Episodes

What challenges could auditors face in 2023? Brad discusses that as well as FASB updates on reference rate reform and disaggregation of income statement. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** Resources: FASB ASU 2022-06 – Reference Rate Reform FASB disaggregation project 4 audit challenges firms could face in 2023 Accounting & Auditing Knowledge Hub Join the NJCPA Accounting & Auditing Standards Interest Group

Client advisory services (CAS) is proving to be an extraordinarily profitable area, with growth rates that are often double those of the accounting profession's more well-established service lines. Amy Bridges, professional development manager at CPA.com, shares the results of the AICPA/CPA.com CAS Benchmarking Survey and provides guidance for firms looking to offer these services to clients. Resources: CAS Benchmarking Survey CAS Knowledge Hub

Get an update on FASB’s new ASU on insurance – transition for sold contracts, as well as recent FASB determinations regarding crypto assets. This episode also covers AICPA quality management standards and PCAOB’s access to audit firms in China. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** Resources: FASB ASU 2022-05 – Financial Services – Insurance (Topic 944): Transition for Sold Contracts FASB Project Update: Accounting for and Disclosure of C...

How do you and your firm set yourself apart in a marketplace dominated by disruption, uncertainty and rapid changes? Dr. Lee Frederiksen, managing partner at Hinge, shares insights into changes in buyer behavior and how firms need to adapt in order to compete and thrive. Resources: Hinge Firm Management Knowledge Hub Client Advisory Services Knowledge Hub

NJCPA member – and crypto expert – Dr. Sean Stein Smith, CPA, provides a year-end recap on cryptocurrency activities in 2022 and a look ahead for 2023. He discusses trends that defined crypto in 2022, FTX implications, proof-of-reserves, accounting changes and more. Resources: Blockchain and Cryptocurrency Knowledge Hub

How did New Jersey businesses fare in 2022, and what’s the outlook for 2023? We talk with Michele Sierkerka, president and CEO of the New Jersey Business & Industry Association, about the results of their recent Business Outlook Survey. Find out what New Jersey business owners’ biggest concerns are and what lawmakers can do to help. Resources: NJBIA Business Outlook Survey

The pursuit of diversity, equity and inclusion in the accounting profession has proved challenging. A new report from the Illinois CPA Society reveals the barriers minority CPAs say they’ve faced when entering and advancing in the accounting profession. Find out what needs to be done to recruit minority accountants and make them feel included and valued. Resources: A CPA Diversity Report: Uncovering the Barriers to Success DEI Knowledge Hub

Find out about the importance of interim audit procedures and areas that should be considered. Also, get guidance on income tax disclosures. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** NOTE: The next A&A Update will be published on Jan. 10, 2023. Happy holidays! Resources: CAQ: The Role of Auditors in Company-Prepared Cybersecurity Information NJCPA Accounting & Auditing Knowledge Hub Join the NJCPA Accounting & Auditing Standards Interest Gro...

Staff recruitment and retention, keeping up with client needs, staying up to date with technology… these are the top concerns cited in the AICPA’s annual CPA Firm Top Issues Survey. We talk with Edgar Espinoza, senior account manager at TaxDome, about tactics for addressing these concerns. The episode is sponsored by TaxDome, an NJCPA member benefit provider that offers a simple, powerful workspace for firms to manage clients, jobs, documents and teams. Learn more at njcpa.org/taxdome. Resourc...

Host Sean Stein Smith talks with Jack Castonguay, assistant professor at Hofstra University and vice president of strategic content development at Surgent, about trends in accounting education. They discuss the need to incorporate technology into college accounting curriculums; the 150-hour requirement debate; the most-needed skills and knowledge for new accountants; and more. Resources: CPA Evolution

This episode focuses on FASB’s Small Business Advisory Committee and the results of a recent FASB meeting; more on lease accounting; PCAOB’s proposed standard on a firm’s system of quality control; and the PCOAB’s recent Small Business and Broker-Dealer Audit Forum. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** Resources: FASB Small Business Advisory Committee (SBAC) PCAOB Proposes a New Quality Control Standard PCAOB Forum for Auditors of Small ...

Brad is joined by Frank Boutillette to discuss FASB’s joint venture proposal and crypto assets decision, the AICPA Enhanced Audit Quality Initiative areas of focus for 2023 and recent SEC updates. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** Resources: FASB Seeks Input on Proposed Improvements to Accounting for Joint Venture Formations FASB Decides on Accounting Method for Crypto Assets What CPAs need to know about NFTs AICPA resources on enhanc...

