Meta-Analysis -The AICPA has released an exposure draft on proposed changes to the CPA Exam, which would add content to the Exam to improve its relevance, as well as remove content, thought to be less pertinent. These proposed changes are described in detail in the AICPA’s Practice Analysis Report, with expected implementation in July of 2021.

Major Changes Ahead

The American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA) have been working on a joint initiative to change the CPA licensure process. They sought feedback from various sources and considered many alternative ideas to update the licensure process. The current model under consideration focuses on core competencies all candidates must master.

 

Also, the model introduces three areas of specialty, with the CPA candidate specializing in one of them. The core competencies are audit, technology, accounting, and tax, and the three specializations, also called pillars, are tax compliance and planning, information systems and controls, and business reporting and analysis.

Busy season is just warming up, and so are tax scammers. People are just starting to think about filing their taxes again, and criminals know Uncle Sam is on their mind. They are using this acute awareness to slip in and try to look credible. Sometimes, they do a great job, especially to the untrained eye. One of the best things you can do for your clients is to be aware of these type of scams.

The changes to the 2017 CPA Exam brought about challenges and adversity. The new structure aims to help new accountants apply their knowledge to the modern professional world, but the shakeup has left CPA students to navigate a new frontier. Being among the first wave was a difficult task for many.

For the third year in a row, REI has decided to opt out of what every other retail giant does after Thanksgiving by ditching Black Friday Deals. No waiting outside in the early hours of the morning and running through aisles grabbing at discounts. Instead, they are sticking with their #OptOutside campaign and encouraging people to spend time outdoors rather than shop.

The massive number of employees working from home over the past five years seems just to be growing. Even if working remotely part-time, employees benefit from more flexible schedules, decreased commute times, a dip in transportation costs, and a spike to happiness.  Employers get the benefit of fewer bodies in the office which result in less space needed and lower utilities which results in lower overhead, and happier, more loyal employees, which increases productivity while lowering turnover.