NJCPA IssuesWatch Podcast

Host Sean Stein Smith, CPA, sits down with Blake Oliver, CPA, an accounting innovator, podcast host and founder of Earmark CPE, to talk about technology implications for the accounting profession. They discuss how technology has impacted accounting regulations and processes, as well as the top three things CPAs can do to leverage technology in their firms.   Resources: Earmark CPE Cloud Accounting...

Is Governor Murphy’s $49 billion proposed budget for New Jersey’s 2023 fiscal year good or bad for New Jersey residents and business owners? While there are no new taxes or tax increases, is this level of spending sustainable? And what are the prospects that major changes will be made as the proposed budget is scrutinized by the Legislature? Tune in to the latest episode of the IssuesWatch Podcast...

This episode includes FASB updates and reminders regarding goodwill, going concern and more, as well as an important single audit reminder for healthcare entities that received COVID relief funding.  *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano . ***   Additional resources: FASB ASU 2014-15: Presentation of Financial Statements – Going Concern Join the A&...

The accounting profession is grappling with a staffing shortage. Is the issue that CPAs are leaving firms to work in corporate accounting? Are fewer people pursuing accounting careers? Is the 150-hour requirement an impediment? In part two of our interview with former CPA Caleb Newquist, he provides his perspective and recommendations based on his years working in the profession and as a journalis...

Our latest episode includes FASB updates on inventory, goodwill and government assistance; a reminder about pass-through entity tax accounting; an AICPA peer review alert on engagements outside the peer review year window and clarification on SEC-registered broker/dealers; important cybersecurity considerations during an audit; and the top five focus areas from the Deloitte Audit Committee Practic...

In 2009, Caleb Newquist left his public accounting career and became the founding editor of a website that has become a one-of-a-kind, irreverent voice of the accounting profession. Hear about his journey, his observations about the profession and his new venture producing a true-crime fraud podcast with a CPA/comedian (yes, there is such a person!).   Links and resources: Oh My Fraud podcast Gust...

Is the accounting profession making progress on diversity, equity and inclusion (DEI)? What factors separate leaders from laggards? Are there tools and processes to assist? Host Sean Stein Smith, CPA, gets answers to these questions from Withum’s Bill Bradshaw, and they discuss the top three ways CPAs can improve DEI at their firm or company.    Resources: Diversity, Equity and Inclusion Knowledge...

The AICPA and SEC have issued numerous updates and proposed rule changes ranging from compliance audits to peer review to enhancing private fund investor protection and more. Get the details in this 10-minute rundown.    *** This episode qualifies for nano CPE credit. Find out more at  https://njcpa.org/nano . ***   Additional resources:   AICPA TQA addresses health care accounting for items free...

PPP forgiveness, cannabis, mergers and acquisitions — how does the banking industry weigh in on these and other pressing issues? Hear from John McWeeney and Mike Affuso of NJBankers, the premier organization representing New Jersey’s banking industry, about how banks have adapted to the pandemic, the status of PPP loans and forgiveness, lending trends, serving the cannabis industry, and how merger...

Get important tax updates on all things crypto, including determining ordinary income versus capital gains; tax treatment for mining, staking and rewards; crypto trading; wash sales; broker reporting; and more.   Additional resources: A primer on the tax treatment of block rewards March 2 webinar: Crypto Tax Overview, Regulatory Update & FAQs March 30 webinar: A Deeper Dive on Crypto Taxes – D...

Our latest 10-minute episode addresses accounting for pass-through entity taxes, accounting for digital assets, identifiable intangible assets, tips for challenging revenue recognition circumstances, PCAOB updates, SEC non-GAAP reporting guidance and more.    *** This episode qualifies for nano CPE credit. Find out more at  https://njcpa.org/nano . ***   Additional resources:   Digital assets, int...

For decades, the accounting profession has pursued diversity, equity and inclusion (DEI) initiatives. Unfortunately, little progress has been made. Darryl Jackson, director of diversity, equity and inclusion at the Institute of Management Accountants (IMA), talks with us about a multi-phase research project into actionable solutions to achieve greater DEI in the accounting profession.    IMA’s div...

