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.
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" »
Each year, the AICPA honors our members and other key stakeholders for their contributions to the accounting profession.
In this post, I’ve highlighted a number of recent awards and the impressive contributions of those who have earned them.
Michigan Governor Rick Snyder, CPA, was honored with the Outstanding CPA in Government Impact Award: State Level. The award recognizes CPAs working in state government who have contributed significantly to increased efficiency and effectiveness of government organizations and to the growth and enhancement of the CPA profession.
To lessen the financial difficulties Michigan was going through, Governor Snyder infused his administration with a sense of urgency, saying he wanted to accomplish four years of policy reforms in his first year and then maintain that pace. Under Governor Snyder's leadership, Michigan has eliminated its $1.5 billion structural deficit and produced three balanced budgets. Read more in this CPA Practice Advisor article.
Continue reading "In the News: CPA Award Season" »
The role of finance teams is expanding well beyond traditional accounting and financial reporting to encompass areas such as IT development, cyber security and strategic business planning. That’s according to a recent survey of CEOs, CFOs and other senior level Chartered Global Management Accountant designation holders. In addition to growth in the role of accounting and finance, the survey - conducted by the AICPA - found that business complexity has been increasing significantly, a trend that is expected to continue in the coming years.
Continue reading "In the News: Role of Finance Function Expands as Business Complexity Increases" »