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Michigan Treasury Online, Benchmarking, MAP Survey and more

by MICPA | Jun 21, 2016   ()

AICPA, CIMA Members Overwhelmingly Approve Proposal to Advance Profession
Members of the AICPA and The Chartered Institute of Management Accountants have voted in separate ballot measures to approve a proposal to create a new international accounting association that will integrate operations and represent the entire accounting profession while preserving the membership bodies of both organizations. Support for the proposal topped 86% of ballots cast in both votes. READ MORE

Michigan Treasury Releases Form to Calculate Personal Property Distribution for Municipalities
The Michigan Department of Treasury has developed Form 5448 (FYE 2012 Percentage of General Operating Millage Used to Fund Essential Services) that municipalities may use to calculate and report their personal property distribution for essential services. The form is due by July 15. READ MORE

More Updates Coming for Michigan Treasury Online
Watch for significant changes to the Michigan Treasury Online filing portal that will take effect on June 30, including further enhancements to the authentication process, increased confirmation number details and pre-population of fuel credit schedules.

Benchmarking: What Can Data Do for Your Firm?
You’re invited to participate in the PCPS/CPA.com National Management of an Accounting Practice (MAP) Survey. When it comes to decision making—whether on day-to-day issues or long-term strategic planning—it’s a lot easier to be confident about your choices when you know how firms like your own are handling similar concerns. This blog post describes the benefits of benchmarking data.

IRS Makes Electronically Filed Form 990 Data Available in New Format
Publicly available data on electronically filed Forms 990 will now be available for the first time in a machine-readable format through Amazon Web Services (AWS). READ MORE

Information Reporting Deadline Approaches for Employers and Health Coverage Providers
If you are a self-insured employer, applicable large employer or health coverage provider, June 30 is the deadline to electronically file information returns with the IRS regarding health coverage. READ MORE

FASB Releases Financial Instruments—Credit Losses Standard
The Financial Accounting Standards Board recently issued Accounting Standards Update 2016-13, which requires timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. Read more in FASB in Focus or on the AICPA Financial Instruments webpage.

Four MICPA Members Named to Crain’s Detroit 100 Most Influential Women
Four members of the Michigan Association of Certified Public Accountants are among those named Crain’s 100 Most Influential Women in Michigan. Crain’s Detroit Business has periodically highlighted the top women making an impact as leaders in fields ranging from accounting to law to nonprofits. Crain’s published a similar list in 1997, 2002 and 2007, focusing on Southeast Michigan. This year was its first statewide listing, winnowed from more than 300 nominees, according to the publication’s website. READ MORE

Are Millennials Ready for the Corner Office?
Most CFOs have faith in millennial workers' abilities to become future leaders, recent research from Robert Half shows. Eighty-five percent of CFOs interviewed said they are confident their millennial employees -- the swath of workers born between 1978 and 1999 -- possess management potential. The survey also found businesses are offering professional development resources to help these workers prepare for leadership positions.  READ MORE

Source: MICPA
Source: MICPA

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