiers and making a deposit, under the guidance of a JCLF staff member. Each volunteer gets snacks, lunch and two FREE books per shift, as well as our gratitude. Volunteering is easy, just contact Jenaveve Linabary, at 303-403-5079 jenaveve.linabary@jeffcolibrary.org.
|
Denver’s Early Childhood Council Seeking Board Member
Denver’s Early Childhood Council is seeking experienced Board Members to assist the Council in taking the work of our organization to the next level. This will be a rewarding opportunity to work with a vital organization that is important for children and families in Denver. Please visit www.denverearlychildhood.org to learn more about our work, or contact Scott Burns at 303-349-1091 to discuss this opportunity further.
|
ACCESS Housing Seeking Volunteer Accountant
ACCESS Housing - http://acchouse.org - provides services to homeless families. Seeking degreed volunteer Accountant; 3+ years accounting, CPA welcome; assists with financials and audit for short-term project or long-term involvement. Contact: Angela Bornemann, ExecDir, angela@acchouse.org.
|
| ADVERTISEMENT |
|
|
|
|