Jean Neftin, MBA

To my CPA friends...if you're looking for some free CPE go no further. ACCOUNTING FOR SHARE-BASED PAYMENTS WEBINAR Please join GAAP Dynamics and The Alliance Group to discuss the accounting for share-based payment awards under ASC 718 and deferred compensation under ASC 710. We'll cover classification, fair value measurement, and recognition of compensation expense, along with key concepts for deferred compensation. This complimentary 2.0 CPE-eligible webinar on September 19, from 11AM-1 PM will address how to: ✅ Distinguish between equity-classified and liability-classified share-based payment awards s ✅ Determine how to recognize compensation cost for awards with different vesting conditions ✅ Identify common inputs for pricing models in share-based payment awards ✅ Recall key accounting requirements for deferred compensation per ASC 710   Registration Link: Webinar-Accounting for Share-Based Payments (gaapdynamics.com) About us: Alliance Client Advisory, comprised of over 75 former Big 4 CPAs, partners with publicly traded and high growth PE backed companies to provide staff augmentation and advisory services in areas of financial reporting, technical accounting, operational accounting, and corporate transactions.  

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Are you seeing a link between a shortage of accountants and increased CFO turnover due to financial-reporting deficiencies? Companies with less than adequate accounting personnel are more likely to report material weaknesses, leading to delays or restatements of financial reports. Data shows that businesses citing such weaknesses had a higher CFO turnover rate compared to those without deficiencies.

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Given the current and future CPA shortage, it seems like a good idea to consider all factors that may attract, deter and retain industry professionals. Here’s one. The 150-hour requirement for CPA certification has long been a topic of debate within the accounting profession. Recent data suggests the need for a re-evaluation of this mandate, particularly in terms of its impact on diversity and inclusion. 📉 A study from MIT Sloan highlights a concerning trend: the implementation of the 150-hour rule has led to a 26% decrease in minority entrants into the profession compared to their non-minority counterparts. The study used public data and covered years 1986 – 2019. The study reflected an overall 14% decline in all new CPAs during that time. The added financial and time burden of obtaining the extra 30 credit hours, often equating to an additional year of education, along with salaries that lag behind finance & analytics majors may have be a factor to less accounting majors. ❓ Further complicating the issue, a 2024 survey conducted by the New Jersey Society of CPAs revealed that 62% of respondents see no significant skills difference between CPAs with 120 credit hours and those with 150 hours. Does this mean that the additional coursework may not necessarily translate to better-prepared professionals? Given these insights, it may be time for the accounting profession to reassess the 150-hour rule. The goal should be to ensure that the pathway to becoming a CPA is rigorous yet thorough. Minnesota is leading the way with proposed legislation that would require 120 credit hours, passing the exam and two years of professional service. 💡 Revisiting the requirement could mean rethinking how we structure the CPA preparation process, including – like Minnesota - by integrating more practical experience opportunities or providing alternative pathways that do not compromise the quality of education or preparation but reduce the financial burden on students. 🤝 Let’s face it – AI and offshoring may be short-term band aids, but neither is the permanent long term fix to the CPA shortage. Time to consider all angles. And perhaps reconsider that 150-hour rule that seemed like a great idea 25+ years ago. #Accounting #CPA  #150HourRule #CPACertification #CPACareer

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Do you know what the No. 1 concern is for CFOs and Controllers in 2024? According to a 2023 survey by the AICPA, hiring and retaining accounting and finance professionals is at the top, surpassing inflation. Losing team members can have many impacts including back-filling costs (~150-200% of their annual salary), a lengthy recruiting process (avg. 8-12 weeks), lost technical expertise and company knowledge, and decreased team morale. We can help CFO organizations navigate these uncertain times and retain their top talent. Let's have a conversation about how we can support you in 2024. https://lnkd.in/eBh2AwDQ Read more about the AICPA survey here: https://lnkd.in/ejfEE-au #consulting #support #accounting #2024hiring #finance

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"Ready to optimize your monthly financial routine? 🌟 Check out our must-have checklist for accountants and bookkeepers—designed to enhance accuracy and efficiency!

