News

  • Art of Accounting: Black History and Women’s History Months

    February is Black History Month and March is Women’s History Month. Here is some information about the first black CPA and the first woman CPA.
  • Treasury: Completing the Free Application for Federal Student Aid is Critical When Seeking Financial Assistance for College

    LANSING, Mich. – The Michigan Department of Treasury is reminding students and their families that the very first step to take when applying for scholarships and other forms of financial assistance is completing the Free Application for Federal Student Aid, commonly referred to as the FAFSA.
  • Are You Ready For Generation Z?

    Generation Z is Coming! Gen Zs, who began entering the workforce in 2019, present both challenges and opportunities for chief financial officers and their teams. Organizations that recognize this generation’s unique skill sets and that are willing to invest the time and energy to allow them to flourish will have access to a talent pool that represents the most technologically advanced in history. The first generation raised on social media is also the most racially diverse group in US history; two additional benefits for any company that chooses to embrace the future.
  • MICPA Member Volunteers to Answer the Public’s Burning Tax Questions, and more

    MICPA Member Volunteers to Answer the Public’s Burning Tax Questions, GASB Establishes New Criteria for Financial Statement Disclosures, CDC Releases Interim Guidance on the Coronavirus for Businesses and Employers, and more.
  • CPAs Need To Watch These Health Care Pricing Rules

    Health care costs in the United States are usually shrouded in mystery for consumers, who often have little idea what charges are coming for care and few ways to shop around to get the best deal.
  • FASB to propose private company expedient for share-based payment accounting

    Accounting for employee share-based compensation could become less complex for private companies after FASB on Wednesday endorsed the decision by the Private Company Council (PCC) to propose a practical expedient for nonpublic entities.
  • Strategy Consulting Needs To Change And This Is How

    As a November 2019 article in The Economist suggests, strategy consulting is under significant pressure. Whereas it used to be one of the main pillars of the large consulting firms—McKinsey & Company, the Boston Consulting Group, Bain & Company and so on—it has become a marginal activity now, accounting for about just a tenth of their revenues. As the article explains, clients no longer want legions of consultants to provide them with advice. Instead they want them to put products and technologies in place that keep them ahead of the competition.
  • Just How Difficult Is It to Break Into Accounting As a Second Career?

    Around these parts we focus heavily on the “traditional” accounting track of school, degree, Big 4 job, CPA exam, and exit to greener pastures, usually in that order. It’s how it’s always been and likely how it always will be because as we know, it’s Big 4 or nothing in the world of accounting. We’re as guilty as anyone when it comes to focusing on the Big 4 and forgetting that there’s a whole wide world of other stuff out there.
  • Treasury Urges Eligible Businesses to Use New SUW EZ Return, and more

    Treasury Urges Eligible Businesses to Use New SUW EZ Return, IRS to Deliver Webinar on Gig Economy, Education Credit to Tax Pros, Is the Future of the PCAOB in Question?, and more.
  • Virtual Currencies: Additional Information Reporting And Clarified Guidance Could Improve Tax Compliance

    GAO is recommending that IRS clarify that part of the 2019 guidance is not authoritative and take steps to increase information reporting, and that FinCEN and IRS address how foreign asset reporting laws apply to virtual currency.

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