9 posts categorized "Richard J. Caturano, CPA, CGMA" Feed

The American Dream Extends Beyond Our Borders

Rich-caturano-brazilWhen I became chairman of the AICPA Board of Directors a year ago, my first blog post addressed several key issues for the profession. But mainly I talked about the accounting profession as a path to the American Dream. That’s my life experience – humble beginnings and following my role-model neighbor who was the first CPA I ever knew. Having represented the United States accounting profession at a Brazilian conference in August, I now fully understand that the American Dream is a universal desire and our profession is a way to achieve it.

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Gaining a Professional Edge with AICPA Membership Benefits

First-wanted-to-be-a-cpaI take great pride in being a CPA, and I know you do too. Earning the credential is something that gives us tremendous confidence and opportunities in our professional lives. The self-assurance comes from having passed the rigorous CPA exam and maintaining lifelong learning. The endless possibilities stem from our experience, expertise and skills that are highly regarded and necessary in any organization.

Of course, I am able to stay current and knowledgeable about both professional and technical issues through my membership in the AICPA. As fellow members, you know the Institute gives us a professional edge by providing 24/7 access to trusted information and reliable tools. In an increasingly complicated and competitive business world, it’s good to know that I can turn to the AICPA to tap into the information I need when and where I need it.

In addition to technical information, I rely on many other member benefits that make my work more efficient or more profitable. They also may save my firm, my family or me money and some members find the discounts more than pay for membership. Below are some of the member benefits I’ve used:

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What Does It Take to Value a Business?

As CPAs, we get so consumed with our day-to-day challenges of serving clients and employers that we can neglect some of the big-picture issues that are going to impact the not-so-distant future of our profession. That’s what was behind the AICPA’s Vision 2011 project, and more recently our CPA Horizons 2025, but it’s also the subject of a series of panels we’ve convened to bring thought leaders together. Last month’s topic was value versus valuation, which is not a new issue, but one that has intensified in recent years. This video is just a snippet of that conversation. You can view the full video on AICPA TV.

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Be Prepared for Major Changes in Key GAAP Standards

GAAPGet ready to tackle some major revisions in accounting standards. After years of consideration, the Financial Accounting Standards Board is finalizing its approaches on three major issues: revenue recognition, leases and financial instruments. Each of these accounting areas affects virtually all companies in the United States no matter what their size or whether they are public or nonpublic. And that means virtually all CPA firms are affected too.

From an advocacy standpoint, the AICPA continues to monitor the progress of these important standards and to comment on the exposure drafts on members’ behalf. Our goal is to help make sure the standards are effective and can be implemented with as much ease as possible. Moreover, the AICPA will help members understand and implement the new standards so they can continue to provide high-quality services and comply appropriately with the rules.

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Boston: My City in Mourning

BostonMy heart is heavy given the horrific events that occurred during the Boston Marathon on Monday. I grew up just a few minutes outside of Boston and have spent my entire CPA career working in our great city. I also have attended the Boston Marathon many times, both as a spectator cheering for my daughter and as a participant. The spirit and character of Boston, and the patriotic pride of its residents, go back to the earliest days of our country. To see the streets of Boston, particularly those of which I have so many fond celebratory memories, attacked in such a way and during such a joyous moment of civic unity saddens me deeply. My heart goes out to the victims and their families as they try to find calm after this senseless act.

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Economic Growth in 2013: A Blend of Optimism with Realism

2013-growthLike me, I’m sure most of you are relieved the “fiscal cliff” debate is behind us, at least for the moment. While Congress and President Obama still have plenty of work to do, I’m hopeful both political parties can work together on compromises that will begin to reduce the deficit and simultaneously stimulate economic growth.

What’s frustrating for me and for many Americans is that most of us recognize what has to be done. We need a balanced solution that includes new revenue and serious deficit cutting, with a look to the long-term economic vibrancy of our economy. We need tax reform and tax simplification, and we need to set national policies that incentivize private-sector workers, jumpstart new businesses, spur entrepreneurship and encourage innovation. If we can take steps toward realizing these goals, I believe we can see positive economic results in 2013.

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The Extraordinary Possibilities of the Accounting Profession

Richard-caturanoI was a kid from a blue-collar immigrant background, growing up in a neighborhood where most adults cobbled together a living from two or three jobs. When I turned 12, our community got its first CPA resident. That’s when I learned what a CPA was, and that it could lead to a better life. Thanks to the CPA profession, I grew up to be able to live the great American Dream.

I am honored and excited to write to you as the new AICPA Chairman of the Board of Directors. I believe the CPA profession is full of even more promise today than it was when I first started my career. For those with determination, adaptability and persistence, the profession offers extraordinary possibilities. I’ve learned the key to achieving that success: embracing change and seeing the opportunities in it.

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AICPA Here to Help in Aftermath of Sandy

Hurricane-sandyLike many of you, I’ve seen hundreds of images – gut wrenching, heartbreaking images – of the devastation and destruction unleashed by superstorm Sandy. But let me tell you about this one.

It was taken outside a home in Hoboken, N.J. A tangle of white and black cords snake from two power strips on an iron fence holding a small sign: “We have power. Please feel free to charge your phone!”

Think about the importance of that simple gesture. Those homeowners gave their neighbors far more than free electricity. They gave them connection — a link to the outside world, a way to tap into their community of family and friends, find information and begin to move forward.

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Day 3 of AICPA Governing Council Fall 2012 Meeting

At the final day of the AICPA governing Council Fall 2012 meeting, the AICPA elected a new chairman of the board of directors, Richard J. Caturano, CPA, CGMA. Follow the "read more" link for a look at the day through the eyes of social media. (If you're viewing this post through our email subscription, please click through to read the entire story.)

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