The results of the recent Congressional elections held a lot of surprises, and there are still votes to be counted. Rob Zucker, partner at Winning Strategies, is back on the podcast to talk about what went right and wrong for both the Democrats and the Republicans, the key issues that were at play, and the impact of the election results on taxation and business issues.

If you’re wondering where the economy is headed, you’re not alone! That’s why we sat down with Roosevelt Bowman, senior investment strategist with Alliance Bernstein, to discuss inflation, interest rate hikes, the job market and other factors affecting the short- and longer-term prospects for the economy. Resources: Learn more about Alliance Bernstein Free webinar: National Economic Update – Jan. 26 or Jan. 31

Brad is joined by Frank Boutillette to discuss FASB’s tentative decision about accounting for crypto assets, FASB’s segment reporting proposal, topics being addressed by the AICPA Private Company Council, tips for assessing the risk of fraud in financial statements, and new SEC rules on electronic recordkeeping. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** Resources: FASB Decides on Accounting Method for Crypto Assets FASB Seeks Input on Proposa...

Get details on several recent tax developments impacting individual taxpayers: student loan debt forgiveness, the New Jersey Child Tax Credit and New Jersey’s ANCHOR property tax relief program. Resources: Student loan debt relief news and information New Jersey Child Tax Credit ANCHOR program NJCPA Federal Taxation Knowledge Hub NJCPA State Taxation Knowledge Hub Join the NJCPA Federal Taxation and/or State Taxation interest groups

The pandemic has spurred lasting changes to how we work, learn, process information and interact with others. What are the implications for continuing education and learning for CPAs? We explore this with two training and education experts – John Higgins, CPA, of CPA Crossings and Dr. Kecia William Smith, CPA, of North Carolina A&T State University. Resources: Learning opportunities through the NJCPA – https://njcpa.org/events #IssuesWatch #Podcast #CPE #learning #continuingeducation #cpa

This episode focuses on FASB ASU 2022-04 concerning disclosure of supplier finance program obligations and AICPA SAS No. 145 concerning risk assessment. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** Resources: FASB ASU 2022-04, Liabilities – Supplier Finance Programs SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement NJCPA Accounting & Auditing Knowledge Hub Join the NJCPA Accounting & Audit...

There are significant cybersecurity issues impacting the accounting profession. In this episode, host Sean Stein Smith, CPA, talks with Lisa Atkinson of Zelvin Security about ethical hacking, best practices for protecting internal and client data, effective technology tools and more.

Brad welcomes Frank Boutillette back to the podcast, and they provide numerous FASB updates including stock-based compensation, SOFR and leases. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** Resources: NJCPA Accounting & Auditing Knowledge Hub Join the NJCPA Accounting & Auditing Standards Interest Group

Cyber criminals continue to develop new and more-aggressive tactics to gain access to sensitive company information and personal data. Don’t make the mistake of thinking a cyber attack won’t happen to you or your company. Get an update on trends in cyber attacks, what you can do to protect yourself and your company, and what to watch for in 2023. Resources: Learn more about XactIT Solutions Get more guidance in the NJCPA Cybersecurity Knowledge Hub Join the NJCPA Emerging Technologies Interest...

Cyber criminals continue to develop new and more-aggressive tactics to gain access to sensitive company information and personal data. Don’t make the mistake of thinking a cyber attack won’t happen to you or your company. Get an update on trends in cyber attacks, what you can do to protect yourself and your company, and what to watch for in 2023. Resources: Learn more about XactIT Solutions Get more guidance in the NJCPA Cybersecurity Knowledge Hub Join the NJCPA Emerging Technologies Interest...

Cyber criminals continue to develop new and more-aggressive tactics to gain access to sensitive company information and personal data. Don’t make the mistake of thinking a cyber attack won’t happen to you or your company. Get an update on trends in cyber attacks, what you can do to protect yourself and your company, and what to watch for in 2023. Resources: Learn more about XactIT Solutions Get more guidance in the NJCPA Cybersecurity Knowledge Hub Join the NJCPA Emerging Technologies Interest...

This episode is all about audit quality – common deficiencies, how to make improvements, changes on the horizon and available resources to help. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. *** Resources: AICPA Enhancing Audit Quality 2021 Report Center for Audit Quality AICPA Government Audit Quality Center AICPA Employee Benefit Plan Audit Quality Center Get Ready for the AICPA’s New Quality Management Standards NJCPA Audit Quality Knowledge Hub