AICPA

A&A

IMA Ready to Compete with AICPA/CIMA Management Accounting Designation

The IMA, which has offered the CMA credential since 1972, is facing "fierce competition" from a new management accounting designation – Chartered Global Management Accountant (CGMA) – that the AICPA and CIMA will launch in January 2012, according to Jeffrey Thomson, IMA President and CEO.
A&A

NC State University Students Win AICPA National Accounting Competition

On December 17, the AICPA named seventeen students from North Carolina State University winners of the AICPA National Accounting Competition. The case competition focused on a fictional Texas company looking to expand its business into the Nigerian oil fields. The team received a $10,000 award.
Practice

AICPA Panelists Examine Economic Outlook Survey Findings

AICPA Business and Industry Economic Outlook Survey measured nine components All nine components showed modest improvement in the fourth quarter Survey revealed increased optimism that the US economy will improve in 2012 AICPA Webcast, "Looking Ahead to 2012: Progress of Paralysis?" covering the survey to be made available
A&A

IFRS Update: SEC Decision Still Months Away

James Kroeker, the SEC chief accountant, said last week that the SEC staff will need "at least a few more months" to complete its work on a report to the commission that will show the impact of adopting IFRS on US companies and capital markets. The SEC will study the staff report before making a decision.
A&A

Updated Statement on Standards for CPE Programs To Be Released

Final recommendations for revisions to the Statement on Standards for CPE Programs – the framework for the development, presentation, measurement, and reporting of CPE programs – will be presented to the NASBA and AICPA joint CPE Standards Committee in January 2012.
Tax

CBA Elects Michael Savoy Secretary/Treasurer

Michael Savoy, CPA and the managing director of Santa Monica–based Gumbiner Savett Inc., has been elected the California Board of Accountancy's secretary/treasurer for 2012. In this position, he will help drive the organization forward and keep its finances in sound shape. Savoy has been a CPA for thirty-seven years.
A&A

AICPA Awards $233,300 to Seventy-Eight Minority Accounting Students

The AICPA Scholarship for Minority Accounting Students program began in 1969, with the aim of increasing ethnic diversity in the CPA profession. Since the program's inception, the AICPA Foundation has awarded more than $14.6 million in scholarships to approximately 8,000 accounting students.
A&A

AICPA Sends Message to the FAF Re: Private Companies

The AICPA's governing council approved a resolution that sends a strong message to the Financial Accounting Foundation (FAF) recommending move to adopt the Blue Ribbon Panel on Standard Setting for Private Companies' recommendations for a separate board.
Technology

CPA.com: New e-Mail Service for AICPA Members

CPA2Biz, the technology subsidiary of the American Institute of Certified Public Accountants (AICPA), will offer a CPA-branded email service for members on CPA2Biz’s new umbrella brand, CPA.com in coming weeks.
Community News

Greg Anton Elected AICPA Chairman

Gregory J. Anton, CPA, has been elected the new chairman of the American Institute of Certified Public Accountants (AICPA) for a one-year term ending in October 2012.
Tax

AICPA: IRS Should Revise Proposed Regs Regarding Competency Exam and Fingerprinting for Tax Preparers

Patricia A. Thompson, chair of the AICPA Tax Executive Committee, is urging the IRS to make changes to the user fee regulations it has proposed for tax return preparers as part of its preparer oversight program.
Community News

Sidney Kess and S. Scott Voynich Receive AICPA Gold Medal Award

The American Institute of Certified Public Accountants (AICPA) is pleased to announce that Sidney Kess, CPA, JD, LLM, and S. Scott Voynich, CPA, are the recipients of the AICPA 2011 Gold Medal Award for Distinguished Service.
Education & Careers

AICPA Announces a Major Change for CPA Exam Candidates: Reduced Wait Time for Results

Beginning in the fourth quarter of 2011, exam scores will be released earlier and more frequently. The change is in response to the most common request made by test takers since 2004 when the exam went from a pencil-and-paper format to a computerized format.
A&A

FAF Rejects Independent Standard Setting Board for Private Companies

A new council with the authority to identify, propose, and vote on specific improvements to U.S. accounting standards for private companies has been proposed by the Board of Trustees of the Financial Accounting Foundation (FAF).
A&A

Accounting community calls for independent standards board for private companies

CPA firms, private companies, lenders, and nonprofit entities have joined in a massive letter-writing campaign to the Financial Accounting Foundation (FAF) to express their views on the need for separate standards and an independent standard setting board for private companies.
Education & Careers

AICPA sponsors second annual case competition for accounting students

The 2011 AICPA Accounting Competition, which launched on August 29, 2011, will test students' fraud and forensic accounting skills in a complex scenario focused on a fictional Texas company looking to expand its business into Nigerian oil fields.
A&A

Privately held companies are overwhelmingly in favor of separate reporting standards

Nearly 2,500 letters were sent to the Financial Accounting Foundation demanding the creation of an independent separate board to develop different standards for privately held businesses. According to the AICPA's review, 99 percent of privately held businesses are in favor.
A&A

AICPA panel addresses economic data and what it means for CPAs

Panelists in a recent AICPA Webcast were invited to take a close look at the pessimistic conclusions of the CPA Outlook Index for the third quarter, and consider what it could mean for CPAs and their clients.
A&A

Latest CPA Outlook Index provides grim view of the economy

The outlook for the U.S. economy turned negative in the third quarter for the first time since 2009 as prospects for recovery waned and concerns about a second recession rose.
Community News

Oklahoma CPA receives special recognition award from the AICPA

In his more than 40-year career as a member of the CPA profession, Carlos E. Johnson, CPA, EdD, has approached service to his vocation not as a duty, but as a calling – to consistently provide exemplary and unwavering leadership on the industry's legislative, academic, and not-for-profit fronts.

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