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FASB Tackles Plans to Update Software Cost Accounting Guidance

CPA Practice

The FASB encourages stakeholders to review and provide comments on the proposed ASU by Jan. 27, 2025.

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IMA Expands Its Management Accounting Competency Framework

CPA Practice

The IMA Management Accounting Competency Framework outlines the skills required by the most common accounting and finance roles , such as CFO, controller, treasurer, financial analyst, director of cost accounting, senior accountants, and staff accountant. Thanks for reading CPA Practice Advisor!

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Friday Footnotes: Modernizing CPA Requirements in Pennsylvania; Master’s Degrees Are Hot Again; Don’t Dog the PCAOB | 5.9.25

Going Concern

The bill will modernize the licensure process in Pennsylvania, which Hutchinson and Pisciottano say will address the evolving needs of the accounting profession. FASB to issue final ASU on software cost accounting [ KPMG ] FASB completes redeliberations on software cost accounting changes and directs staff to draft final ASU.

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CPA Exam Tip: Don’t Choose TCP Just Because It Has an Insanely High Pass Rate Right Now

Going Concern

This afternoon NASBA held a webinar on how to choose a CPA exam discipline and in case you couldn’t or refused to attend, I’ll have more on that later. Allow me to explain… These are CPA Evolution pass rates for the first and second quarters of 2024. And contains cost accounting which so many people struggle with.

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What Would You Like to See Tested on the CPA Exam?

Going Concern

With the completely redesigned CPA exam only 514 days away, there’s been a lot of discussion around the proposed Blueprints and questions about whether or not this content aligns with CPA Evolution’s stated goal of maintaining the relevance of the CPA credential. CPAs don’t need both. It’s 1 or the other.

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CPAs Should Get Into Weed, Says CPA Into Weed (As a Business, That Is)

Going Concern

The growers and sellers of these products, having been empowered to do so in daylight rather than the shadows of your nearest high school parking lot, are just as in need of skilled CPAs as any other business. This recent Journal of Accountancy article. So how do CPAs get into this niche? You love to see it!

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Cannabusiness Tax Liabilities and How to Navigate Filing

CPA Practice

By Samantha Schafer, CPA. 147 ensured that these critical costs incurred by cannabusinesses be classified as deductibles for income tax purposes. That’s why if cost accounting wasn’t a major priority for these owners prior to IRC Sec. Thinking that only dispensaries have to worry about taxes to their cannabusiness?

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