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e-Services Unavailable Memorial Day Weekend, Gen Z Enters the Workforce, New Videos Promote Financial Literacy to Teens and more

by MICPA | May 23, 2017   ()

e-Services, Transcript Delivery System Unavailable Memorial Day Weekend
The IRS will conduct systems maintenance beginning 6 p.m. Friday, May 26 through 5 a.m. Tuesday, May 30. During this time, e-Services Transcript Delivery System, TIN Matching, e-file and ACA applications will not be available. Another update is planned for June 15-19.

What You Need to Know as Gen Z Enters the Workforce
The first members of Generation Z are graduating from college and entering the workforce. This Journal of Accountancy article explains why it would be a big mistake to expect them to behave like millennials.

New Videos Promote Financial Literacy to Teens
A new video module series, Money Minutes, is now available to help promote financial literacy among high school students. The videos feature expert advice from members of the AICPA’s National CPA Financial Literacy Commission on topics ranging from student loans, debt, budgeting and more.

FASB Issues Accounting Standards Update on Service Concession Arrangements
In a new accounting standard issued last week, FASB hopes to provide clarity on how an operating entity determines the customer of the operation services for transactions. View Accounting Standards Update No. 2017-10, and read more in this Journal of Accountancy article.

ASB Proposes Auditing Standard Specific to ERISA Plan Financial Statement Audits; Comments Sought Through August 21
The AICPA Auditing Standards Board has issued an Exposure DraftProposed Statement on Auditing Standards (SAS), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, specific to audits of financial statements of employee benefit plans that are subject to the Employee Retirement Income Security Act of 1974. READ MORE

Need Help With Your CPE Tracker?
If you are setting up your Tracker and need assistance, the MICPA staff is ready to help. For more information, visit micpa.org/trackerhelp or call the Tracker hotline at 248.267.3700 and choose option #2.

Survey: More Than 4 in 10 Workers Considering Quitting; Executives Don't Recognize Why
More than four in 10 workers (42 percent) in a new survey from staffing firm Robert Half said they're likely to look for a new job within the next year. For respondents ages 18 to 34, the number likely to seek new employment in the next 12 months jumps to 68 percent. Are you missing the red flags? Robert Half offers five tips to reduce turnover. READ MORE

FAF Issues Annual Report: “Better Standards. Better-Informed Decisions.”
The Financial Accounting Foundation posted its 2016 Annual report highlighting the standard-setting activities of the FASB and the GASB in 2016—and how they contribute to better-informed decisions by investors, lenders, citizens, and others who rely on high-quality financial reporting. READ MORE

Source: MICPA
Source: MICPA

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