Hundreds of thousands of small businesses and millions of people have been waiting for a second round of Paycheck Protection Program (“PPP”) loans to keep businesses and professionals operational. The new law will help many of these individuals and businesses, but not all.
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Norwalk, CT—December 21, 2020—The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) intended to provide an accounting alternative that would reduce the complexity for certain private companies and not-for-profit organizations when performing the goodwill triggering event evaluation. Stakeholders are encouraged to review and provide comment on the proposed ASU by January 20, 2021.
It seems as if one era of auditing is continually giving way to a new one as policy and technology continue to evolve. Due the fast-changing nature of the profession, even seasoned auditors can sometimes feel overwhelmed. In 2020, the rate of progression seems to have quadrupled with rapid technology adoption, pushed ahead by necessity. As we approach the start of a new year, find out what lay ahead for yet another new era of auditing
"The rise of remote will lead to people re-prioritizing what is important to them," writes Herd. "Organizing your work around your life will be the first noticeable switch. People realizing they are more than their job will lead to deeper purpose in other areas."
As the end of 2020 closes in, we are excited to welcome 39 new Student Members from 10 colleges and universities to the MICPA. We look forward to working with all of our Student Members, new and old, in 2021 to keep your path to CPA on the right track. Do you know any of these new members? Find out who joined in December and welcome them into the fold.
Updated CPA Exam Blueprints Unveiled The profession is evolving and in order to make sure graduates are equipped with the skills they need to be competitive in the profession the CPA Exam is evolving, too. Effective July 1, 2021, the CPA Exam Blueprints will be updated to reflect 35 of 46 proposed changes introduced over the course of the past year. Students are encouraged to familiarize themselves with the new blueprints and use it as an additional bit of study material ahead of their exam.
This just in: sometimes we’re not equipped to solve our own problems. When personal support systems fall through, people need to know they have options. Find out what your options are as a student living in Michigan.
Whether your company has been remote for years or just transitioned to working from home over the past several months, fostering a sense of community and connection among your team is crucial for building a positive employee experience.
Norwalk, CT—December 15, 2020—The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) intended to address inconsistency and diversity in practice related to the accounting for revenue contracts with customers acquired in a business combination. Stakeholders are encouraged to review and share input on the proposed ASU by March 15, 2021.
Hot in the news today is the Emergency Coronavirus Relief Act of 2020 (most likely referred to as ECRA). A bipartisan group of congressional lawmakers provided a summary of their proposal for a new COVID-19 relief package that is expected to be passed into law this week. A significant piece of which is an addition to the Paycheck Protection Program (PPP).