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Accountants have it good right now. Despite "tougher" labor market conditions throughout all sectors (it's really just back to somewhat normal pre-covid levels) it seems CPA's still have ample opportunity. Likely due to people leaving accounting in droves and fewer people majoring in accounting, it's simple supply and demand. Need proof? Here's a small snapshot of what someone with their CPA could get through our SkyWater Search Partners Chicago team right now: 1. Controller -- PE-backed company moving to Chicago 2. Senior of SEC reporting -- Large public company 3. Senior Accountant -- Large PE-backed company going through IPO 4. Accounting Manager -- Large PE-backed technology company 5. Manager of Fund Finance -- Large asset management firm 6. Senior Fund Finance -- Large asset management firm 7. Senior Accountant -- PE-backed company, tons of M&A/Acquisitions 8. Manager, Technical Accounting -- Large F500 CPG company 9. BU Controller -- Large private, global company 10. Assistant Controller -- Large PE-backed company 11. Accounting Advisory -- Large global management consulting shop Definitely not an exhaustive list and there is no better time to explore the job market as we start approaching fall and Public Accounting firms gear up for busy season. If you want to assess your current position and see if it could be improved before the end of 2024 reach out as we can be a guide on market/opportunities. [email protected] 18/100 #Chicago #AccountingJobs #Hiring2024

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🔍 Beyond Traditional Accounting: What Can Public Practice Accountants Offer? In today's fast-paced business environment, public practice accountants provide much more than just accounting and tax filing. They are strategic partners who can help businesses navigate complex financial landscapes and drive growth. ✅ **Business Advisory Services**: Accountants can offer valuable insights into business performance, helping to identify opportunities for improvement and growth. They can assist with budgeting, forecasting, and financial planning to ensure your business stays on track. ✅ **Risk Management**: With their expertise, accountants can help identify potential risks and develop strategies to mitigate them. This includes everything from financial risks to operational and compliance risks. ✅ **Technology Integration**: As businesses increasingly rely on technology, accountants can advise on the best financial software and systems to streamline operations and improve efficiency. They can also assist with the implementation and training of these systems. At Wavelength Professional Recruitment, we understand the evolving role of accountants and are committed to connecting businesses with professionals who can deliver these comprehensive services. What additional services do you offer your clients? Share your thoughts in the comments or connect with me directly and we can also discuss how we can support your recruitment needs. #Accountancy #BusinessGrowth #PublicPractice

Salary Guides for Accountants Vary Widely: Who Do You Believe?: Recruiters Atrium, LHH and Randstad don’t agree. By CPA Trendlines Research Go PRO for members-only access to more CPA Trendlines Research. http://dlvr.it/TFXhYz #CPA #tax #accounting

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As organizations try to combat accounting talent shortages, some finance professionals have called for decreased CPA requirements to lower barriers of entry into the field. The 150 hour rule is one requirement that has received criticism as finance leaders grapple with making the CPA license more accessible. This rule mandates accountants to complete 150 hours (or approximately 5 years) of university credits to be eligible for a CPA license. - Some professionals argue that decreasing the 150 hour rule will encourage more people to enter the profession, stating that many students are favoring other master degrees such as an MBA over a masters of accountancy. - Those opposing this change cite concerns about lower work quality. See how CFOs are weighing in on this topic here: https://buff.ly/4bsEzAh #CPA #CFO #Accounting

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Don't let lease dates slip through the cracks! iLeasePro's powerful software keeps track of all your important lease dates, ensuring you're always one step ahead. ➡️ Avoid costly oversights ➡️ Streamline your workflow ➡️ Gain valuable insights Learn more: https://buff.ly/4d4ByG6 #leasemanagement #ASC842 #businesstips

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Are you struggling to navigate the complexities of ASC 842? 🔍 This standard significantly impacts how leases are accounted for and reported. Learn how to: ✅ Identify and classify leases ✅ Recognize and measure lease assets and liabilities ✅ Prepare disclosures ✅ Implement processes and controls ✅ Leverage technology solutions Discover how ASC 842 will affect your MD&A and financial reporting. https://lnkd.in/eHAqz3qG #ASC842 #leaseaccounting #MD&A #financialreporting

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