Firm leaders chime in on legislative priorities, critical skills, innovation

More than ever, managing partners at Maryland CPA firms say they need someone to scan the horizon for them — to identify future trends before they happen, to monitor and affect change on legislation and regulations, to train their people and help them grow their businesses in an era of great change and complexity. To make them future-ready, in other words. That much was clear during the MACPA’s most recent meeting of key managing partners. With the help of a virtual collaboration aid...

Tips for coping with the ‘urge to merge’

Posted By: Ira Rosenbloom on May 20, 2016 in Business Strategy&Leadership / Management&Organizational Development
The two most frequent times for firms to address merging, acquiring, or selling are right after busy season and right after the summer in advance of next season. So now, with tax season in the rear-view mirror, it is highly common to have the “urge to merge.” This urge can be great if you have the discipline to orchestrate a deliberate and controlled process. But without a process, the urge, much like any other emotional reaction, can bring unwanted consequences. As you explore your...

Regulatory roundup

Accounting- and auditing-related standard-setting activity has heated up recently. Here's a rundown of recent rulemaking from the Financial Accounting Standards Board, the Securities and Exchange Commission, and the Public Company Accounting Oversight Board, worth taking a look at as we approach the Summer of '16.  Final and near-final rules The FASB has published three final Accounting Standards Updates in the past month, all related to revenue recognition: * ASU 2016-10: Revenue from...

DOL issues final rule raising overtime pay threshold

UPDATE: See the AICPA's press release: AICPA Responds to Department of Labor's Overtime Rule. The Department of Labor has published its final rule significantly raising the threshold level for salaried employees entitled to overtime pay. The rule, "Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales and Computer Employees," set to be published in the Federal Register May 23, carries an effective date of Dec. 1, 2016. The rule, backed by the Obama...

Why take the CPA exam? Each hour of prep time is worth $324. Start here

It's that time of year again ... graduation season. And if you're a graduating accounting major, it shouldn't mean you're done taking exams. The CPA credential is one of the business world’s most respected and recognizable accreditations. It says you are competent, trustworthy, and hardworking. The AICPA's brand research in 2011 found that the CPA brand was as recognizable as Apple and Disney. Think about that for a second. Think of the loyal fan bases those organizations have. The CPA is a...