The AICPA and the CPA profession as a whole receive significant ‘ink’ each year, ranging from daily newspapers with large circulations to niche blogs with a few hundred readers. To help you keep track of it all, CPA Profession in the News is a short wrap-up highlighting a few interesting and informative articles about the CPA profession.
Business executives grew less confident about prospects for the U.S. economy over the past quarter. That’s according to the 2nd quarter Economic Outlook Survey, which polls AICPA members who serve as chief executive officers, chief financial officers and controllers. The survey found that while the majority (52 percent) of respondents still expressed optimism about the U.S. economy, there has been a significant slide in sentiment from the first quarter level of 68 percent.
The CPA Outlook Index -- a comprehensive gauge of executive sentiment within the AICPA survey -- fell two points in the second quarter to 72, the second consecutive drop. The index is a composite of nine, equally weighted survey measures set on a scale of 0 to 100, with 50 considered neutral and greater numbers signifying positive sentiment.
Continue reading "In the News: CPAs in the C-Suite See U.S. Economy Slumping" »
CPAs serve as trusted advisers and provide their clients with expert guidance on a variety of topics. It’s no surprise that they are frequently cited by the media for their expertise in areas such as tax, financial planning and even cyber security best practices. I’ve summarized a few recent examples of CPAs helping people make informed decisions about their financial lives.
Continue reading "In the News: CPAs Provide Gift Tax Guidance and Cyber-Security Tips" »
The AICPA’s CPA Outlook Index (CPAOI) fell four points in the first quarter, the first time the Index has dropped in more than two years. The Index, which polls chief executive officers, chief financial officers and controllers, found these executives were tempering their expectations for profit, revenue and expansion in the coming year.
Optimism about those key performance indicators still remains high, but the survey found a decline in sentiment since last quarter. The one survey measure to rise from the previous quarter was sentiment about the US economy, which found that 68 percent of respondents are now optimistic about the U.S. economy, a new high for the survey.
Continue reading "CPA Outlook Index Finds Increased Optimism for US Economy, Lowered Expectations Elsewhere" »
The American Institute of CPAs recently announced that students from the University of Nevada, Las Vegas have earned first place in the 2014 AICPA Accounting Competition.
AccountingWeb reports that the UNLV team’s top finish in the competition earned a $5,000 award for their school. Students from North Carolina State University placed second, taking home $3,000 for their university. The third-place team from the University of Southern Indiana earned $2,000 for their school.
In addition, each of the three finalist teams received a $10,000 award to be split among the team members. All of the awards are funded by the AICPA Foundation.
Continue reading "In the News: Students from UNLV Earn First Place in AICPA Accounting Competition" »
Yesterday, the AICPA announced the results of the fourth quarter AICPA Economic Outlook Survey. The survey, which polls CEOs, CFOs, controllers and other CPAs who hold senior management accounting roles, found higher expectations for profits, revenue and expansion in the coming year.
Some 64 percent of survey takers now report that they are optimistic about prospects for the U.S. economy over the next 12 months. That is up from 52 percent last quarter and 38 percent a year ago.
As Politico reports, the survey found that respondents are actually slightly more optimistic about their own companies’ prospects (67 percent, up 2 percentage points from last quarter), with 71 percent saying they expect their business to expand in the coming year.
Continue reading "In the News: CPAs More Bullish on Economy Heading into 2015" »