Louis Fantozzi

For my CPA friends, please joins us on October 17th for some CPE on an interesting topic: Join GAAP Dynamics and The Alliance Group for a comprehensive session on accounting for business combinations under ASC 810 (Consolidations). This webinar will provide an overview of the two consolidation models and take a deep dive into critical consolidation topics such as eliminating intra-entity transactions, cash flow presentation, and avoiding common accounting pitfalls. 📅 Date: Thursday, October 17 ⏰ Time: 11 AM - 1 PM EST 🎓 CPE Credits: 2.0 CPE 💻 Cost: Free! Key learning objectives: ✅ Understand the core concepts of ASC 810 and consolidation models ✅ Identify key journal entries for preparing consolidated financial statements ✅ Recognize other critical considerations in consolidation accounting Register here:

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It’s not uncommon for companies to have their financial statements prepared externally. The AICPA has just issued an exposure draft to better cover this area when your financials are done externally. For those companies who perform those services, heads up. If you are considering contracting a service to do your financial statements, then you may want to review this before contracting?As C-Suite Support, we do several members financial statements, as well as provide accounting services depending on the client’s needs. Paul Whitley Taber Wetz Chris Gauvin Jayson Potts, MBA C-Suite Support

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How can firms sustain client advisory services (CAS) growth? By delivering high-value business insights. Learn how one firm is leveling up its CAS practice with CPA.com’s CAS 2.0® framework. 🔗 https://lnkd.in/ePCisGry

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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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Big 4 firms don't hold the same pull they used to and the public accounting profession has become more commoditized. Increased regulations have forced firms to be more conservative to avoid lawsuits. Competition has become more fierce with "Tier 1" firms receiving Private Equity investments and other management consulting shops are adding/offering service lines that the Big 4 offers while paying their employees more due to having less overhead. Our team has also had conversations with Big 4 Partners saying staff/seniors aren't learning at the same clips prior to COVID due to lack of onsite collaboration and working from home. That is why KPMG delayed promotions to make senior at 3 years instead of 2. Firms are needing to get creative and it'll be interesting to see what the public accounting profession will look like in the next decade!

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🔍 As we all know, the CPA profession faces a shortage of new CPAs and accounting graduates. A current shortage as well as a pipeline shortage. Last year the AICPA commissioned the National Pipeline Advisory Group (NPAG) to study this shortage and provide recommendations for enhancing the CPA pipeline. The NPAG is comprised of 22 professionals who are CPAs and accountants in the profession.💼 NPAG offered six draft recommendations to restock the talent pipeline. The NPAG's data-driven & inclusive approach hopes to bring about meaningful & long term change. From reshaping education to enhancing the employee experience, their recommendations aim to address critical challenges. NPAG's first recommendation focuses on addressing the time and cost of education. They propose three concepts emphasizing competency over academic experience, potentially revolutionizing CPA licensure requirements. 🎓💰 The second recommendation suggests making academic experiences more engaging. NPAG endorses efforts to retool introductory university courses and improve support for students progressing into more challenging coursework. 📚👩‍🏫 Enhancing the employee experience is another priority, with NPAG highlighting the need for competitive starting salaries and manageable workloads. They urge employers to make tasks more interesting and advancement opportunities clearer. 💼💡 NPAG stresses the importance of prioritizing strategies to expand access for underrepresented groups, advocating for targeted messages and closer relationships with minority-serving institutions. 🌍🤝 Support for CPA exam candidates is also crucial, with NPAG recommending addressing exam costs, simplifying the application process, and rewarding professionals for passing exam sections. 📝💼 Lastly, NPAG emphasizes the importance of telling a more compelling story about the accounting profession to attract talent. They also encourage all CPAs to take the Pipeline Pledge, by committing to participate in two groups/activities per year for the express purpose of nurturing new talent. 🚀💼 With less students enrolling and more analytical majors in the business curriculum than ever it will take concerted effort to keep our CPA pipeline full! 🌟 #Accounting #CPATalentPipeline #Innovation #warfortalent #FutureOfWork 🚀

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Uncertainty creates burden. Retroactive state legislation has been an issue of contention for years, but it keeps raising its head. Taxpayers generally take positions based on their own risk tolerance. Taxpayers who have a high risk tolerance may be willing to take positions based on their interpretation that a grey area of tax law is not constitutional or vague. These types of taxpayers run the risk of a state not only assessing additional tax, interest and penalties, but also are exposed to a state's ability to retroactively change its law in its favor. Taxpayers with a lower risk tolerance may choose to take a conservative position and follow the grey are of tax law despite how obvious it may be that the law is unconstitutional or vague. These types of taxpayers may choose to file amended returns claiming a refund of the tax paid. In this case, the taxpayer is protected from being assessed additional taxes, interest and penalties. However, the taxpayer is still exposed to a state's ability to retroactively change its law in its favor resulting in the disallowance of the taxpayer's refund claim. In both situations, taxpayers may incur compliance costs, consulting fees, attorney fees, court costs, etc. before the issue is resolved. Additionally, while the issue is being litigated or considered, the uncertainty creates additional exposure for current tax years. States have an obligation to create a stable and reasonable compliance environment that doesn't keep taxpayers guessing and especially doesn't tell them to do one thing and change their mind later. On the flip side, I do understand if the state's law does not produce the intended result the state expected. Consequently, the state feels like they shouldn't have to pay refunds because they never intended the law to be interpreted that way. However, whose fault is that? Who should pay? What is fair to both sides? If a court says the taxpayer is correct and they shouldn't have paid the tax, then it doesn't seem fair for the state to simply retroactively change the law and keep the tax. That's like me telling my kids to do something and then when they get hurt say, "I didn't tell you do to that." #newyorktax #californiatax #NYtax #CAtax #retroactivelegislation #multistatetax #stateandlocaltax #SALT #FDSALT #FrazierDeeter #statetaxes #incometax #salestax #middlemarket #fortune500 #privateequity #nationaltaxoffice #FDSALTnationaltaxoffice #tax #taxes #taxcontroversy #statetaxcontroversy #law #accounting #taxlaw #taxdirector #CFO #Controller #taxlegislation

