Running a business can be tough. But what if you had a secret weapon? Find out how to harness the power of data analytics and dashboards to streamline operations, increase efficiency and achieve your business goals.

Resources:

• FourZeroNine Solutions
• Data Analytics Knowledge Hub

In part one of a two-part episode, Brad and Frank review four key topics included in the AICPA’s Technical Q&As: Pro bono and below-cost fees; familiarity threat; hosting/portal access for clients; and tax planning/prep as non-attest services.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• AICPA Technical Questions and Answers
• Accounting and auditing articles and events
• Join the Accounting & Auditing Standards Interest Group

A new report by the Illinois CPA Society reveals accounting students’ and early career accounting professionals’ perceptions of CPAs and the CPA credential, along with the top challenges and deterrents driving their decisions. ICPAS’ Geof Brown and Kari Natale join us to discuss the findings – and what those who are already in the profession can do to make it more appealing to the next generation of CPAs.

Resources:

• Re-Decoding the Decline: An Updated CPA Pipeline Report
• CPA Pipeline Knowledge Hub

RetireReady NJ is a new program in New Jersey that aims to fill the void for workers who do not have access to private employer retirement plans. But, like most well-intentioned state programs, the devil is in the details. Chris Fundora of Traphagen CPAs & Wealth Advisors joins us to discuss what CPAs who represent or work for New Jersey employers need to know. The registration deadlines are fast approaching, and there will be penalties for noncompliance.

Resources:

• RetireReady NJ
• Retirement planning articles, resources and events

This episode dives into disaggregated data – what it is, why it’s done, how it’s incorporated into FASB standards and best practices when it comes to data analytics.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• FASB: Disaggregation – Income Statement Expenses
• Accounting and auditing articles and events
• Join the Accounting & Auditing Standards Interest Group

On June 28, New Jersey lawmakers passed the fiscal year 2025 state budget. To summarize it in one word: disappointing. NJBIA's Chris Emigholz joins us to discuss some of the major elements of the budget - the corporate transit fee, the $2.1 billion structural gap, property tax relief, public worker pension funding - and the potential impact and implications.

Resources:

• New Jersey Budget articles and resources

More companies seem to be taking advantage of receivable borrowing. This episode takes a look at accounting for borrowing on accounts receivable.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• CPA Journal article: Factor Fiction under ASU 2016-15
• PCAOB Updates Its Standards To Clarify Auditor Responsibilities When Using Technology-Assisted Analysis
• PCAOB Modernizes Its Rules by Strengthening Accountability for Contributing to Firm Violations
• Accounting and auditing articles and events
• Join the Accounting & Auditing Standards Interest Group

CPAs are in a unique position to help their clients plan out and meet their financial goals. Stephanie Hughes of Wiss Private Client Advisors talks with us about how CPAs can incorporate retirement planning, education planning and wealth management into their practice and the benefits this will provide to the firm and its clients.

Resources:

• Financial Planning Knowledge Hub - https://njcpa.org/hub/financialplanning

While attending the 2024 NJCPA Convention & Expo, Dr. Sean Stein Smith, CPA, sat down with two active NJCPA members - Joe Hunt, CPA, and Phil Sookram, CPA - to discuss trends in the profession and the value they get from attending the Convention with their peers.

Resources:

* Upcoming NJCPA events

* Become an NJCPA member

SAS 143 has changed the auditor’s requirements around accounting estimates, largely as it relates to the uncertainty of the estimates and management’s bias. Brad, Frank, and Jay will discuss what auditors need to do and what management should expect.

Resources:

• SAS 143 Updates
• Accounting and auditing articles and events
• Join the Accounting & Auditing Standards Interest Group