Two important NJCPA-backed bills passed during New Jersey’s hectic lame duck session. Can we keep that momentum up with two other bills we’re supporting? And what’s the outlook for other legislation impacting the state’s business community? We discuss all of this and more with one of New Jersey’s most expeienced lobbyists: Dave Smith, partner at Princeton Public Affairs Group.    NJCPA Legislative...

As we head into tax season, questions and issues are arising about the taxation of crypto assets. In this 10-minute episode, Sean Stein Smith, CPA, provides an update on the tax obligations tied to the burgeoning crypto category of non-fungible tokens (NFTs).    *** This episode qualifies for nano CPE credit. Find out more at  https://njcpa.org/nano . ***

The latest 10-minute A&A episode covers a range of updates from GASB, PCAOB, SEC, FASB and the Center for Plain English Accounting.    *** This episode qualifies for nano CPE credit. Find out more at  https://njcpa.org/nano . ***   Additional resources: GASB to consider going concern PCAOB staff guidance on Form AP, Auditor Reporting of Certain Audit Participants, and Related Voluntary Audit R...

Make sure you dot your Is and cross your Ts as you prepare for tax season. This episode covers: Three post-year-end tax planning opportunities Overview of key 2022 tax filing deadlines Best practices for tax season preparation   *** NOTE: To earn nano CPE credit for this episode, visit  https://njcpa.org/nano . ***

This episode recaps Brad’s top accounting and auditing topics for 2021 — SPAC restatements, ESG, quality management, risk assessment, accounting for government grants and lease accounting — and some important reminders about audit reports and engagement letters.   *** This episode qualifies for nano CPE credit. Find out more at  https://njcpa.org/nano . ***   Additional resources: Accounting &...

The Bipartisan Infrastructure Law, signed into law in November, is reported to bring more than $12 billion in federal aid to New Jersey. Prominent Washington lobbyist Rob Zucker of Winning Strategies talks with us about what this money could mean for the Garden State’s bridges, tunnels, roads, public transit and other infrastructure initiatives. We also discuss the looming Build Back Better bill.

Get an update on recent tax changes as well as tax planning strategies that individuals and businesses can implement before the end of the year, including: Net investment income tax Retirement contributions Charitable contributions Estate and gift tax Debt debts and worthless stocks Net operating losses Business tax credits, including the employee retention tax credit

This episode covers CECL, accounting and auditing issues related to digital assets, cybersecurity disclosures, DOL’s upcoming review of employee benefit plan audits, COP26 results, accounting for income taxes and more.    *** NOTE: To earn nano CPE credit for this episode, visit  https://njcpa.org/nano . ***   Related links: FASB reconsiders accounting for troubled debt restructuring by creditors...

There’s no disputing that technology plays a bigger role at CPA firms than ever before. But are CPAs keeping up? There were some surprising — and not-so-surprising — results in our recent member survey on the topic. We discuss those results, as well as technology developments that are on the horizon, with Brandon Marks and Nick Rigali of OWG, an NJCPA member benefit provider of IT consulting servi...

Whether a student is looking to begin an accounting career or a working professional has their eyes on a coveted CFO or partner position, Jerry Maginnis, CPA, has the inside tips and hands-on know-how to make those dreams a reality. Listen to our discussion with Jerry about his new book, Advice for a Successful Career in the Accounting Profession: How to Make Your Assets Greatly Exceed Your Liabil...

This episode covers several lease accounting updates; a new FASB ASU on governmental assistance disclosures; reminders about CECL; AICPA changes to quality management standards; and more.   *** NEW: This episode qualifies for nano CPE credit! Find out more at  https://njcpa.org/nano . ***   Additional resources: FASB ASU 2021-09: Leases – Discount Rate for Lessees That Are Not Public Business Enti...

The commercial real estate industry is deep into a second year of pandemic adjustments. While office buildings are experiencing vacancies and downsizing as employees continue to work remotely, the demand for warehouse space has never been higher. Hear from Walter Sierotko, executive vice president and chief lending officer at Provident Bank, about the current state of the commercial real estate ma...

This episode covers important guidance on lease accounting issues related to related-party leases; FASB’s proposal to amend interim disclosure requirements; FASB’s practical expedient for equity-based compensation; AICPA’s proposal to align accounting and review standards with new audit quality management standards; and more.   *** NEW: This episode qualifies for nano CPE credit! Find out more at ...