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Under ASC 842, companies are required to capitalize most leases on a balance sheet and report them as right of use assets and lease liabilities. Classifying leases does NOT have to be complicated. Download this handbook to see how easy it is with a lease classification tool → https://lnkd.in/e2r2VKkU #leaseaccounting #accounting #finance #asc842 #fasb

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Will your company be affected by the FASB’s latest accounting standards update on segment reporting? Our new white paper will help you understand the new requirements in ASC 280. https://rsm.buzz/3LXVEa9

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Massachusetts is planning to have another tax amnesty program soon. Details will be forthcoming. The questions are: Should you take advantage of it? Are you eligible to take advantage of it? Should I just do a Voluntary Disclosure Agreement (VDA) instead? Should I wait for the amnesty program? Seek knowledgable counsel to answer these questions for your situation. #massachusetts #taxamnesty #massachusettsamnesty #voluntarydisclosureagreement #VDA #MAamnesty #statetax #stateandlocaltax #SALT #FDSALT #FrazierDeeter #multistatetax #taxcontroversy #middlemarket #privateequity #cfo #controller #taxdirector #cpa #lawyer #accounting #law #taxlaw #tax #taxes #statetaxcontroversy

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Will your company be affected by the FASB’s latest accounting standards update on segment reporting? Our new white paper will help you understand the new requirements in ASC 280. https://rsm.buzz/4fr3CGa

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As more CPA firms merge with larger companies, new challenges and opportunities emerge. The challenges: the risk of conflicts of interest. Firms need to figure out what happens when merging with a firm they once competed with. How are they going to maintain neutrality? The opportunities: bigger client base and access to more resources, which help firms grow. Bigger structures allow: - operational benefits, - increased team efficiency, - getting the experts to focus more on client work, - ability to handle more complex matters without outsourcing However, as this growth unfolds, firms will still need to figure out how to maintain the personal touch and trust that clients expect. The industry is evolving, and it will be fascinating to see how firms navigate these challenges and opportunities in the coming years. Do you agree? What other challenges or opportunities do you see ahead for the industry? #taxadvice #taxprofessional #taxadvisor

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📣 Get up to speed on the latest in accounting and financial reporting! 📣 Join this informative CBIZ quarterly webinar to stay ahead of emerging trends, technical insights, and significant events in financial reporting. 📊 Experts from CBIZ and MHM will discuss: ✔ Recent updates from FASB, AICPA, SEC, PCAOB ✔ New and proposed accounting standards ✔ Key events currently impacting your reports CPE: Earn 1.8 CPE credits in Accounting by attending this webinar. 📑 Register now ➡ https://okt.to/QBf0Ve #FinancialReporting #Webinar #Accounting #FASB

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Welcome to the AICPA free quarterly webinar series, designed exclusively for learning and development professionals and accounting and finance leaders seeking to stay at the forefront of the finance and accounting industry. Each one-hour session is meticulously crafted to deliver unparalleled insights into the latest hot topics, trends, and best practices. From the future of finance to emerging technologies, our webinars delve into the issues that matter most. Please reach out before or after any of the free AICPA webinars with questions and what would be next steps for the development of your professional accounting team [email protected] #accounting #AI #agile #audit #automation #automationsolution #building #business #careers #CGMA #cpa #CPE #CPECredits #cpecredit #CPEPrograms #controller #culture #culturematters #dataanalytics #development #digital #ethics #finance #financeandaccounting #financedirector #financeeducation #financeleaders #financeleadership #financemanager #future #futureready #growth #help #hiring #hr #hrcommunity #hrleaders #hrleadership #hrevents #hrlearning #investing #innovation #jobs #leadership #leadershipdevelopment #learning #learninganalytics #learningdevelopment #learningneverstops #learningplatform #learningstrategy #learningtechnologies #management #media #opportunities #pipeline #personaldevelopment #professionalwomen #sustainability #tax #talent #training #network #career #mindset #taxation #taxes #taxconsultant #taxadvisory #taxlaw #taxadvisor #taxlaw #taxattorney #taxdeductions #taxefficiency #taxfiling #taxcompliance #taxexperts #taxadvice #taxfacts #technology #team #talent #training #transformation #transformationdigital #work #recruiting #share #talent #training #network #career #mindset #accountingandfinance #FoodManufacturingIndustryProfessionals https://lnkd.in/epdStQPB

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After the recent AICPA Council meeting, Erik Asgeirsson, President & CEO of CPA.com, had an insightful chat with Barry Melancon, AICPA President and CEO, about the rapidly evolving landscape of the accounting profession. As the midpoint of the year approaches and the AICPA & CIMA ENGAGE conference nears, here are some key takeaways from the discussion: 🔑 The transformative role of technology in accounting and finance is undeniable. 🔑 Firms should explore strategies to adopt as they look toward the remainder of 2024 and beyond. Get the full details here 👇 #Accounting #Tech #Innovation https://lnkd.in/e2dsEu2D

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Want to catch upon what's been going on with the FASB, SEC, PCAOB, and IASB during Q3? Take a look at our latest #AccountingRoundup for a helpful summary!

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